First Republic Bank to Post Q1 2018 Earnings of $1.14 Per Share, Jefferies Group Forecasts (FRC)
First Republic Bank (NYSE:FRC) – Research analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for First Republic Bank in a research report issued to clients and investors on Tuesday. Jefferies Group analyst C. Haire expects that the bank will earn $1.14 per share for the quarter. Jefferies Group currently has a “Buy” rating and a $120.00 target price on the stock. Jefferies Group also issued estimates for First Republic Bank’s Q2 2018 earnings at $1.22 EPS, Q3 2018 earnings at $1.31 EPS and Q4 2018 earnings at $1.38 EPS.
First Republic Bank (NYSE:FRC) last posted its earnings results on Friday, July 14th. The bank reported $1.06 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.03). First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. The business had revenue of $641.30 million for the quarter, compared to analyst estimates of $671.27 million. During the same quarter last year, the business earned $0.97 earnings per share. First Republic Bank’s revenue was up 19.8% on a year-over-year basis.
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FRC has been the subject of a number of other reports. Royal Bank Of Canada reaffirmed a “hold” rating on shares of First Republic Bank in a report on Friday, September 29th. BidaskClub lowered shares of First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Maxim Group reiterated a “buy” rating and issued a $110.00 price target (up from $105.00) on shares of First Republic Bank in a research report on Friday, July 14th. Barclays PLC restated an “equal weight” rating and set 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 restated a “hold” rating and set a $96.00 target price on shares of First Republic Bank in a research report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $104.92.
First Republic Bank (NYSE FRC) traded down 0.84% during midday trading on Wednesday, reaching $103.26. The company had a trading volume of 174,495 shares. The stock has a market capitalization of $16.29 billion, a PE ratio of 25.19 and a beta of 1.01. The firm’s 50 day moving average is $99.33 and its 200 day moving average is $97.16. First Republic Bank has a 1-year low of $72.40 and a 1-year high of $105.52.
Several hedge funds have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of First Republic Bank by 0.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock valued at $195,000 after acquiring an additional 5 shares during the period. Alps Advisors Inc. increased its stake in First Republic Bank by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 4,979 shares of the bank’s stock worth $498,000 after buying an additional 13 shares during the period. Somerset Trust Co increased its stake in First Republic Bank by 0.4% during the 2nd quarter. Somerset Trust Co now owns 9,186 shares of the bank’s stock worth $919,000 after buying an additional 40 shares during the period. Global X Management Co. LLC increased its stake in First Republic Bank by 1.1% during the 2nd quarter. Global X Management Co. LLC now owns 5,935 shares of the bank’s stock worth $594,000 after buying an additional 62 shares during the period. Finally, Xact Kapitalforvaltning AB increased its stake in First Republic Bank by 0.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 19,486 shares of the bank’s stock worth $1,951,000 after buying an additional 65 shares during the period. 97.73% of the stock is currently owned by institutional investors and hedge funds.
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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