First Republic Bank Plans Quarterly Dividend of $0.20 (NYSE:FRC)

First Republic Bank (NYSE:FRC) declared a quarterly dividend on Thursday, January 14th, RTT News reports. Stockholders of record on Thursday, January 28th will be given a dividend of 0.20 per share by the bank on Thursday, February 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%.

First Republic Bank has increased its dividend by 17.9% over the last three years and has raised its dividend every year for the last 6 years.

FRC stock opened at $161.25 on Thursday. The company has a market cap of $27.77 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 2.69 and a beta of 1.05. First Republic Bank has a 1 year low of $70.06 and a 1 year high of $164.92. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s fifty day moving average price is $140.04 and its 200-day moving average price is $122.54.

First Republic Bank (NYSE:FRC) last announced its earnings results on Sunday, October 18th. The bank reported $1.61 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.23. First Republic Bank had a return on equity of 10.96% and a net margin of 22.95%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $971.68 million. During the same period last year, the firm earned $1.31 EPS. As a group, analysts expect that First Republic Bank will post 5.69 earnings per share for the current year.

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on First Republic Bank from $148.00 to $160.00 in a report on Tuesday, December 15th. Royal Bank of Canada upped their price target on shares of First Republic Bank from $116.00 to $130.00 in a report on Wednesday, October 14th. Citigroup upped their price target on shares of First Republic Bank from $114.00 to $123.00 and gave the company a “neutral” rating in a report on Thursday, October 15th. Credit Suisse Group lowered shares of First Republic Bank from a “neutral” rating to an “underperform” rating and upped their price target for the company from $117.00 to $126.00 in a report on Friday, December 11th. Finally, Keefe, Bruyette & Woods upped their price target on shares of First Republic Bank from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, November 18th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average 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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