Analysts Offer Predictions for First Republic Bank’s Q1 2018 Earnings (FRC)
First Republic Bank (NYSE:FRC) – Stock analysts at Jefferies Group issued their Q1 2018 EPS estimates for shares of First Republic Bank in a research report issued to clients and investors on Tuesday. Jefferies Group analyst C. Haire expects that the bank will post earnings per share of $1.09 for the quarter. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for First Republic Bank’s Q2 2018 earnings at $1.14 EPS, Q3 2018 earnings at $1.24 EPS and Q4 2018 earnings at $1.29 EPS.
First Republic Bank (NYSE:FRC) last released its earnings results on Friday, October 13th. The bank reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The business had revenue of $670.30 million during the quarter, compared to analyst estimates of $678.25 million. During the same period last year, the business posted $1.00 EPS. First Republic Bank’s revenue was up 20.1% compared to the same quarter last year.
Several other research analysts also recently issued reports on the company. Maxim Group reaffirmed a “buy” rating and set a $110.00 price target on shares of First Republic Bank in a research note on Thursday, January 4th. Barclays lifted their price target on First Republic Bank from $98.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $106.00 price target on shares of First Republic Bank in a research note on Thursday, December 14th. Zacks Investment Research raised First Republic Bank from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. Finally, Raymond James Financial cut their price target on First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, October 16th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $103.00.
First Republic Bank (NYSE FRC) traded up $2.32 during trading on Friday, reaching $92.31. The company’s stock had a trading volume of 1,660,700 shares, compared to its average volume of 1,737,213. First Republic Bank has a 12 month low of $84.56 and a 12 month high of $105.52. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $14,150.00, a P/E ratio of 21.77, a P/E/G ratio of 1.43 and a beta of 0.96.
A number of institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. increased its position in First Republic Bank by 3.2% during the 2nd quarter. D.A. Davidson & CO. now owns 2,612 shares of the bank’s stock worth $261,000 after purchasing an additional 81 shares in the last quarter. Toronto Dominion Bank increased its position in First Republic Bank by 8.9% during the 2nd quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock worth $212,000 after purchasing an additional 173 shares in the last quarter. Comerica Bank increased its position in First Republic Bank by 2.0% during the 2nd quarter. Comerica Bank now owns 10,832 shares of the bank’s stock worth $1,087,000 after purchasing an additional 217 shares in the last quarter. Colony Group LLC increased its position in First Republic Bank by 0.9% during the 2nd quarter. Colony Group LLC now owns 25,889 shares of the bank’s stock worth $2,591,000 after purchasing an additional 219 shares in the last quarter. Finally, Riverhead Capital Management LLC increased its position in First Republic Bank by 1.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 15,750 shares of the bank’s stock worth $1,577,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.
About First Republic Bank
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.
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