FY2017 EPS Estimates for First Republic Bank Boosted by FIG Partners (FRC)
First Republic Bank (NYSE:FRC) – Investment analysts at FIG Partners lifted their FY2017 earnings per share estimates for First Republic Bank in a research note issued on Thursday. FIG Partners analyst T. Coffey now expects that the bank will earn $4.43 per share for the year, up from their prior estimate of $4.42. FIG Partners also issued estimates for First Republic Bank’s Q4 2017 earnings at $1.22 EPS, Q3 2018 earnings at $1.30 EPS, Q4 2018 earnings at $1.34 EPS and FY2018 earnings at $5.17 EPS.
First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $670.30 million for the quarter, compared to the consensus estimate of $678.25 million. First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the business posted $1.00 EPS.
Several other brokerages also recently issued reports on FRC. Jefferies Group lifted their target price on First Republic Bank from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Barclays set a $102.00 target price on First Republic Bank and gave the stock a “hold” rating in a report on Monday, October 16th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $87.00 target price on shares of First Republic Bank in a report on Friday, October 13th. Piper Jaffray Companies set a $99.00 target price on First Republic Bank and gave the stock a “hold” rating in a report on Sunday, October 15th. Finally, Wells Fargo & Company dropped their price objective on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $102.93.
Shares of First Republic Bank (NYSE FRC) opened at $95.68 on Monday. The stock has a market capitalization of $15,094.19, a P/E ratio of 22.57, a P/E/G ratio of 1.78 and a beta of 0.96. First Republic Bank has a 12 month low of $82.64 and a 12 month high of $105.52. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.95.
A number of large investors have recently added to or reduced their stakes in FRC. Capstone Asset Management Co. lifted its holdings in First Republic Bank by 10.1% during the 2nd quarter. Capstone Asset Management Co. now owns 3,712 shares of the bank’s stock worth $372,000 after buying an additional 340 shares during the last quarter. Creative Planning increased its position in shares of First Republic Bank by 21.3% during the second quarter. Creative Planning now owns 1,407 shares of the bank’s stock worth $141,000 after purchasing an additional 247 shares in the last quarter. Bbva Compass Bancshares Inc. acquired a new stake in shares of First Republic Bank during the second quarter worth about $762,000. Barnett & Company Inc. acquired a new position in First Republic Bank in the 2nd quarter valued at about $100,000. Finally, World Asset Management Inc increased its position in First Republic Bank by 1.7% in the 2nd quarter. World Asset Management Inc now owns 6,776 shares of the bank’s stock valued at $678,000 after acquiring an additional 115 shares during the period.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 26th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, October 25th. This represents a $0.68 annualized dividend and a dividend yield of 0.71%. First Republic Bank’s dividend payout ratio is currently 16.04%.
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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.
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