First Republic Bank (NYSE:FRC) Posts Quarterly Earnings Results

First Republic Bank (NYSE:FRC) announced its quarterly earnings results on Wednesday. The bank reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.07, Briefing.com reports. First Republic Bank had a net margin of 26.82% and a return on equity of 12.40%. During the same period last year, the business posted $1.61 earnings per share.

Shares of FRC stock opened at $200.73 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s 50-day moving average is $198.65 and its 200-day moving average is $190.33. The stock has a market cap of $34.56 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 1.58 and a beta of 1.12. First Republic Bank has a 52-week low of $120.03 and a 52-week high of $207.66.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Thursday, October 28th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.44%. First Republic Bank’s payout ratio is 15.15%.

Several brokerages have recently issued reports on FRC. Maxim Group boosted their price target on shares of First Republic Bank from $210.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, July 14th. Morgan Stanley boosted their price target on shares of First Republic Bank from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, August 2nd. Barclays boosted their price target on shares of First Republic Bank from $177.00 to $205.00 and gave the company an “equal weight” rating in a report on Wednesday, July 14th. Keefe, Bruyette & Woods upped their target price on shares of First Republic Bank from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 13th. Finally, Credit Suisse Group upped their target price on shares of First Republic Bank from $163.00 to $180.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 14th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $186.31.

About First Republic Bank

First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.

Further Reading: Forex

Earnings History for First Republic Bank (NYSE:FRC)

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