Equities analysts forecast that First Republic Bank (NYSE:FRC) will post earnings per share of $1.22 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for First Republic Bank’s earnings, with the highest EPS estimate coming in at $1.27 and the lowest estimate coming in at $1.15. First Republic Bank posted earnings of $1.13 per share in the same quarter last year, which indicates a positive year over year growth rate of 8%. The firm is scheduled to issue its next quarterly earnings results on Friday, April 12th.
According to Zacks, analysts expect that First Republic Bank will report full-year earnings of $5.34 per share for the current fiscal year, with EPS estimates ranging from $5.28 to $5.40. For the next year, analysts forecast that the business will report earnings of $6.02 per share, with EPS estimates ranging from $5.90 to $6.15. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for First Republic Bank.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings data on Tuesday, January 15th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The company had revenue of $810.75 million during the quarter, compared to the consensus estimate of $812.10 million. First Republic Bank had a net margin of 23.88% and a return on equity of 11.62%. First Republic Bank’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 earnings per share.
A number of equities analysts recently commented on FRC shares. BMO Capital Markets boosted their price objective on shares of First Republic Bank from $95.00 to $111.00 and gave the stock a “market perform” rating in a research note on Friday. Maxim Group reissued a “buy” rating and issued a $110.00 price objective on shares of First Republic Bank in a research note on Tuesday, January 15th. Zacks Investment Research downgraded shares of First Republic Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Robert W. Baird started coverage on shares of First Republic Bank in a research note on Thursday, December 20th. They issued a “neutral” rating and a $92.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on shares of First Republic Bank from $95.00 to $94.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 8th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $102.57.
NYSE:FRC traded up $0.64 during trading hours on Friday, reaching $103.56. The company’s stock had a trading volume of 1,444,319 shares, compared to its average volume of 1,532,052. The company has a market capitalization of $16.34 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.55 and a beta of 0.93. First Republic Bank has a 12 month low of $79.42 and a 12 month high of $106.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.34.
Institutional investors and hedge funds have recently made changes to their positions in the company. Highwater Wealth Management LLC purchased a new stake in shares of First Republic Bank during the fourth quarter valued at $135,000. CIBC World Markets Inc. grew its holdings in shares of First Republic Bank by 20.6% during the third quarter. CIBC World Markets Inc. now owns 51,097 shares of the bank’s stock valued at $4,905,000 after buying an additional 8,728 shares during the last quarter. WINTON GROUP Ltd grew its holdings in shares of First Republic Bank by 66.4% during the third quarter. WINTON GROUP Ltd now owns 4,306 shares of the bank’s stock valued at $413,000 after buying an additional 1,718 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of First Republic Bank by 61.6% during the third quarter. Bessemer Group Inc. now owns 12,490 shares of the bank’s stock valued at $1,199,000 after buying an additional 4,759 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of First Republic Bank by 6.5% during the third quarter. BlackRock Inc. now owns 12,082,935 shares of the bank’s stock valued at $1,159,962,000 after buying an additional 733,112 shares during the last quarter.
First Republic Bank Company Profile
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.
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