Zacks: Brokerages Expect First Republic Bank (FRC) Will Announce Earnings of $1.23 Per Share

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Equities research analysts forecast that First Republic Bank (NYSE:FRC) will report earnings of $1.23 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for First Republic Bank’s earnings, with the lowest EPS estimate coming in at $1.15 and the highest estimate coming in at $1.27. First Republic Bank reported earnings per share of $1.13 during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.8%. The firm is expected to issue its next quarterly earnings results on Friday, April 12th.

On average, analysts expect that First Republic Bank will report full year earnings of $5.34 per share for the current financial year, with EPS estimates ranging from $5.16 to $5.50. For the next financial year, analysts forecast that the firm will report earnings of $6.04 per share, with EPS estimates ranging from $5.88 to $6.20. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow First Republic Bank.

First Republic Bank (NYSE:FRC) last posted its earnings results on Tuesday, January 15th. The bank reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.05. First Republic Bank had a return on equity of 11.62% and a net margin of 23.88%. The business had revenue of $810.75 million for the quarter, compared to analysts’ expectations of $812.10 million. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year.

A number of analysts have recently commented on FRC shares. Stephens upgraded First Republic Bank from an “equal weight” rating to an “overweight” rating in a research report on Thursday, December 20th. Raymond James lowered First Republic Bank from an “outperform” rating to a “market perform” rating in a report on Monday, January 7th. Robert W. Baird assumed coverage on First Republic Bank in a report on Thursday, December 20th. They set a “neutral” rating and a $92.00 price target on the stock. Morgan Stanley lowered their price target on First Republic Bank from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 11th. Finally, Wells Fargo & Co raised First Republic Bank from a “market perform” rating to an “outperform” rating and set a $87.50 price target on the stock in a report on Wednesday, January 2nd. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. First Republic Bank presently has a consensus rating of “Hold” and a consensus target price of $102.15.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB boosted its holdings in First Republic Bank by 42.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 26,637 shares of the bank’s stock valued at $2,315,000 after purchasing an additional 7,900 shares in the last quarter. First Interstate Bank boosted its holdings in First Republic Bank by 191.2% in the 4th quarter. First Interstate Bank now owns 1,022 shares of the bank’s stock valued at $89,000 after purchasing an additional 671 shares in the last quarter. Wetherby Asset Management Inc. boosted its holdings in First Republic Bank by 4.9% in the 4th quarter. Wetherby Asset Management Inc. now owns 2,663 shares of the bank’s stock valued at $231,000 after purchasing an additional 125 shares in the last quarter. Bradley Foster & Sargent Inc. CT boosted its holdings in First Republic Bank by 2.2% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 5,875 shares of the bank’s stock valued at $511,000 after purchasing an additional 125 shares in the last quarter. Finally, Davidson Investment Advisors boosted its holdings in First Republic Bank by 38.9% in the 4th quarter. Davidson Investment Advisors now owns 97,130 shares of the bank’s stock valued at $8,441,000 after purchasing an additional 27,193 shares in the last quarter.

Shares of FRC traded down $0.48 during midday trading on Thursday, reaching $96.57. 53,507 shares of the stock were exchanged, compared to its average volume of 2,130,973. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.99 and a current ratio of 0.99. First Republic Bank has a twelve month low of $79.42 and a twelve month high of $106.75. The stock has a market capitalization of $15.15 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Thursday, January 31st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Wednesday, January 30th. First Republic Bank’s dividend payout ratio is currently 14.97%.

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 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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