First Republic Bank (NYSE:FRC) – Equities research analysts at FIG Partners increased their FY2018 earnings per share (EPS) estimates for shares of First Republic Bank in a research note issued to investors on Wednesday. FIG Partners analyst T. Coffey now anticipates that the bank will post earnings of $5.73 per share for the year, up from their prior estimate of $5.17.

First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). The company had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS.

FRC has been the subject of several other research reports. Barclays lowered shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $108.00 to $104.00 in a research note on Tuesday, October 10th. Morgan Stanley reissued an “equal weight” rating and issued a $106.00 price objective on shares of First Republic Bank in a research note on Thursday, December 14th. Jefferies Group raised their price objective on shares of First Republic Bank from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Piper Jaffray Companies set a $99.00 price objective on shares of First Republic Bank and gave the company a “hold” rating in a research note on Sunday, October 15th. Finally, Raymond James Financial lowered their price objective on shares of First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $103.00.

First Republic Bank (NYSE:FRC) traded up $2.85 during midday trading on Monday, hitting $87.81. 2,166,400 shares of the stock traded hands, compared to its average volume of 2,112,400. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. First Republic Bank has a twelve month low of $84.56 and a twelve month high of $105.52. The stock has a market capitalization of $13,810.00, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.96.

A number of large investors have recently modified their holdings of FRC. Schwab Charles Investment Management Inc. raised its holdings in First Republic Bank by 5.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 532,664 shares of the bank’s stock valued at $53,320,000 after acquiring an additional 29,734 shares in the last quarter. SG Americas Securities LLC acquired a new stake in First Republic Bank in the second quarter valued at approximately $721,000. Comerica Bank raised its holdings in First Republic Bank by 2.0% in the second quarter. Comerica Bank now owns 10,832 shares of the bank’s stock valued at $1,087,000 after acquiring an additional 217 shares in the last quarter. BB&T Securities LLC raised its holdings in First Republic Bank by 9.7% in the second quarter. BB&T Securities LLC now owns 2,810 shares of the bank’s stock valued at $281,000 after acquiring an additional 249 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in First Republic Bank by 21.4% in the second quarter. Victory Capital Management Inc. now owns 16,313 shares of the bank’s stock valued at $1,633,000 after acquiring an additional 2,873 shares in the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

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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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