First Republic Bank (FRC) Scheduled to Post Earnings on Thursday
First Republic Bank (NYSE:FRC) will be issuing its Q316 quarterly earnings data on Thursday, October 13th. Analysts expect the company to announce earnings of $0.99 per share and revenue of $593.04 million for the quarter. Parties interested in participating in the company’s conference call can do so using this link.
First Republic Bank (NYSE:FRC) last released its earnings results on Thursday, July 14th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. First Republic Bank had a net margin of 27.20% and a return on equity of 12.59%. The business had revenue of $535.10 million for the quarter, compared to the consensus estimate of $568.53 million. During the same period in the previous year, the firm earned $0.73 EPS. On average, analysts expect First Republic Bank to post $3.91 EPS for the current fiscal year and $4.41 EPS for the next fiscal year.
Shares of First Republic Bank (NYSE:FRC) opened at 77.53 on Wednesday. The company has a market capitalization of $11.62 billion, a P/E ratio of 21.76 and a beta of 1.06. The company has a 50 day moving average of $76.56 and a 200-day moving average of $71.59. First Republic Bank has a 12-month low of $56.32 and a 12-month high of $79.15.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its position in First Republic Bank by 18.4% in the second quarter. Prudential Financial Inc. now owns 3,868 shares of the company’s stock worth $271,000 after buying an additional 600 shares during the last quarter. BlackRock Inc. increased its position in First Republic Bank by 28.8% in the second quarter. BlackRock Inc. now owns 157,908 shares of the company’s stock worth $11,052,000 after buying an additional 35,340 shares during the last quarter. BlackRock Fund Advisors increased its position in First Republic Bank by 3.1% in the second quarter. BlackRock Fund Advisors now owns 1,608,434 shares of the company’s stock worth $112,574,000 after buying an additional 48,434 shares during the last quarter. BlackRock Group LTD increased its position in First Republic Bank by 16.6% in the second quarter. BlackRock Group LTD now owns 972,296 shares of the company’s stock worth $68,051,000 after buying an additional 138,289 shares during the last quarter. Finally, US Bancorp DE increased its position in First Republic Bank by 6.6% in the second quarter. US Bancorp DE now owns 19,135 shares of the company’s stock worth $1,338,000 after buying an additional 1,190 shares during the last quarter. Institutional investors own 98.24% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Deutsche Bank AG upped their target price on shares of First Republic Bank from $83.00 to $85.00 and gave the stock a “hold” rating in a report on Tuesday. Zacks Investment Research lowered shares of First Republic Bank from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Barclays PLC upped their target price on shares of First Republic Bank from $78.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, August 11th. FBR & Co reaffirmed a “hold” rating on shares of First Republic Bank in a report on Sunday, July 17th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of First Republic Bank in a report on Sunday, July 17th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. First Republic Bank presently has a consensus rating of “Buy” and an average price target of $76.46.
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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