Q4 2016 EPS Estimates for First Republic Bank Decreased by Analyst (FRC)
First Republic Bank (NYSE:FRC) – Equities researchers at Jefferies Group reduced their Q4 2016 EPS estimates for shares of First Republic Bank in a research note issued on Tuesday. Jefferies Group analyst C. Haire now forecasts that the brokerage will earn $1.02 per share for the quarter, down from their prior forecast of $1.03. Jefferies Group has a “Buy” rating and a $80.00 price target on the stock. Jefferies Group also issued estimates for First Republic Bank’s Q1 2017 earnings at $1.03 EPS, Q2 2017 earnings at $1.11 EPS, Q3 2017 earnings at $1.18 EPS and Q4 2017 earnings at $1.22 EPS.
A number of other equities analysts have also recently commented on the company. Deutsche Bank AG raised their target price on First Republic Bank from $83.00 to $85.00 and gave the stock a “hold” rating in a report on Tuesday. Zacks Investment Research cut First Republic Bank from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Barclays PLC raised their target price on First Republic Bank from $78.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, August 11th. BMO Capital Markets reiterated a “market perform” rating and set a $71.00 price target on shares of First Republic Bank in a report on Friday, July 15th. Finally, FBR & Co reaffirmed a “hold” rating on shares of First Republic Bank in a report on Sunday, July 17th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $76.46.
First Republic Bank (NYSE:FRC) traded down 4.7202% during trading on Thursday, hitting $73.4893. The stock had a trading volume of 1,988,851 shares. The company has a 50-day moving average of $76.67 and a 200 day moving average of $71.63. The firm has a market cap of $11.01 billion, a P/E ratio of 20.6257 and a beta of 1.06. First Republic Bank has a 52-week low of $56.32 and a 52-week high of $79.15.
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First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Thursday, October 13th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01. First Republic Bank had a return on equity of 12.59% and a net margin of 27.20%. The firm earned $557.90 million during the quarter, compared to analysts’ expectations of $592.65 million. During the same period in the prior year, the business earned $0.79 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year.
Several large investors have recently modified their holdings of FRC. Global X Management Co. LLC boosted its stake in shares of First Republic Bank by 180.5% in the second quarter. Global X Management Co. LLC now owns 1,798 shares of the company’s stock valued at $126,000 after buying an additional 1,157 shares during the period. Springbok Capital Management LLC bought a new position in First Republic Bank during the first quarter valued at approximately $190,000. Capstone Asset Management Co. bought a new position in First Republic Bank during the third quarter valued at approximately $204,000. Raymond James Trust N.A. bought a new position in First Republic Bank during the second quarter valued at approximately $208,000. Finally, Profund Advisors LLC bought a new position in First Republic Bank during the second quarter valued at approximately $211,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.
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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