First Republic Bank (NYSE:FRC) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

First Republic Bank (NYSE:FRC) issued its earnings results on Tuesday. The bank reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.07, MarketWatch Earnings reports. First Republic Bank had a return on equity of 12.40% and a net margin of 26.82%. During the same quarter in the prior year, the business earned $1.61 earnings per share.

First Republic Bank stock traded up $3.81 during mid-day trading on Thursday, reaching $208.66. 14,987 shares of the stock traded hands, compared to its average volume of 769,505. The stock has a market capitalization of $35.93 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97. First Republic Bank has a 12-month low of $120.03 and a 12-month high of $207.66. The business’s 50-day moving average is $198.83 and its 200-day moving average is $190.43.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 12th. Investors of record on Thursday, October 28th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Wednesday, October 27th. First Republic Bank’s dividend payout ratio (DPR) is presently 15.15%.

Several research analysts have recently issued reports on FRC shares. Barclays upped their price objective on First Republic Bank from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday. Credit Suisse Group increased their price target on First Republic Bank from $163.00 to $180.00 and gave the stock an “underperform” rating in a report on Wednesday, July 14th. JPMorgan Chase & Co. increased their target price on First Republic Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday. Morgan Stanley increased their target price on First Republic Bank from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, August 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on First Republic Bank from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, July 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, First Republic Bank has a consensus rating of “Hold” and an average target price of $194.54.

About First Republic Bank

First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.

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Earnings History for First Republic Bank (NYSE:FRC)

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