FIG Partners Analysts Reduce Earnings Estimates for First Republic Bank (FRC)

First Republic Bank (NYSE:FRC) – Equities research analysts at FIG Partners dropped their Q1 2018 EPS estimates for First Republic Bank in a research report issued on Wednesday. FIG Partners analyst T. Coffey now expects that the bank will post earnings per share of $1.08 for the quarter, down from their previous forecast of $1.46. FIG Partners also issued estimates for First Republic Bank’s Q2 2018 earnings at $1.13 EPS, Q3 2018 earnings at $1.20 EPS, Q4 2018 earnings at $1.24 EPS, FY2018 earnings at $4.67 EPS, Q1 2019 earnings at $1.26 EPS, Q3 2019 earnings at $1.44 EPS and Q4 2019 earnings at $1.52 EPS.

FRC has been the topic of a number of other reports. BMO Capital Markets reduced their price objective on shares of First Republic Bank from $96.00 to $92.00 and set a “market perform” rating on the stock in a report on Monday, October 16th. Royal Bank of Canada restated a “hold” rating on shares of First Republic Bank in a report on Friday, September 29th. Keefe, Bruyette & Woods restated a “hold” rating on shares of First Republic Bank in a report on Wednesday. Barclays raised their price objective on shares of First Republic Bank from $98.00 to $101.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Maxim Group restated a “buy” rating and issued a $110.00 price objective on shares of First Republic Bank in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $102.21.

Shares of First Republic Bank (NYSE:FRC) opened at $85.97 on Friday. First Republic Bank has a fifty-two week low of $84.56 and a fifty-two week high of $105.52. The firm has a market cap of $13,945.67, a price-to-earnings ratio of 19.95, a PEG ratio of 1.41 and a beta of 0.96. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.94 and a quick ratio of 0.94.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Tuesday, January 16th. The bank reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.05). First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. The firm had revenue of $699.20 million during the quarter, compared to analyst estimates of $688.48 million. During the same quarter in the previous year, the business posted $1.03 earnings per share. First Republic Bank’s revenue for the quarter was up 16.6% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 25th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Wednesday, January 24th. First Republic Bank’s dividend payout ratio (DPR) is 15.78%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Zions Bancorporation purchased a new position in shares of First Republic Bank in the 3rd quarter valued at $160,000. Mawer Investment Management Ltd. purchased a new position in First Republic Bank during the 3rd quarter worth $209,000. Cambridge Investment Research Advisors Inc. purchased a new position in First Republic Bank during the 3rd quarter worth $209,000. Brookmont Capital Management purchased a new position in First Republic Bank during the 3rd quarter worth $210,000. Finally, Toronto Dominion Bank grew its position in First Republic Bank by 8.9% during the 2nd quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock worth $212,000 after purchasing an additional 173 shares during the last quarter. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

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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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