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

Equities research analysts expect First Republic Bank (NYSE:FRCGet Rating) to report $2.07 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for First Republic Bank’s earnings. The highest EPS estimate is $2.09 and the lowest is $2.04. First Republic Bank posted earnings of $1.95 per share during the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The firm is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that First Republic Bank will report full year earnings of $8.45 per share for the current year, with EPS estimates ranging from $8.12 to $8.65. For the next financial year, analysts anticipate that the business will report earnings of $9.72 per share, with EPS estimates ranging from $9.24 to $10.23. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for First Republic Bank.

First Republic Bank (NYSE:FRCGet Rating) last released 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 the consensus estimate of $1.40 billion. First Republic Bank had a net margin of 27.93% and a return on equity of 12.91%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.79 earnings per share.

FRC has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of First Republic Bank in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler decreased their target price on shares of First Republic Bank from $205.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, March 7th. Royal Bank of Canada raised their target price on shares of First Republic Bank from $184.00 to $187.00 and gave the company a “sector perform” rating in a research report on Thursday, April 14th. Morgan Stanley increased their price target on shares of First Republic Bank from $173.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, April 14th. Finally, Wells Fargo & Company cut their price target on shares of First Republic Bank from $180.00 to $165.00 and set an “underweight” rating for the company in a research note on Thursday, April 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $200.14.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ninety One UK Ltd acquired a new stake in shares of First Republic Bank during the 1st quarter worth about $8,164,000. Fortitude Advisory Group L.L.C. raised its stake in First Republic Bank by 17.2% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 1,437 shares of the bank’s stock worth $233,000 after purchasing an additional 211 shares in the last quarter. Phocas Financial Corp. raised its stake in First Republic Bank by 7.4% in the 1st quarter. Phocas Financial Corp. now owns 9,394 shares of the bank’s stock worth $1,523,000 after purchasing an additional 645 shares in the last quarter. Advisory Services Network LLC raised its stake in First Republic Bank by 69.4% in the 1st quarter. Advisory Services Network LLC now owns 5,210 shares of the bank’s stock worth $846,000 after purchasing an additional 2,134 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its stake in First Republic Bank by 316.9% in the 1st quarter. Neuberger Berman Group LLC now owns 242,453 shares of the bank’s stock worth $39,305,000 after purchasing an additional 184,290 shares in the last quarter. Institutional investors own 94.41% of the company’s stock.

First Republic Bank stock opened at $157.41 on Friday. The company has a market cap of $28.28 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11. First Republic Bank has a 1-year low of $136.31 and a 1-year high of $222.86. The company has a fifty day simple moving average of $155.06 and a 200 day simple moving average of $177.62. The company has a current ratio of 0.92, a quick ratio of 0.94 and a debt-to-equity ratio of 0.44.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Thursday, April 28th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Wednesday, April 27th. This is a boost from First Republic Bank’s previous quarterly dividend of $0.22. First Republic Bank’s dividend payout ratio (DPR) is currently 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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