First Republic Bank (NYSE:FRC) announced a quarterly dividend on Thursday, October 13th. Stockholders of record on Thursday, October 27th will be paid a dividend of 0.16 per share on Thursday, November 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, October 25th.

First Republic Bank (NYSE:FRC) last announced its earnings results on Thursday, October 13th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.01. The business earned $557.90 million during the quarter, compared to analysts’ expectations of $592.65 million. First Republic Bank had a net margin of 27.20% and a return on equity of 12.59%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted $0.79 EPS.

Dividend History for First Republic Bank (NYSE:FRC)

Several research firms have weighed in on FRC. Jefferies Group restated a “buy” rating and issued a $80.00 price objective on shares of First Republic Bank in a research report on Thursday, July 7th. JPMorgan Chase & Co. raised their price objective on shares of First Republic Bank from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, July 15th. Keefe, Bruyette & Woods raised their price objective on shares of First Republic Bank from $70.00 to $73.00 and gave the company a “market perform” rating in a research report on Friday, July 15th. BMO Capital Markets reiterated a “market perform” rating and set a $71.00 price target on shares of First Republic Bank in a research report on Friday, July 15th. Finally, Zacks Investment Research upgraded shares of First Republic Bank from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Tuesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $76.46.

A number of hedge funds have recently made changes to their positions in FRC. Profund Advisors LLC bought a new stake in shares of First Republic Bank during the second quarter valued at approximately $211,000. Advisor Group Inc. bought a new stake in shares of First Republic Bank during the second quarter valued at approximately $264,000. Prudential Financial Inc. increased its stake in shares of First Republic Bank by 18.4% in the second quarter. Prudential Financial Inc. now owns 3,868 shares of the company’s stock valued at $271,000 after buying an additional 600 shares during the period. Franklin Resources Inc. increased its stake in shares of First Republic Bank by 1.4% in the second quarter. Franklin Resources Inc. now owns 3,904 shares of the company’s stock valued at $273,000 after buying an additional 55 shares during the period. Finally, Silvercrest Asset Management Group LLC bought a new stake in shares of First Republic Bank during the second quarter valued at approximately $360,000. Hedge funds and other institutional investors own 98.24% 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.

5 Day Chart for NYSE:FRC

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