First Republic Bank Announces Quarterly Dividend of $0.22 (NYSE:FRC)

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.

First Republic Bank (NYSE:FRC) last released its earnings results on Friday, January 14th. The bank reported $2.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.09. First Republic Bank had a net margin of 27.09% and a return on equity of 12.47%. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. Equities analysts forecast that First Republic Bank will post 7.59 EPS for the current fiscal year.

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.

Further Reading: What are CEFs?

Dividend History for First Republic Bank (NYSE:FRC)

Receive News & Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related companies with MarketBeat.com's FREE daily email newsletter.