First Republic Bank (NYSE:FRC) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS


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First Republic Bank (NYSE:FRC) issued its quarterly earnings data on Wednesday. The bank reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.08, MarketWatch Earnings reports. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.04 billion. First Republic Bank had a net margin of 22.95% and a return on equity of 10.96%. The company’s quarterly revenue was up 25.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 EPS.

FRC stock opened at $158.04 on Friday. The company has a fifty day moving average price of $140.61 and a 200-day moving average price of $122.83. The company has a market capitalization of $27.21 billion, a P/E ratio of 28.22, a PEG ratio of 3.27 and a beta of 1.06. First Republic Bank has a 52-week low of $70.06 and a 52-week high of $166.82. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.03 and a current ratio of 1.03.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 11th. Stockholders of record on Thursday, January 28th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. First Republic Bank’s payout ratio is currently 15.38%.

A number of research analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of First Republic Bank from $142.00 to $147.00 and gave the company an “equal weight” rating in a research report on Thursday, January 7th. Maxim Group upped their target price on shares of First Republic Bank from $128.00 to $150.00 in a research report on Wednesday, October 14th. JPMorgan Chase & Co. upped their target price on shares of First Republic Bank from $148.00 to $160.00 in a research report on Tuesday, December 15th. Citigroup upped their target price on shares of First Republic Bank from $114.00 to $123.00 and gave the stock a “neutral” rating in a research report on Thursday, October 15th. Finally, Zacks Investment Research downgraded shares of First Republic Bank from a “buy” rating to a “hold” rating and set a $136.00 target price on the stock. in a research report on Tuesday, December 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $128.71.

About First Republic Bank

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 in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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Earnings History for First Republic Bank (NYSE:FRC)

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