First Republic Bank (NYSE:FRC) Releases Quarterly Earnings Results, Beats Estimates By $0.25 EPS

First Republic Bank (NYSE:FRC) posted its earnings results on Tuesday. The bank reported $1.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.25, MarketWatch Earnings reports. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. First Republic Bank had a return on equity of 10.96% and a net margin of 22.95%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 EPS.

Shares of First Republic Bank stock traded down $2.28 on Thursday, reaching $170.83. 1,278 shares of the company were exchanged, compared to its average volume of 983,002. First Republic Bank has a one year low of $92.13 and a one year high of $180.35. The company has a market capitalization of $29.41 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 3.26 and a beta of 1.06. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.58. The company has a 50-day moving average of $169.33 and a 200 day moving average of $146.38.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 13th. Stockholders of record on Thursday, April 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, April 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.52%. This is a boost from First Republic Bank’s previous quarterly dividend of $0.20. First Republic Bank’s dividend payout ratio is currently 13.77%.

FRC has been the subject of several analyst reports. Jefferies Financial Group restated an “underperform” rating and set a $163.00 target price on shares of First Republic Bank in a research report on Thursday. Barclays boosted their target price on First Republic Bank from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 7th. Morgan Stanley boosted their target price on First Republic Bank from $166.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 24th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on First Republic Bank from $163.00 to $174.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Maxim Group boosted their price objective on First Republic Bank from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $143.44.

First Republic Bank Company Profile

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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Earnings History for First Republic Bank (NYSE:FRC)

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