Brokerages predict that First Republic Bank (NYSE:FRC) will announce sales of $721.57 million for the current quarter, according to Zacks. Six analysts have made estimates for First Republic Bank’s earnings. The lowest sales estimate is $704.92 million and the highest is $735.80 million. First Republic Bank posted sales of $601.14 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 20%. The company is expected to issue its next quarterly earnings report on Thursday, April 12th.
On average, analysts expect that First Republic Bank will report full year sales of $721.57 million for the current financial year, with estimates ranging from $3.00 billion to $3.13 billion. For the next financial year, analysts expect that the company will post sales of $3.54 billion per share, with estimates ranging from $3.37 billion to $3.71 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover First Republic Bank.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.05). The company had revenue of $699.20 million during the quarter, compared to analyst estimates of $688.48 million. First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. First Republic Bank’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS.
Several analysts recently commented on the company. Maxim Group reaffirmed a “buy” rating and issued a $110.00 price target on shares of First Republic Bank in a research note on Thursday, January 4th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of First Republic Bank in a research note on Wednesday, January 17th. Sandler O’Neill reissued a “hold” rating and issued a $94.00 price objective on shares of First Republic Bank in a research note on Wednesday, January 17th. Barclays boosted their price objective on First Republic Bank from $98.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada reissued a “hold” rating on shares of First Republic Bank in a research note on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. First Republic Bank currently has an average rating of “Hold” and a consensus target price of $101.54.
Shares of First Republic Bank (NYSE:FRC) opened at $95.28 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $15,031.09, a price-to-earnings ratio of 22.11, a P/E/G ratio of 1.58 and a beta of 0.91. First Republic Bank has a one year low of $84.56 and a one year high of $105.52.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 8th. Shareholders of record on Thursday, January 25th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Wednesday, January 24th. First Republic Bank’s dividend payout ratio is currently 15.78%.
Hedge funds have recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC raised its position in shares of First Republic Bank by 3,865.5% during the fourth quarter. YorkBridge Wealth Partners LLC now owns 1,150 shares of the bank’s stock worth $101,000 after acquiring an additional 1,121 shares during the last quarter. Cerebellum GP LLC bought a new stake in shares of First Republic Bank during the fourth quarter worth $127,000. Zions Bancorporation bought a new stake in shares of First Republic Bank during the third quarter worth $160,000. Mawer Investment Management Ltd. bought a new stake in shares of First Republic Bank during the third quarter worth $209,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of First Republic Bank during the third quarter worth $209,000.
About First Republic Bank
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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