First Republic Bank (NYSE:FRC) – Jefferies Group boosted their FY2018 earnings per share estimates for First Republic Bank in a research note issued on Monday. Jefferies Group analyst C. Haire now expects that the firm will post earnings of $5.00 per share for the year, up from their prior forecast of $4.90. Jefferies Group currently has a “Buy” rating and a $85.00 price target on the stock.

A number of other brokerages have also recently commented on FRC. Wells Fargo & Company cut shares of First Republic Bank from an “outperform” rating to a “market perform” rating in a research note on Monday. Zacks Investment Research raised shares of First Republic Bank from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday. FBR & Co raised shares of First Republic Bank from a “market perform” rating to an “outperform” rating and raised their price target for the company from $85.00 to $100.00 in a report on Tuesday, December 20th. Maxim Group raised their price target on shares of First Republic Bank from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, December 19th. Finally, Morgan Stanley lowered shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $77.00 to $85.00 in a report on Wednesday, November 16th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. First Republic Bank currently has an average rating of “Buy” and a consensus price target of $84.55.

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

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First Republic Bank (NYSE:FRC) traded up 1.20% during midday trading on Wednesday, reaching $92.95. The company’s stock had a trading volume of 1,356,730 shares. The firm has a 50-day moving average price of $89.02 and a 200 day moving average price of $78.13. First Republic Bank has a 52-week low of $56.32 and a 52-week high of $94.15. The stock has a market capitalization of $13.95 billion, a price-to-earnings ratio of 24.84 and a beta of 0.98.

First Republic Bank (NYSE:FRC) last released its earnings results on Friday, January 13th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.02. The firm earned $599.50 million during the quarter, compared to the consensus estimate of $620.92 million. First Republic Bank had a return on equity of 12.19% and a net margin of 27.68%. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 9th. Investors of record on Thursday, January 26th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.69%. First Republic Bank’s payout ratio is 17.34%.

ILLEGAL ACTIVITY NOTICE: “Research Analysts Set Expectations for First Republic Bank’s FY2018 Earnings (FRC)” was posted by Watch List News and is the propert of of Watch List News. If you are reading this story on another site, it was illegally copied and republished in violation of United States and international copyright & trademark laws. The original version of this story can be read at http://www.watchlistnews.com/research-analysts-set-expectations-for-first-republic-banks-fy2018-earnings-frc/1060580.html.

Institutional investors have recently modified their holdings of the stock. NN Investment Partners Holdings N.V. boosted its position in shares of First Republic Bank by 581.4% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 5,424 shares of the company’s stock valued at $500,000 after buying an additional 4,628 shares during the period. ETRADE Capital Management LLC boosted its stake in First Republic Bank by 7.3% in the third quarter. ETRADE Capital Management LLC now owns 11,526 shares of the company’s stock valued at $888,000 after buying an additional 789 shares during the period. D.A. Davidson & CO. boosted its stake in First Republic Bank by 1.9% in the third quarter. D.A. Davidson & CO. now owns 84,074 shares of the company’s stock valued at $6,480,000 after buying an additional 1,596 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in First Republic Bank by 90.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 190,353 shares of the company’s stock valued at $14,678,000 after buying an additional 90,520 shares during the period. Finally, Grandeur Peak Global Advisors LLC boosted its stake in First Republic Bank by 1.2% in the third quarter. Grandeur Peak Global Advisors LLC now owns 369,125 shares of the company’s stock valued at $28,463,000 after buying an additional 4,550 shares during the period. 96.27% of the stock is owned by institutional investors and hedge funds.

First Republic Bank Company Profile

First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.

5 Day Chart for NYSE:FRC

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