Brokerages Anticipate First Republic Bank (FRC) Will Post Earnings of $1.24 Per Share

Wall Street brokerages expect First Republic Bank (NYSE:FRC) to post earnings of $1.24 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for First Republic Bank’s earnings, with the lowest EPS estimate coming in at $1.17 and the highest estimate coming in at $1.29. First Republic Bank posted earnings per share of $1.10 during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The company is expected to announce its next earnings report on Tuesday, January 15th.

According to Zacks, analysts expect that First Republic Bank will report full year earnings of $4.75 per share for the current fiscal year, with EPS estimates ranging from $4.69 to $4.81. For the next financial year, analysts expect that the business will post earnings of $5.40 per share, with EPS estimates ranging from $5.25 to $5.72. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for First Republic Bank.

First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Friday, October 12th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.01). First Republic Bank had a net margin of 24.05% and a return on equity of 11.47%. The firm had revenue of $768.83 million for the quarter, compared to the consensus estimate of $765.80 million. During the same quarter last year, the company earned $1.14 earnings per share.

A number of equities research analysts have issued reports on the stock. Raymond James set a $104.00 price target on shares of First Republic Bank and gave the company a “buy” rating in a report on Monday, October 15th. Piper Jaffray Companies restated a “hold” rating and set a $94.00 price target on shares of First Republic Bank in a report on Tuesday, October 9th. Finally, Royal Bank of Canada upped their price target on shares of First Republic Bank to $102.00 and gave the company a “sector perform” rating in a report on Thursday, September 13th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. First Republic Bank currently has an average rating of “Hold” and an average target price of $102.46.

FRC stock traded down $2.31 during mid-day trading on Friday, reaching $94.47. 1,613,882 shares of the stock traded hands, compared to its average volume of 1,176,075. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.00 and a quick ratio of 1.00. First Republic Bank has a 52 week low of $84.47 and a 52 week high of $106.75. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 1.68 and a beta of 0.82.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Thursday, October 25th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Wednesday, October 24th. First Republic Bank’s dividend payout ratio is currently 16.71%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of First Republic Bank by 0.3% during the third quarter. Vanguard Group Inc. now owns 13,738,532 shares of the bank’s stock valued at $1,318,899,000 after buying an additional 46,588 shares during the last quarter. BlackRock Inc. raised its position in shares of First Republic Bank by 6.5% during the third quarter. BlackRock Inc. now owns 12,082,935 shares of the bank’s stock valued at $1,159,962,000 after buying an additional 733,112 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of First Republic Bank during the third quarter valued at about $675,106,000. JPMorgan Chase & Co. raised its position in shares of First Republic Bank by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 6,498,231 shares of the bank’s stock valued at $623,830,000 after buying an additional 121,115 shares during the last quarter. Finally, Baillie Gifford & Co. raised its position in shares of First Republic Bank by 2.0% during the third quarter. Baillie Gifford & Co. now owns 6,216,910 shares of the bank’s stock valued at $596,823,000 after buying an additional 124,761 shares during the last quarter.

First Republic Bank Company Profile

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas of the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, and passbook deposits, as well as certificates of deposit.

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

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