Q1 2018 Earnings Estimate for First Republic Bank (FRC) Issued By Jefferies Group

First Republic Bank (NYSE:FRC) – Stock analysts at Jefferies Group reduced their Q1 2018 EPS estimates for shares of First Republic Bank in a research note issued on Friday. Jefferies Group analyst C. Haire now expects that the bank will earn $1.06 per share for the quarter, down from their previous forecast of $1.08. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for First Republic Bank’s Q2 2018 earnings at $1.14 EPS, Q3 2018 earnings at $1.20 EPS, Q4 2018 earnings at $1.25 EPS, FY2018 earnings at $4.65 EPS and FY2019 earnings at $5.15 EPS.

First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, October 13th. The bank reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The business had revenue of $670.30 million during the quarter, compared to analysts’ expectations of $678.25 million. During the same period in the previous year, the company posted $1.00 earnings per share. First Republic Bank’s quarterly revenue was up 20.1% on a year-over-year basis.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley reaffirmed an “equal weight” rating and issued a $106.00 target price on shares of First Republic Bank in a report on Thursday. Zacks Investment Research raised shares of First Republic Bank from a “sell” rating to a “hold” rating in a report on Friday, December 8th. Barclays set a $102.00 target price on shares of First Republic Bank and gave the company a “hold” rating in a report on Monday, October 16th. Raymond James Financial reduced their target price on shares of First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, October 16th. Finally, Wells Fargo & Company reduced their target price on shares of First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Monday, October 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $103.07.

Shares of First Republic Bank (NYSE FRC) opened at $87.57 on Monday. First Republic Bank has a 1-year low of $86.73 and a 1-year high of $105.52. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55. The company has a market cap of $13,814.78, a PE ratio of 20.65, a PEG ratio of 1.62 and a beta of 0.96.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in First Republic Bank by 21.4% during the second quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock worth $132,000 after purchasing an additional 232 shares in the last quarter. Zions Bancorporation purchased a new position in First Republic Bank during the third quarter worth about $160,000. Peddock Capital Advisors LLC acquired a new position in First Republic Bank during the second quarter worth about $180,000. Bronfman E.L. Rothschild L.P. grew its position in First Republic Bank by 0.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after buying an additional 5 shares during the period. Finally, Mawer Investment Management Ltd. acquired a new position in First Republic Bank during the third quarter worth about $209,000. 99.14% of the stock is owned by hedge funds and other institutional investors.

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First Republic Bank Company Profile

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.

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

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