First Republic Bank (NYSE:FRC) – Investment analysts at Piper Jaffray Companies raised their FY2019 EPS estimates for First Republic Bank in a report released on Tuesday, October 15th. Piper Jaffray Companies analyst M. Clark now expects that the bank will earn $5.08 per share for the year, up from their prior estimate of $4.97. Piper Jaffray Companies also issued estimates for First Republic Bank’s Q4 2019 earnings at $1.26 EPS, Q2 2021 earnings at $1.53 EPS and Q3 2021 earnings at $1.65 EPS.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Tuesday, October 15th. The bank reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.10. First Republic Bank had a return on equity of 11.23% and a net margin of 22.69%. The firm had revenue of $837.19 million for the quarter, compared to analyst estimates of $830.60 million. During the same period last year, the company earned $1.19 EPS.
Several other equities analysts have also weighed in on FRC. Citigroup lifted their price objective on First Republic Bank from $111.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered First Republic Bank from a “hold” rating to a “sell” rating and set a $104.00 price objective on the stock. in a research note on Friday, July 5th. Bank of America lifted their price objective on First Republic Bank from $99.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday. Maxim Group lifted their price objective on First Republic Bank from $110.00 to $116.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating on shares of First Republic Bank in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $104.69.
NYSE FRC opened at $104.18 on Friday. The firm has a market capitalization of $17.40 billion, a P/E ratio of 21.66, a P/E/G ratio of 3.52 and a beta of 0.89. First Republic Bank has a 1-year low of $79.42 and a 1-year high of $107.75. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.02 and a quick ratio of 1.01. The business’s 50-day simple moving average is $94.56 and its 200-day simple moving average is $97.76.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Wednesday, October 30th. First Republic Bank’s dividend payout ratio is currently 15.80%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its holdings in shares of First Republic Bank by 61,502.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,264,073 shares of the bank’s stock valued at $123,437,000 after buying an additional 1,262,021 shares during the period. Swedbank purchased a new stake in shares of First Republic Bank during the 2nd quarter valued at about $101,370,000. BlackRock Inc. raised its holdings in shares of First Republic Bank by 3.0% during the 2nd quarter. BlackRock Inc. now owns 12,147,623 shares of the bank’s stock valued at $1,186,214,000 after buying an additional 350,766 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of First Republic Bank during the 2nd quarter valued at about $26,893,000. Finally, Natixis purchased a new stake in shares of First Republic Bank during the 2nd quarter valued at about $24,274,000.
First Republic Bank Company Profile
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 in 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, passbook deposits, and individual retirement accounts, as well as certificates of deposit.
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