First Republic Bank (NYSE:FRC) announced its earnings results on Friday. The bank reported $2.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.10, MarketWatch Earnings reports. First Republic Bank had a return on equity of 12.47% and a net margin of 27.09%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $1.60 EPS. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis.
Shares of NYSE FRC traded down $8.46 during midday trading on Friday, reaching $192.06. 2,056,326 shares of the company were exchanged, compared to its average volume of 885,053. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.80. First Republic Bank has a 1 year low of $143.60 and a 1 year high of $222.86. The stock has a fifty day simple moving average of $209.35 and a 200 day simple moving average of $203.40. The stock has a market cap of $33.86 billion, a P/E ratio of 26.49, a PEG ratio of 1.43 and a beta of 1.09.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 10th. Shareholders of record on Thursday, January 27th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Wednesday, January 26th. First Republic Bank’s payout ratio is 12.14%.
Several analysts have weighed in on FRC shares. JPMorgan Chase & Co. boosted their price target on First Republic Bank from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, December 15th. Royal Bank of Canada boosted their price target on First Republic Bank from $208.00 to $212.00 and gave the company a “sector perform” rating in a research note on Thursday, October 14th. Morgan Stanley started coverage on First Republic Bank in a research note on Tuesday. They set an “equal weight” rating and a $225.00 price target on the stock. Barclays boosted their price target on First Republic Bank from $215.00 to $223.00 and gave the company an “equal weight” rating in a research note on Monday, January 3rd. Finally, UBS Group started coverage on First Republic Bank in a report on Wednesday. They issued a “neutral” rating and a $210.00 price objective for the company. Two research 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.com, First Republic Bank has a consensus rating of “Hold” and a consensus target price of $207.08.
First Republic Bank Company Profile
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: Net Income
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