$719.01 Million in Sales Expected for First Republic Bank (FRC) This Quarter

Wall Street analysts expect that First Republic Bank (NYSE:FRC) will post sales of $719.01 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for First Republic Bank’s earnings, with the highest sales estimate coming in at $735.80 million and the lowest estimate coming in at $689.56 million. First Republic Bank posted sales of $601.14 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.6%. The company is expected to issue its next earnings report on Thursday, April 12th.

According to Zacks, analysts expect that First Republic Bank will report full-year sales of $719.01 million for the current fiscal year, with estimates ranging from $2.96 billion to $3.13 billion. For the next year, analysts anticipate that the business will post sales of $3.54 billion per share, with estimates ranging from $3.37 billion to $3.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow First Republic Bank.

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

FRC has been the topic of several research reports. Jefferies Group boosted 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 report on Friday, September 29th. Sandler O’Neill reaffirmed a “hold” rating and issued a $94.00 price objective on shares of First Republic Bank in a research report on Wednesday, January 17th. Barclays set a $102.00 price objective on shares of First Republic Bank and gave the company a “hold” rating in a research report on Monday, October 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $87.00 price objective on shares of First Republic Bank in a research report on Friday, October 13th. Finally, 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 report on Sunday, October 15th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $102.21.

Shares of First Republic Bank (NYSE:FRC) opened at $89.93 on Monday. The company has a market cap of $14,187.04, a price-to-earnings ratio of 20.87, a P/E/G ratio of 1.47 and a beta of 0.96. First Republic Bank has a 52-week low of $84.56 and a 52-week high of $105.52. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.94 and a quick ratio of 0.94.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Thursday, January 25th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $0.68 annualized dividend and a yield of 0.76%. First Republic Bank’s dividend payout ratio (DPR) is presently 15.78%.

A number of large investors have recently modified their holdings of the business. Zions Bancorporation bought a new stake in shares of First Republic Bank in the 3rd quarter valued at about $160,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of First Republic Bank in the 3rd quarter valued at about $209,000. Mawer Investment Management Ltd. bought a new stake in shares of First Republic Bank in the 3rd quarter valued at about $209,000. Brookmont Capital Management bought a new stake in shares of First Republic Bank in the 3rd quarter valued at about $210,000. Finally, Toronto Dominion Bank raised its holdings in shares of First Republic Bank by 8.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock valued at $212,000 after purchasing an additional 173 shares during the period. 98.29% 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.

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

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