First Republic Bank (NYSE:FRC – Get Rating) is set to issue its quarterly earnings data before the market opens on Wednesday, April 13th. Analysts expect the company to announce earnings of $1.89 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.
First Republic Bank (NYSE:FRC – Get Rating) last announced its quarterly earnings results on Friday, January 14th. The bank reported $2.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.10. First Republic Bank had a net margin of 27.86% and a return on equity of 12.82%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year. On average, analysts expect First Republic Bank to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.
NYSE:FRC opened at $159.82 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.45. First Republic Bank has a 12 month low of $155.67 and a 12 month high of $222.86. The company has a market cap of $28.18 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.14 and a beta of 1.12. The company has a 50 day simple moving average of $168.43 and a two-hundred day simple moving average of $192.33.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 10th. Stockholders of record on Thursday, January 27th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, January 26th. First Republic Bank’s payout ratio is 11.47%.
Several hedge funds and other institutional investors have recently bought and sold shares of FRC. California State Teachers Retirement System boosted its stake in shares of First Republic Bank by 1.9% during the fourth quarter. California State Teachers Retirement System now owns 313,070 shares of the bank’s stock worth $64,652,000 after buying an additional 5,887 shares during the period. Comerica Bank raised its position in First Republic Bank by 24.8% during the fourth quarter. Comerica Bank now owns 36,514 shares of the bank’s stock worth $6,196,000 after acquiring an additional 7,264 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of First Republic Bank during the fourth quarter worth about $855,000. Glenmede Trust Co. NA grew its holdings in shares of First Republic Bank by 5.7% during the fourth quarter. Glenmede Trust Co. NA now owns 3,449 shares of the bank’s stock worth $712,000 after buying an additional 186 shares in the last quarter. Finally, Penserra Capital Management LLC grew its holdings in First Republic Bank by 7.1% in the fourth quarter. Penserra Capital Management LLC now owns 3,390 shares of the bank’s stock valued at $592,000 after purchasing an additional 225 shares during the period. 94.20% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on FRC shares. StockNews.com began coverage on shares of First Republic Bank in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Evercore ISI upgraded shares of First Republic Bank from an “in-line” rating to an “outperform” rating and upped their target price for the company from $215.00 to $220.00 in a research report on Tuesday, January 18th. UBS Group decreased their target price on shares of First Republic Bank from $210.00 to $188.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 22nd. The Goldman Sachs Group cut their price target on shares of First Republic Bank from $209.00 to $178.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Maxim Group restated a “buy” rating and issued a $250.00 target price on shares of First Republic Bank in a research note on Friday, January 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, First Republic Bank has an average rating of “Hold” and a consensus target price of $201.13.
About First Republic Bank
First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.