First Republic Bank (NYSE:FRC) declared a quarterly dividend on Wednesday, October 13th, RTT News reports. Shareholders of record on Thursday, October 28th will be given a dividend of 0.22 per share by the bank on Friday, November 12th. This represents a $0.88 annualized dividend and a yield of 0.43%.
First Republic Bank has increased its dividend by 17.9% over the last three years and has increased its dividend every year for the last 1 years. First Republic Bank has a payout ratio of 11.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Republic Bank to earn $7.88 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 10.7%.
First Republic Bank stock opened at $204.85 on Thursday. First Republic Bank has a 12-month low of $120.03 and a 12-month high of $207.66. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $35.27 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. The firm has a 50 day simple moving average of $198.83 and a 200-day simple moving average of $190.43.
A number of brokerages have recently commented on FRC. Credit Suisse Group increased their price objective on First Republic Bank from $163.00 to $180.00 and gave the company an “underperform” rating in a research report on Wednesday, July 14th. Keefe, Bruyette & Woods increased their price target on First Republic Bank from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, July 13th. Morgan Stanley boosted their price objective on First Republic Bank from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, August 2nd. Maxim Group raised their target price on shares of First Republic Bank from $210.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, July 14th. Finally, Barclays boosted their price target on shares of First Republic Bank from $205.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $187.08.
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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