First Republic Bank (NYSE:FRC) announced a quarterly dividend on Friday, January 14th, RTT News reports. Shareholders of record on Thursday, January 27th will be paid a dividend of 0.22 per share by the bank on Thursday, February 10th. This represents a $0.88 dividend on an annualized basis and a yield of 0.44%.
First Republic Bank has increased its dividend by 21.1% over the last three years and has raised its dividend every year for the last 9 years. First Republic Bank has a payout ratio of 9.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Republic Bank to earn $8.13 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 10.8%.
FRC stock opened at $200.52 on Friday. The company’s 50 day moving average price is $209.89 and its 200 day moving average price is $203.36. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.96 and a current ratio of 0.96. First Republic Bank has a fifty-two week low of $143.60 and a fifty-two week high of $222.86. The firm has a market capitalization of $35.35 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.48 and a beta of 1.09.
FRC has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on shares of First Republic Bank from $208.00 to $212.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 14th. JPMorgan Chase & Co. upped their price target on First Republic Bank from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, December 15th. UBS Group began coverage on First Republic Bank in a report on Wednesday. They issued a “neutral” rating and a $210.00 price target for the company. Morgan Stanley began coverage on First Republic Bank in a report on Tuesday. They issued an “equal weight” rating and a $225.00 price target for the company. Finally, Barclays upped their price target on First Republic Bank from $215.00 to $223.00 and gave the company an “equal weight” rating in a report on Monday, January 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $207.08.
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.
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