First Republic Bank (NYSE:FRC) – Equities research analysts at Jefferies Group boosted their FY2017 earnings per share (EPS) estimates for First Republic Bank in a research report issued to clients and investors on Monday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings per share of $4.41 for the year, up from their previous forecast of $4.40. Jefferies Group currently has a “Buy” rating and a $109.00 target price on the stock.

First Republic Bank (NYSE:FRC) last posted its earnings results on Friday, July 14th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.03. First Republic Bank had a return on equity of 12.16% and a net margin of 27.37%. The firm had revenue of $641.30 million during the quarter, compared to the consensus estimate of $671.27 million. During the same quarter in the previous year, the company earned $0.97 EPS. The business’s revenue was up 19.8% compared to the same quarter last year.

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Other equities analysts have also issued research reports about the company. BidaskClub raised First Republic Bank from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Maxim Group reissued a “buy” rating and issued a $110.00 target price (up previously from $105.00) on shares of First Republic Bank in a research report on Friday, July 14th. Morgan Stanley decreased their target price on First Republic Bank from $102.00 to $98.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 6th. Barclays PLC reissued an “equal weight” rating and issued a $110.00 target price (up previously from $101.00) on shares of First Republic Bank in a research report on Wednesday, July 12th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $98.00 target price on shares of First Republic Bank in a research report on Wednesday, March 22nd. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $104.54.

First Republic Bank (FRC) opened at 99.725 on Thursday. First Republic Bank has a 52-week low of $70.01 and a 52-week high of $104.17. The company’s 50-day moving average is $99.72 and its 200 day moving average is $94.98. The company has a market cap of $15.73 billion, a price-to-earnings ratio of 24.329 and a beta of 0.99.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Wealth Partners LLC raised its position in shares of First Republic Bank by 11.3% in the first quarter. Private Wealth Partners LLC now owns 70,367 shares of the bank’s stock worth $6,601,000 after buying an additional 7,167 shares in the last quarter. Barometer Capital Management Inc. raised its position in shares of First Republic Bank by 19.2% in the first quarter. Barometer Capital Management Inc. now owns 90,200 shares of the bank’s stock worth $8,462,000 after buying an additional 14,500 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of First Republic Bank by 28.8% in the first quarter. Raymond James Trust N.A. now owns 3,076 shares of the bank’s stock worth $288,000 after buying an additional 687 shares in the last quarter. Howland Capital Management LLC raised its position in shares of First Republic Bank by 0.8% in the first quarter. Howland Capital Management LLC now owns 130,465 shares of the bank’s stock worth $12,239,000 after buying an additional 1,021 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its position in shares of First Republic Bank by 12.4% in the first quarter. Gulf International Bank UK Ltd now owns 47,115 shares of the bank’s stock worth $4,419,000 after buying an additional 5,200 shares in the last quarter. Institutional investors own 98.66% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Thursday, July 27th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, July 25th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.68%. First Republic Bank’s dividend payout ratio (DPR) is presently 16.59%.

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.

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

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