First Republic Bank Expected to Post FY2019 Earnings of $5.08 Per Share (NYSE:FRC)

First Republic Bank (NYSE:FRC) – Investment analysts at Piper Jaffray Companies upped their FY2019 earnings per share (EPS) estimates for shares of First Republic Bank in a report issued on Tuesday, October 15th. Piper Jaffray Companies analyst M. Clark now expects that the bank will post earnings of $5.08 per share for the year, up from their prior estimate of $4.97. Piper Jaffray Companies also issued estimates for First Republic Bank’s Q4 2019 earnings at $1.26 EPS, Q2 2021 earnings at $1.53 EPS and Q3 2021 earnings at $1.65 EPS.

Several other equities research analysts also recently weighed in on the company. Credit Suisse Group decreased their price objective on First Republic Bank from $105.00 to $98.00 and set a “neutral” rating for the company in a report on Thursday, July 18th. BMO Capital Markets increased their price objective on First Republic Bank from $97.00 to $103.00 and gave the company a “market perform” rating in a report on Wednesday. They noted that the move was a valuation call. Raymond James downgraded First Republic Bank to a “hold” rating in a report on Monday, July 8th. UBS Group increased their price objective on First Republic Bank from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Wells Fargo & Co downgraded First Republic Bank from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $112.00 to $100.00 in a report on Wednesday, October 2nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. First Republic Bank presently has an average rating of “Hold” and a consensus target price of $104.69.

FRC stock opened at $104.18 on Friday. The company has a market capitalization of $17.40 billion, a P/E ratio of 21.66, a PEG ratio of 3.52 and a beta of 0.89. First Republic Bank has a twelve month low of $79.42 and a twelve month high of $107.75. The business has a 50 day simple moving average of $94.56 and a 200-day simple moving average of $97.76. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 1.43.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Tuesday, October 15th. The bank reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.10. The business had revenue of $837.19 million during the quarter, compared to the consensus estimate of $830.60 million. First Republic Bank had a return on equity of 11.23% and a net margin of 22.69%. During the same period in the prior year, the company earned $1.19 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Wednesday, October 30th. First Republic Bank’s dividend payout ratio is presently 15.80%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Patten Group Inc. lifted its holdings in shares of First Republic Bank by 1.3% during the second quarter. Patten Group Inc. now owns 37,966 shares of the bank’s stock worth $3,707,000 after purchasing an additional 470 shares during the period. Insight Wealth Strategies LLC purchased a new position in First Republic Bank in the second quarter worth $409,000. Parallel Advisors LLC raised its position in First Republic Bank by 47.1% in the second quarter. Parallel Advisors LLC now owns 1,562 shares of the bank’s stock worth $153,000 after acquiring an additional 500 shares in the last quarter. Sumitomo Life Insurance Co. raised its position in First Republic Bank by 3.7% in the second quarter. Sumitomo Life Insurance Co. now owns 16,375 shares of the bank’s stock worth $1,599,000 after acquiring an additional 585 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in First Republic Bank in the second quarter worth $610,000.

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

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