First Republic Bank (NYSE:FRC) Posts Earnings Results

First Republic Bank (NYSE:FRC) posted its quarterly earnings data on Tuesday. The bank reported $1.91 earnings per share (EPS) for the quarter, topping the 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 firm posted $1.61 EPS.

FRC traded up $5.26 during trading on Thursday, hitting $210.11. 7,902 shares of the company’s stock were exchanged, compared to its average volume of 769,505. The firm has a market cap of $36.18 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. The stock has a 50 day moving average price of $198.83 and a 200 day moving average price of $190.43. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. First Republic Bank has a 1 year low of $120.03 and a 1 year high of $207.66.

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

FRC has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their target price on First Republic Bank from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, July 13th. Credit Suisse Group lifted their price objective on First Republic Bank from $163.00 to $180.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 14th. Barclays lifted their price objective on First Republic Bank from $205.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday. Royal Bank of Canada increased their price target on shares of First Republic Bank from $208.00 to $212.00 and gave the company a “sector perform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of First Republic Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $194.54.

First Republic Bank Company Profile

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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