First Republic Bank (FRC) to Release Earnings on Thursday
First Republic Bank (NYSE:FRC) will be issuing its Q316 quarterly earnings data on Thursday, October 13th. Analysts expect the company to announce earnings of $0.99 per share and revenue of $593.04 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.
First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Thursday, July 14th. The company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. The company earned $535.10 million during the quarter, compared to the consensus estimate of $568.53 million. First Republic Bank had a net margin of 27.20% and a return on equity of 12.59%. During the same period last year, the firm earned $0.73 EPS. On average, analysts expect First Republic Bank to post $3.91 EPS for the current fiscal year and $4.41 EPS for the next fiscal year.
First Republic Bank (NYSE:FRC) opened at 78.67 on Tuesday. The company has a 50-day moving average of $76.46 and a 200 day moving average of $71.55. The company has a market capitalization of $11.79 billion, a P/E ratio of 22.08 and a beta of 1.06. First Republic Bank has a 12-month low of $56.32 and a 12-month high of $79.15.
Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of First Republic Bank from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Barclays PLC lifted their target price on shares of First Republic Bank from $78.00 to $84.00 and gave the stock an “overweight” rating in a report on Thursday, August 11th. FBR & Co reaffirmed a “hold” rating on shares of First Republic Bank in a report on Sunday, July 17th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of First Republic Bank in a report on Sunday, July 17th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of First Republic Bank in a report on Sunday, July 17th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $75.23.
Several institutional investors have recently bought and sold shares of the company. Profund Advisors LLC purchased a new position in First Republic Bank during the second quarter worth $211,000. Advisor Group Inc. purchased a new position in First Republic Bank during the second quarter worth $264,000. Prudential Financial Inc. raised its position in First Republic Bank by 18.4% in the second quarter. Prudential Financial Inc. now owns 3,868 shares of the company’s stock worth $271,000 after buying an additional 600 shares during the last quarter. Franklin Resources Inc. raised its position in First Republic Bank by 1.4% in the second quarter. Franklin Resources Inc. now owns 3,904 shares of the company’s stock worth $273,000 after buying an additional 55 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC purchased a new position in First Republic Bank during the second quarter worth $360,000. Institutional investors and hedge funds own 98.24% of the company’s stock.
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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