First Republic Bank (NYSE:FRC) Announces Earnings Results, Beats Expectations By $0.07 EPS

First Republic Bank (NYSE:FRC) posted its earnings results on Tuesday. The bank reported $1.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.07, MarketWatch Earnings reports. First Republic Bank had a net margin of 26.82% and a return on equity of 12.40%. During the same quarter last year, the firm posted $1.61 EPS.

Shares of First Republic Bank stock opened at $204.85 on Thursday. First Republic Bank has a 52-week low of $120.03 and a 52-week high of $207.66. The stock has a market capitalization of $35.27 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. The company has a fifty day moving average of $198.83 and a 200-day moving average of $190.43. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.97.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Thursday, October 28th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.43%. First Republic Bank’s dividend payout ratio (DPR) is 15.15%.

FRC has been the topic of a number of analyst reports. Barclays upped their target price on shares of First Republic Bank from $205.00 to $215.00 and gave the stock an “equal weight” rating in a report on Thursday. Credit Suisse Group upped their target price on shares of First Republic Bank from $163.00 to $180.00 and gave the stock an “underperform” rating in a report on Wednesday, July 14th. Keefe, Bruyette & Woods upped their target price on shares of First Republic Bank from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, July 13th. Morgan Stanley increased their price target on shares of First Republic Bank from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, August 2nd. Finally, Maxim Group increased their price target on shares of First Republic Bank from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 14th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $187.08.

About First Republic Bank

First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.

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Earnings History for First Republic Bank (NYSE:FRC)

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