First Republic Bank (NYSE:FRC) – Research analysts at FIG Partners boosted their FY2017 earnings estimates for First Republic Bank in a research report issued to clients and investors on Thursday. FIG Partners analyst T. Coffey now anticipates that the bank will earn $4.43 per share for the year, up from their previous estimate of $4.42. FIG Partners also issued estimates for First Republic Bank’s Q4 2017 earnings at $1.22 EPS, Q3 2018 earnings at $1.30 EPS, Q4 2018 earnings at $1.34 EPS and FY2018 earnings at $5.17 EPS.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings data on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The business had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. During the same period in the previous year, the business posted $1.00 earnings per share. The company’s revenue for the quarter was up 20.1% on a year-over-year basis.
Several other analysts have also recently commented on FRC. BidaskClub cut shares of First Republic Bank from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Piper Jaffray Companies restated a “hold” rating and issued a $99.00 target price on shares of First Republic Bank in a research note on Friday, September 1st. Jefferies Group restated a “buy” rating and issued a $109.00 target price on shares of First Republic Bank in a research note on Friday, September 15th. Zacks Investment Research cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a research note on Monday, September 18th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of First Republic Bank in a research note on Friday, September 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $102.93.
Shares of First Republic Bank (FRC) opened at $93.80 on Monday. First Republic Bank has a 52 week low of $84.50 and a 52 week high of $105.52. The company has a market cap of $15,094.14, a price-to-earnings ratio of 22.57, a PEG ratio of 1.78 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barnett & Company Inc. acquired a new stake in shares of First Republic Bank in the second quarter valued at about $100,000. Shine Investment Advisory Services Inc. acquired a new stake in shares of First Republic Bank in the second quarter valued at about $128,000. Parallel Advisors LLC lifted its stake in shares of First Republic Bank by 21.4% in the second quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock valued at $132,000 after purchasing an additional 232 shares during the period. Creative Planning lifted its stake in shares of First Republic Bank by 21.3% in the second quarter. Creative Planning now owns 1,407 shares of the bank’s stock valued at $141,000 after purchasing an additional 247 shares during the period. Finally, Zions Bancorporation acquired a new stake in shares of First Republic Bank in the third quarter valued at about $160,000. Hedge funds and other institutional investors own 99.14% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Thursday, October 26th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Wednesday, October 25th. First Republic Bank’s dividend payout ratio (DPR) is 16.04%.
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First Republic Bank Company Profile
First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.
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