Q4 2017 EPS Estimates for First Republic Bank Lifted by Analyst (FRC)
First Republic Bank (NYSE:FRC) – Analysts at FIG Partners increased their Q4 2017 earnings estimates for shares of First Republic Bank in a research report issued on Wednesday. FIG Partners analyst T. Coffey now expects that the bank will earn $1.41 per share for the quarter, up from their previous estimate of $1.22. FIG Partners also issued estimates for First Republic Bank’s FY2019 earnings at $6.13 EPS.
A number of other equities analysts have also weighed in on the stock. Barclays upped their target price on shares of First Republic Bank from $98.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Jefferies Group lowered shares of First Republic Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $106.00 target price on shares of First Republic Bank in a research note on Thursday, December 14th. Zacks Investment Research raised shares of First Republic Bank from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. Finally, Raymond James Financial reduced their target price 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 given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $103.00.
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 Zacks’ consensus estimate of $1.16 by ($0.02). The company had revenue of $670.30 million during the quarter, compared to analyst estimates of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. First Republic Bank’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 earnings per share.
Institutional investors have recently bought and sold shares of the company. Zions Bancorporation acquired a new position in shares of First Republic Bank during the 3rd quarter worth about $160,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of First Republic Bank by 0.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after buying an additional 5 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of First Republic Bank during the 3rd quarter worth about $209,000. Mawer Investment Management Ltd. acquired a new position in shares of First Republic Bank during the 3rd quarter worth about $209,000. Finally, Brookmont Capital Management acquired a new position in shares of First Republic Bank during the 3rd quarter worth about $210,000. Institutional investors own 98.75% of the company’s stock.
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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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