Zacks: Analysts Expect First Republic Bank (FRC) to Post $1.05 EPS

Equities research analysts expect First Republic Bank (NYSE:FRC) to report earnings per share (EPS) of $1.05 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for First Republic Bank’s earnings, with estimates ranging from $1.01 to $1.08. First Republic Bank reported earnings per share of $1.01 during the same quarter last year, which indicates a positive year over year growth rate of 4%. The company is expected to issue its next earnings report on Thursday, April 12th.

On average, analysts expect that First Republic Bank will report full year earnings of $4.76 per share for the current fiscal year, with EPS estimates ranging from $4.65 to $4.99. For the next financial year, analysts forecast that the firm will report earnings of $5.53 per share, with EPS estimates ranging from $5.05 to $5.82. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for First Republic Bank.

First Republic Bank (NYSE:FRC) last posted its earnings results on Tuesday, January 16th. The bank reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.05). The company had revenue of $699.20 million during the quarter, compared to the consensus estimate of $688.48 million. First Republic Bank had a return on equity of 11.80% and a net margin of 26.02%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the company posted $1.03 EPS.

FRC has been the subject of a number of research reports. Jefferies Group cut shares of First Republic Bank from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Zacks Investment Research raised shares of First Republic Bank from a “sell” rating to a “hold” rating in a report on Friday, December 8th. Morgan Stanley reissued an “equal weight” rating and issued a $106.00 target price on shares of First Republic Bank in a report on Thursday, December 14th. Barclays increased their target price on shares of First Republic Bank from $98.00 to $101.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, Raymond James Financial dropped their target price on shares of First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $101.54.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank raised its holdings in First Republic Bank by 8.9% in the 2nd quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock valued at $212,000 after buying an additional 173 shares during the last quarter. Colony Group LLC raised its holdings in First Republic Bank by 0.9% during the 2nd quarter. Colony Group LLC now owns 25,889 shares of the bank’s stock worth $2,591,000 after purchasing an additional 219 shares during the last quarter. National Asset Management Inc. raised its holdings in First Republic Bank by 10.4% during the 2nd quarter. National Asset Management Inc. now owns 5,001 shares of the bank’s stock worth $503,000 after purchasing an additional 472 shares during the last quarter. Whittier Trust Co. raised its holdings in First Republic Bank by 2.0% during the 3rd quarter. Whittier Trust Co. now owns 26,816 shares of the bank’s stock worth $2,801,000 after purchasing an additional 516 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in First Republic Bank by 3.8% during the 3rd quarter. Amalgamated Bank now owns 16,188 shares of the bank’s stock worth $1,691,000 after purchasing an additional 590 shares during the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.

First Republic Bank (FRC) opened at $85.78 on Tuesday. The company has a market cap of $14,240.68, a PE ratio of 19.90, a PEG ratio of 1.49 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.46. First Republic Bank has a fifty-two week low of $84.56 and a fifty-two week high of $105.52.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 25th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, January 24th. This represents a $0.68 dividend on an annualized basis and a yield of 0.79%. First Republic Bank’s dividend payout ratio (DPR) is presently 15.78%.

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First Republic Bank Company Profile

First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.

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Earnings History and Estimates for First Republic Bank (NYSE:FRC)

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