First Republic Bank (NYSE:FRC) posted its quarterly earnings data on Tuesday. The bank reported $1.40 EPS for the quarter, beating the consensus estimate of $1.17 by $0.23, RTT News reports. First Republic Bank had a return on equity of 10.64% and a net margin of 21.46%. The business had revenue of $943.40 million for the quarter, compared to the consensus estimate of $937.90 million. During the same quarter in the prior year, the business earned $1.24 earnings per share. First Republic Bank’s revenue for the quarter was up 6.5% on a year-over-year basis.
NYSE:FRC opened at $106.83 on Tuesday. The company has a 50 day simple moving average of $108.01 and a two-hundred day simple moving average of $105.00. The company has a market cap of $18.08 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 4.00 and a beta of 1.18. First Republic Bank has a 12 month low of $70.06 and a 12 month high of $125.12. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, July 30th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.75%. First Republic Bank’s dividend payout ratio (DPR) is presently 15.38%.
Several research analysts have recently weighed in on FRC shares. UBS Group increased their price target on First Republic Bank from $79.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, May 15th. Atlantic Securities raised shares of First Republic Bank from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research report on Tuesday, May 5th. Wells Fargo & Co lifted their price objective on shares of First Republic Bank from $65.00 to $68.00 and gave the company an “underweight” rating in a research note on Wednesday, April 15th. Morgan Stanley increased their target price on First Republic Bank from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, June 8th. Finally, Keefe, Bruyette & Woods upgraded First Republic Bank from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Wednesday, April 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. First Republic Bank currently has a consensus rating of “Hold” and a consensus price target of $112.00.
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.
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