Equities analysts predict that First Republic Bank (NYSE:FRC) will post $1.24 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for First Republic Bank’s earnings. The highest EPS estimate is $1.29 and the lowest is $1.17. First Republic Bank posted earnings of $1.10 per share in the same quarter last year, which indicates a positive year over year growth rate of 12.7%. The business is scheduled to report its next quarterly earnings results on Tuesday, January 15th.
According to Zacks, analysts expect that First Republic Bank will report full-year earnings of $4.75 per share for the current fiscal year, with EPS estimates ranging from $4.69 to $4.81. For the next year, analysts forecast that the firm will report earnings of $5.40 per share, with EPS estimates ranging from $5.25 to $5.72. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow First Republic Bank.
First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Friday, October 12th. The bank reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.01). First Republic Bank had a net margin of 24.05% and a return on equity of 11.47%. The company had revenue of $768.83 million for the quarter, compared to analysts’ expectations of $765.80 million. During the same quarter in the previous year, the company posted $1.14 EPS.
A number of analysts have weighed in on FRC shares. Piper Jaffray Companies reiterated a “hold” rating and issued a $94.00 target price on shares of First Republic Bank in a research note on Tuesday, October 9th. Raymond James set a $104.00 target price on First Republic Bank and gave the stock a “buy” rating in a research note on Monday, October 15th. Finally, Royal Bank of Canada increased their target price on First Republic Bank to $102.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 13th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $102.46.
NYSE:FRC traded down $2.31 during midday trading on Friday, hitting $94.47. 1,613,882 shares of the company traded hands, compared to its average volume of 1,176,075. First Republic Bank has a 12-month low of $84.47 and a 12-month high of $106.75. The firm has a market capitalization of $15.27 billion, a PE ratio of 21.92, a PEG ratio of 1.68 and a beta of 0.82. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.00 and a current ratio of 1.00.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Shareholders of record on Thursday, October 25th were paid a $0.18 dividend. The ex-dividend date was Wednesday, October 24th. This represents a $0.72 dividend on an annualized basis and a yield of 0.76%. First Republic Bank’s payout ratio is 16.71%.
A number of hedge funds have recently added to or reduced their stakes in FRC. Aperio Group LLC increased its stake in shares of First Republic Bank by 5.1% during the second quarter. Aperio Group LLC now owns 53,198 shares of the bank’s stock valued at $5,149,000 after buying an additional 2,583 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of First Republic Bank by 12.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 8,159 shares of the bank’s stock valued at $790,000 after buying an additional 871 shares during the period. Comerica Bank increased its stake in shares of First Republic Bank by 6.7% during the second quarter. Comerica Bank now owns 15,839 shares of the bank’s stock valued at $1,543,000 after buying an additional 992 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of First Republic Bank during the second quarter valued at $1,396,000. Finally, First Trust Advisors LP increased its stake in shares of First Republic Bank by 4.9% during the second quarter. First Trust Advisors LP now owns 272,237 shares of the bank’s stock valued at $26,350,000 after buying an additional 12,665 shares during the period.
About First Republic Bank
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas of the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, and passbook deposits, as well as certificates of deposit.
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