First Republic Bank (NYSE:FRC) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

First Republic Bank (NYSE:FRC) released its quarterly earnings data on Tuesday. The bank reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.07, MarketWatch Earnings reports. First Republic Bank had a net margin of 26.82% and a return on equity of 12.40%. During the same quarter in the previous year, the company earned $1.61 earnings per share.

Shares of First Republic Bank stock traded up $5.14 during trading on Thursday, reaching $209.99. The company’s stock had a trading volume of 4,936 shares, compared to its average volume of 769,505. The company has a 50-day moving average price of $198.83 and a two-hundred day moving average price of $190.43. The firm has a market cap of $36.16 billion, a PE ratio of 29.47, a P/E/G ratio of 1.58 and a beta of 1.12. First Republic Bank has a fifty-two week low of $120.03 and a fifty-two week high of $207.66. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Thursday, October 28th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, October 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.42%. First Republic Bank’s payout ratio is 15.15%.

A number of equities research analysts have weighed in on FRC shares. Keefe, Bruyette & Woods lifted their price target on shares of First Republic Bank from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, July 13th. JPMorgan Chase & Co. lifted their price objective on shares of First Republic Bank from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday. Credit Suisse Group lifted their price objective on shares of First Republic Bank from $163.00 to $180.00 and gave the company an “underperform” rating in a report on Wednesday, July 14th. Morgan Stanley lifted their price objective on shares of First Republic Bank from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, August 2nd. Finally, Maxim Group lifted their price objective on shares of First Republic Bank from $210.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, July 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $194.54.

First Republic Bank Company Profile

First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.

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Earnings History for First Republic Bank (NYSE:FRC)

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