First Republic Bank (NYSE:FRC) announced its earnings results on Wednesday. The bank reported $1.60 EPS for the quarter, topping the consensus estimate of $1.52 by $0.08, MarketWatch Earnings reports. First Republic Bank had a net margin of 22.95% and a return on equity of 10.96%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company posted $1.39 EPS. The business’s quarterly revenue was up 25.4% on a year-over-year basis.
Shares of FRC stock traded down $5.49 on Friday, reaching $152.55. The stock had a trading volume of 20,084 shares, compared to its average volume of 1,254,964. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.58. The firm’s 50-day moving average is $140.61 and its two-hundred day moving average is $122.83. The firm has a market capitalization of $26.27 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 3.27 and a beta of 1.06. First Republic Bank has a 12 month low of $70.06 and a 12 month high of $166.82.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 11th. Stockholders of record on Thursday, January 28th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. First Republic Bank’s payout ratio is 15.38%.
Several research firms recently commented on FRC. Compass Point reaffirmed a “top pick” rating on shares of First Republic Bank in a research report on Thursday, December 31st. Keefe, Bruyette & Woods boosted their price objective on shares of First Republic Bank from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, November 18th. Zacks Investment Research cut shares of First Republic Bank from a “buy” rating to a “hold” rating and set a $136.00 price objective on the stock. in a research report on Tuesday, December 1st. Morgan Stanley boosted their price objective on shares of First Republic Bank from $142.00 to $147.00 and gave the company an “equal weight” rating in a research report on Thursday, January 7th. Finally, Barclays boosted their price objective on shares of First Republic Bank from $130.00 to $156.00 and gave the company an “equal weight” rating in a research report on Monday, January 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $132.94.
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 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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