First Republic Bank (NYSE:FRC) to Issue $0.19 Quarterly Dividend

First Republic Bank (NYSE:FRC) declared a quarterly dividend on Tuesday, July 16th, RTT News reports. Stockholders of record on Thursday, July 25th will be paid a dividend of 0.19 per share by the bank on Thursday, August 8th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Wednesday, July 24th.

First Republic Bank has raised its dividend payment by an average of 6.4% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. First Republic Bank has a payout ratio of 15.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Republic Bank to earn $5.49 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 13.8%.

Shares of NYSE FRC opened at $97.04 on Monday. The firm has a market capitalization of $16.24 billion, a PE ratio of 20.17, a P/E/G ratio of 2.01 and a beta of 0.90. The firm’s 50-day simple moving average is $97.68. First Republic Bank has a 1 year low of $79.42 and a 1 year high of $107.75. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.01 and a quick ratio of 1.01.

First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Tuesday, July 16th. The bank reported $1.24 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.02). First Republic Bank had a net margin of 22.94% and a return on equity of 11.30%. The firm had revenue of $819.38 million for the quarter, compared to the consensus estimate of $836.26 million. During the same period in the previous year, the business earned $1.20 earnings per share. On average, research analysts forecast that First Republic Bank will post 5.02 EPS for the current year.

Several analysts have commented on the stock. Wells Fargo & Co set a $68.00 price objective on shares of Emergent Biosolutions and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Credit Suisse Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of Bayerische Motoren Werke in a research note on Thursday. Raymond James cut shares of First Midwest Bancorp to a “hold” rating in a research note on Monday, July 8th. Wedbush reaffirmed an “outperform” rating on shares of WNS in a research note on Tuesday, July 16th. Finally, Zacks Investment Research raised shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, July 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $103.08.

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 offers deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

Further Reading: Capital gains and your 401(k) or IRA

Dividend History for First Republic Bank (NYSE:FRC)

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