First Republic Bank (NYSE:FRC) Announces Earnings Results, Beats Estimates By $0.08 EPS

First Republic Bank (NYSE:FRC) announced its quarterly earnings results on Wednesday. The bank reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.08, MarketWatch Earnings reports. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.04 billion. First Republic Bank had a return on equity of 10.96% and a net margin of 22.95%. The business’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.39 earnings per share.

FRC stock traded down $5.22 during mid-day trading on Friday, hitting $152.82. The stock had a trading volume of 23,735 shares, compared to its average volume of 1,254,964. The firm has a fifty day simple moving average of $140.61 and a 200 day simple moving average of $122.83. The firm has a market capitalization of $26.31 billion, a P/E ratio of 27.53, a P/E/G ratio of 3.27 and a beta of 1.06. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.58. First Republic Bank has a 52 week low of $70.06 and a 52 week high of $166.82.

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 11th. Shareholders of record on Thursday, January 28th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. First Republic Bank’s payout ratio is 15.38%.

Several analysts have issued reports on the company. Wells Fargo & Company upped their price objective on First Republic Bank from $85.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, October 14th. They noted that the move was a valuation call. Zacks Investment Research lowered First Republic Bank from a “buy” rating to a “hold” rating and set a $136.00 price objective on the stock. in a research note on Tuesday, December 1st. Maxim Group upped their price objective on First Republic Bank to $200.00 and gave the company a “buy” rating in a research note on Friday. Compass Point restated a “top pick” rating on shares of First Republic Bank in a research note on Thursday, December 31st. Finally, Citigroup increased their target price on First Republic Bank from $114.00 to $123.00 and gave the stock a “neutral” rating in a research note on Thursday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $132.94.

About First Republic Bank

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 accepts 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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