First Republic Bank (NYSE:FRC) Releases Quarterly Earnings Results, Beats Expectations By $0.23 EPS

First Republic Bank (NYSE:FRC) posted its quarterly earnings data on Tuesday. The bank reported $1.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.38 by $0.23, MarketWatch Earnings reports. First Republic Bank had a net margin of 22.03% and a return on equity of 10.68%. During the same quarter last year, the business earned $1.31 earnings per share.

FRC opened at $123.75 on Wednesday. The stock has a market capitalization of $21.30 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.59 and a beta of 1.16. First Republic Bank has a 12 month low of $70.06 and a 12 month high of $128.79. The firm’s fifty day simple moving average is $112.04 and its 200 day simple moving average is $106.61. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.82.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 12th. Investors of record on Thursday, October 29th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.65%. First Republic Bank’s dividend payout ratio is currently 15.38%.

A number of analysts recently weighed in on FRC shares. JPMorgan Chase & Co. raised their price target on shares of First Republic Bank from $125.00 to $139.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Wells Fargo & Company lifted their target price on shares of First Republic Bank from $68.00 to $85.00 and gave the stock an “underweight” rating in a report on Wednesday, July 15th. Wolfe Research started coverage on shares of First Republic Bank in a report on Friday, July 31st. They set an “outperform” rating for the company. BMO Capital Markets reaffirmed a “hold” rating and set a $103.00 target price on shares of First Republic Bank in a report on Friday, July 24th. Finally, Credit Suisse Group lifted their price target on shares of First Republic Bank from $93.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. First Republic Bank currently has an average rating of “Hold” and a consensus price target of $114.35.

First Republic Bank Company Profile

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.

See Also: P/E Growth (PEG)

Earnings History for First Republic Bank (NYSE:FRC)

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