First Republic Bank (NYSE:FRC) – Research analysts at Jefferies Group lowered their Q2 2018 earnings per share estimates for First Republic Bank in a note issued to investors on Tuesday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings per share of $1.11 for the quarter, down from their prior estimate of $1.14. Jefferies Group currently has a “Hold” rating on the stock.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.05). First Republic Bank had a return on equity of 12.05% and a net margin of 26.02%. The business had revenue of $699.20 million during the quarter, compared to the consensus estimate of $688.48 million. During the same quarter last year, the firm posted $1.03 earnings per share. First Republic Bank’s revenue was up 16.6% compared to the same quarter last year.

Several other brokerages have also recently commented on FRC. Barclays cut shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $108.00 to $104.00 in a research report on Tuesday, October 10th. Royal Bank of Canada reiterated a “hold” rating on shares of First Republic Bank in a research report on Friday, September 29th. Zacks Investment Research cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Raymond James Financial dropped their price target on shares of First Republic Bank from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, October 16th. Finally, Wells Fargo & Co dropped their price target on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating on the stock in a research note on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $102.21.

Shares of First Republic Bank (NYSE:FRC) traded up $1.10 during trading on Thursday, reaching $88.40. 1,945,600 shares of the company’s stock traded hands, compared to its average volume of 1,934,445. 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 12-month low of $84.56 and a 12-month high of $105.52. The company has a market capitalization of $13,590.00, a PE ratio of 20.51, a PEG ratio of 1.37 and a beta of 0.96.

Institutional investors and hedge funds have recently modified their holdings of the stock. D.A. Davidson & CO. grew its stake in First Republic Bank by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 2,612 shares of the bank’s stock valued at $261,000 after acquiring an additional 81 shares in the last quarter. Toronto Dominion Bank grew its stake in First Republic Bank by 8.9% during the 2nd quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock valued at $212,000 after acquiring an additional 173 shares in the last quarter. Colony Group LLC grew its stake in First Republic Bank by 0.9% during the 2nd quarter. Colony Group LLC now owns 25,889 shares of the bank’s stock valued at $2,591,000 after acquiring an additional 219 shares in the last quarter. National Asset Management Inc. grew its stake in First Republic Bank by 10.4% during the 2nd quarter. National Asset Management Inc. now owns 5,001 shares of the bank’s stock valued at $503,000 after acquiring an additional 472 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in First Republic Bank by 2.0% during the 3rd quarter. Whittier Trust Co. now owns 26,816 shares of the bank’s stock valued at $2,801,000 after acquiring an additional 516 shares in the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 25th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $0.68 dividend on an annualized basis and a yield of 0.77%. First Republic Bank’s dividend payout ratio is currently 15.78%.

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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.

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

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