Q3 2019 EPS Estimates for First Republic Bank (NYSE:FRC) Decreased by Piper Jaffray Companies

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First Republic Bank (NYSE:FRC) – Equities researchers at Piper Jaffray Companies cut their Q3 2019 earnings per share estimates for shares of First Republic Bank in a research note issued to investors on Tuesday, July 16th. Piper Jaffray Companies analyst M. Clark now expects that the bank will post earnings of $1.26 per share for the quarter, down from their previous estimate of $1.38. Piper Jaffray Companies also issued estimates for First Republic Bank’s Q4 2019 earnings at $1.29 EPS, FY2019 earnings at $5.05 EPS, Q1 2020 earnings at $1.24 EPS, Q2 2020 earnings at $1.36 EPS and FY2020 earnings at $5.65 EPS.

A number of other equities research analysts have also weighed in on the company. Maxim Group reissued a “buy” rating and issued a $110.00 target price on shares of First Republic Bank in a research note on Wednesday. Wedbush reissued an “outperform” rating on shares of First Republic Bank in a research note on Tuesday. Stephens reissued a “hold” rating and issued a $33.00 target price on shares of Bancorpsouth Bank in a research note on Thursday, March 21st. Credit Suisse Group reissued a “buy” rating and issued a $90.00 target price on shares of Bayerische Motoren Werke in a research note on Thursday. Finally, BMO Capital Markets boosted their target price on Citigroup from $92.00 to $93.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. First Republic Bank has an average rating of “Hold” and a consensus target price of $103.08.

NYSE FRC opened at $95.86 on Wednesday. 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 1.34, a quick ratio of 0.99 and a current ratio of 1.01. The firm has a 50-day moving average of $97.72. The company has a market cap of $15.77 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.89 and a beta of 0.89.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Tuesday, July 16th. The bank reported $1.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.02). First Republic Bank had a return on equity of 11.30% and a net margin of 22.94%. The firm had revenue of $819.38 million for the quarter, compared to the consensus estimate of $836.26 million. During the same period last year, the firm earned $1.20 EPS.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Destination Wealth Management bought a new position in First Republic Bank during the 1st quarter valued at approximately $32,000. Carroll Financial Associates Inc. grew its holdings in shares of First Republic Bank by 112.6% during the 1st quarter. Carroll Financial Associates Inc. now owns 404 shares of the bank’s stock worth $40,000 after acquiring an additional 214 shares during the period. First Personal Financial Services grew its holdings in shares of First Republic Bank by 61.5% during the 1st quarter. First Personal Financial Services now owns 507 shares of the bank’s stock worth $51,000 after acquiring an additional 193 shares during the period. Clean Yield Group purchased a new position in shares of First Republic Bank during the 1st quarter worth approximately $52,000. Finally, Captrust Financial Advisors grew its holdings in shares of First Republic Bank by 199.4% during the 4th quarter. Captrust Financial Advisors now owns 521 shares of the bank’s stock worth $45,000 after acquiring an additional 347 shares during the period.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, July 24th. First Republic Bank’s payout ratio is 15.80%.

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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Earnings History and Estimates for First Republic Bank (NYSE:FRC)

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