First Republic Bank (NYSE:FRC) - Equities research analysts at Jefferies Group upped their FY2017 earnings per share (EPS) estimates for First Republic Bank in a research report issued to clients and investors on Monday. Jefferies Group analyst C. Haire now forecasts that the bank will post earnings per share of $4.41 for the year, up from their previous estimate of $4.40. Jefferies Group has a “Buy” rating and a $109.00 price objective on the stock.
Several other equities analysts have also commented on FRC. Barclays PLC lowered their target price on First Republic Bank from $102.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 11th. Piper Jaffray Companies lowered their target price on First Republic Bank from $97.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, April 17th. Deutsche Bank AG upped their target price on First Republic Bank from $98.00 to $101.00 and gave the company a “hold” rating in a report on Tuesday, April 18th. BMO Capital Markets reaffirmed a “hold” rating and set a $97.00 target price on shares of First Republic Bank in a report on Friday, May 26th. Finally, Keefe, Bruyette & Woods set a $90.00 target price on First Republic Bank and gave the company a “hold” rating in a report on Friday, May 26th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. First Republic Bank presently has a consensus rating of “Hold” and a consensus target price of $104.54.
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Shares of First Republic Bank (NYSE:FRC) opened at 99.82 on Thursday. The firm has a market capitalization of $15.74 billion, a PE ratio of 24.35 and a beta of 0.99. First Republic Bank has a 52-week low of $70.21 and a 52-week high of $104.17. The firm’s 50-day moving average price is $99.96 and its 200-day moving average price is $95.02.
First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Friday, July 14th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by $0.03. First Republic Bank had a return on equity of 12.16% and a net margin of 27.37%. The firm had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $671.27 million. During the same quarter in the prior year, the business earned $0.97 EPS. The company’s quarterly revenue was up 19.8% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Thursday, July 27th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, July 25th. First Republic Bank’s dividend payout ratio (DPR) is 16.59%.
A number of institutional investors have recently modified their holdings of FRC. Comerica Bank raised its position in shares of First Republic Bank by 4.4% in the fourth quarter. Comerica Bank now owns 11,597 shares of the bank’s stock worth $1,078,000 after buying an additional 484 shares during the period. Franklin Resources Inc. raised its position in shares of First Republic Bank by 33.1% in the fourth quarter. Franklin Resources Inc. now owns 18,063 shares of the bank’s stock worth $1,664,000 after buying an additional 4,494 shares during the period. AQR Capital Management LLC raised its position in shares of First Republic Bank by 1.9% in the fourth quarter. AQR Capital Management LLC now owns 48,450 shares of the bank’s stock worth $4,464,000 after buying an additional 915 shares during the period. USA Financial Portformulas Corp acquired a new position in shares of First Republic Bank during the fourth quarter worth about $431,000. Finally, Searle & CO. acquired a new position in shares of First Republic Bank during the fourth quarter worth about $240,000. 98.66% of the stock is owned by institutional investors and hedge funds.
About First Republic Bank
First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.
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