First Republic Bank (NYSE:FRC) Posts Earnings Results, Beats Estimates By $0.07 EPS

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

Shares of FRC stock traded up $5.30 during trading hours on Thursday, hitting $210.15. 7,024 shares of the company were exchanged, compared to its average volume of 769,505. The firm has a fifty day simple moving average of $198.83 and a 200 day simple moving average 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 52-week low of $120.03 and a 52-week high of $207.66. The stock has a market capitalization of $36.19 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 1.58 and a beta of 1.12.

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

Several equities analysts recently weighed in on the stock. Royal Bank of Canada raised 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 report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of First Republic Bank from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, July 13th. Barclays raised their price target on shares of First Republic Bank from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday. Maxim Group raised their price target on shares of First Republic Bank from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 14th. Finally, Morgan Stanley lifted their target price on shares of First Republic Bank from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. Three equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.

Recommended Story: What is the Quick Ratio?

Earnings History for First Republic Bank (NYSE:FRC)

Receive News & Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related companies with MarketBeat.com's FREE daily email newsletter.