First Republic Bank (NYSE:FRC) Expected to Post Earnings of $2.07 Per Share

Wall Street brokerages expect First Republic Bank (NYSE:FRCGet Rating) to report $2.07 earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for First Republic Bank’s earnings, with estimates ranging from $2.04 to $2.09. First Republic Bank reported earnings per share of $1.95 during the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that First Republic Bank will report full year earnings of $8.40 per share for the current financial year, with EPS estimates ranging from $8.12 to $8.60. For the next year, analysts anticipate that the business will report earnings of $9.66 per share, with EPS estimates ranging from $9.24 to $10.23. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow First Republic Bank.

First Republic Bank (NYSE:FRCGet Rating) last announced its earnings results on Wednesday, April 13th. The bank reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.10. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.40 billion. First Republic Bank had a net margin of 27.93% and a return on equity of 12.91%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.79 EPS.

FRC has been the subject of several recent analyst reports. UBS Group raised shares of First Republic Bank from a “neutral” rating to a “buy” rating and upped their target price for the stock from $188.00 to $194.00 in a report on Friday, April 8th. Maxim Group reissued a “buy” rating and set a $250.00 price objective on shares of First Republic Bank in a report on Friday, January 14th. Piper Sandler dropped their price objective on shares of First Republic Bank from $205.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, March 7th. Wells Fargo & Company dropped their price objective on shares of First Republic Bank from $180.00 to $165.00 and set an “underweight” rating for the company in a report on Thursday, April 14th. Finally, Evercore ISI raised shares of First Republic Bank from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $215.00 to $220.00 in a report on Tuesday, January 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, First Republic Bank presently has a consensus rating of “Hold” and a consensus target price of $204.29.

Large investors have recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of First Republic Bank by 0.7% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 8,065 shares of the bank’s stock valued at $1,666,000 after purchasing an additional 57 shares in the last quarter. Evoke Wealth LLC increased its holdings in First Republic Bank by 39.0% in the third quarter. Evoke Wealth LLC now owns 214 shares of the bank’s stock valued at $41,000 after buying an additional 60 shares in the last quarter. CX Institutional increased its holdings in First Republic Bank by 18.3% in the third quarter. CX Institutional now owns 408 shares of the bank’s stock valued at $79,000 after buying an additional 63 shares in the last quarter. Ieq Capital LLC grew its position in shares of First Republic Bank by 0.5% in the fourth quarter. Ieq Capital LLC now owns 11,745 shares of the bank’s stock valued at $2,425,000 after purchasing an additional 64 shares during the period. Finally, Greenleaf Trust grew its position in shares of First Republic Bank by 5.6% in the third quarter. Greenleaf Trust now owns 1,255 shares of the bank’s stock valued at $242,000 after purchasing an additional 67 shares during the period. 94.41% of the stock is currently owned by institutional investors and hedge funds.

NYSE:FRC opened at $144.91 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.92 and a quick ratio of 0.94. The firm has a market capitalization of $26.03 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. First Republic Bank has a one year low of $142.51 and a one year high of $222.86. The business has a fifty day moving average price of $160.96 and a 200-day moving average price of $185.18.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 12th. Stockholders of record on Thursday, April 28th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, April 27th. This is a positive change from First Republic Bank’s previous quarterly dividend of $0.22. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.75%. First Republic Bank’s dividend payout ratio (DPR) is 13.71%.

About First Republic Bank (Get Rating)

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. It operates in two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as noninterest-bearing checking, interest-bearing checking, money market checking accounts, money market savings accounts, and passbook accounts, as well as certificates of deposit.

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Earnings History and Estimates for First Republic Bank (NYSE:FRC)

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