Q1 2017 EPS Estimates for First Republic Bank Lifted by FBR & Co (FRC)
First Republic Bank (NYSE:FRC) – Investment analysts at FBR & Co boosted their Q1 2017 EPS estimates for shares of First Republic Bank in a research note issued on Friday. FBR & Co analyst P. Miller now forecasts that the brokerage will earn $1.02 per share for the quarter, up from their prior forecast of $1.00. FBR & Co has a “Mkt Perform” rating and a $80.00 price objective on the stock. FBR & Co also issued estimates for First Republic Bank’s Q3 2017 earnings at $1.11 EPS, Q4 2017 earnings at $1.13 EPS and FY2017 earnings at $4.35 EPS.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Thursday, October 13th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01. The business earned $557.90 million during the quarter, compared to analysts’ expectations of $592.65 million. First Republic Bank had a return on equity of 12.95% and a net margin of 27.68%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 earnings per share.
A number of other research analysts also recently issued reports on the company. Barclays PLC reiterated an “overweight” rating and issued a $81.00 price target (down from $84.00) on shares of First Republic Bank in a report on Saturday. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of First Republic Bank in a report on Friday. Maxim Group boosted their target price on First Republic Bank from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday. Deutsche Bank AG boosted their target price on First Republic Bank from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Tuesday, October 11th. Finally, Zacks Investment Research downgraded First Republic Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $77.00.
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Shares of First Republic Bank (NYSE:FRC) opened at 73.32 on Monday. First Republic Bank has a 12 month low of $56.32 and a 12 month high of $79.15. The stock has a market cap of $10.99 billion, a PE ratio of 20.58 and a beta of 1.06. The firm has a 50-day moving average price of $76.66 and a 200-day moving average price of $71.69.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, October 25th. This represents a $0.64 annualized dividend and a dividend yield of 0.87%. First Republic Bank’s dividend payout ratio (DPR) is presently 17.34%.
Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of First Republic Bank by 4.8% in the second quarter. Vanguard Group Inc. now owns 10,719,022 shares of the company’s stock valued at $750,225,000 after buying an additional 493,190 shares during the period. State Street Corp boosted its position in First Republic Bank by 1.2% in the second quarter. State Street Corp now owns 3,844,088 shares of the company’s stock worth $269,054,000 after buying an additional 45,136 shares during the last quarter. Aristotle Capital Management LLC boosted its position in First Republic Bank by 1.3% in the second quarter. Aristotle Capital Management LLC now owns 3,247,093 shares of the company’s stock worth $227,264,000 after buying an additional 42,483 shares during the last quarter. Royal Bank of Canada boosted its position in First Republic Bank by 66.9% in the second quarter. Royal Bank of Canada now owns 2,320,272 shares of the company’s stock worth $162,397,000 after buying an additional 929,702 shares during the last quarter. Finally, CAM Group Holding A S boosted its position in First Republic Bank by 2.5% in the second quarter. CAM Group Holding A S now owns 2,008,028 shares of the company’s stock worth $140,542,000 after buying an additional 49,558 shares during the last quarter. 98.21% of the stock is owned by institutional investors and hedge funds.
First Republic Bank Company Profile
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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