First Republic Bank (NYSE:FRC) – Stock analysts at Jefferies Financial Group issued their Q1 2019 EPS estimates for shares of First Republic Bank in a research report issued to clients and investors on Tuesday, October 9th. Jefferies Financial Group analyst C. Haire expects that the bank will post earnings per share of $1.26 for the quarter. Jefferies Financial Group has a “Hold” rating and a $96.00 price objective on the stock. Jefferies Financial Group also issued estimates for First Republic Bank’s Q2 2019 earnings at $1.30 EPS, Q3 2019 earnings at $1.40 EPS and Q4 2019 earnings at $1.44 EPS.
First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Friday, October 12th. The bank reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). First Republic Bank had a net margin of 24.80% and a return on equity of 11.73%. During the same quarter in the previous year, the business earned $1.14 EPS.
FRC has been the subject of a number of other reports. Piper Jaffray Companies restated a “hold” rating and set a $94.00 price target on shares of First Republic Bank in a research report on Tuesday. Wedbush restated an “outperform” rating on shares of First Republic Bank in a research report on Friday, July 13th. Royal Bank of Canada boosted their price target on shares of First Republic Bank to $102.00 and gave the company a “sector perform” rating in a research report on Thursday, September 13th. They noted that the move was a valuation call. Citigroup began coverage on shares of First Republic Bank in a research report on Monday, June 18th. They set a “buy” rating and a $120.00 price target for the company. Finally, Wells Fargo & Co boosted their price target on shares of First Republic Bank from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, June 26th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $102.54.
FRC opened at $93.12 on Thursday. The firm has a market cap of $15.14 billion, a PE ratio of 21.60, a PEG ratio of 1.64 and a beta of 0.84. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. First Republic Bank has a one year low of $84.56 and a one year high of $106.75.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Thursday, October 25th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.77%. First Republic Bank’s dividend payout ratio is currently 16.71%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Waddell & Reed Financial Inc. lifted its holdings in shares of First Republic Bank by 6.2% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 1,309,725 shares of the bank’s stock worth $126,768,000 after acquiring an additional 76,878 shares during the last quarter. Meadow Creek Investment Management LLC lifted its stake in First Republic Bank by 22.2% in the second quarter. Meadow Creek Investment Management LLC now owns 181,216 shares of the bank’s stock worth $17,540,000 after purchasing an additional 32,912 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in First Republic Bank by 3.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 16,706 shares of the bank’s stock worth $1,617,000 after purchasing an additional 514 shares during the last quarter. Whittier Trust Co. lifted its stake in First Republic Bank by 6.0% in the second quarter. Whittier Trust Co. now owns 29,046 shares of the bank’s stock worth $2,811,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Putnam Investments LLC lifted its stake in First Republic Bank by 12.1% in the second quarter. Putnam Investments LLC now owns 712,799 shares of the bank’s stock worth $68,992,000 after purchasing an additional 76,732 shares during the last quarter.
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 of 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, and passbook deposits, as well as certificates of deposit.
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