First Republic Bank (NYSE:FRC) – Equities researchers at Jefferies Group cut their Q4 2016 earnings per share (EPS) estimates for shares of First Republic Bank in a report issued on Tuesday. Jefferies Group analyst C. Haire now expects that the brokerage will earn $1.02 per share for the quarter, down from their prior forecast of $1.03. Jefferies Group currently has a “Buy” rating and a $80.00 price objective on the stock. Jefferies Group also issued estimates for First Republic Bank’s Q1 2017 earnings at $1.03 EPS, Q2 2017 earnings at $1.11 EPS, Q3 2017 earnings at $1.18 EPS and Q4 2017 earnings at $1.22 EPS.

Several other equities analysts also recently commented on FRC. FBR & Co restated a “hold” rating on shares of First Republic Bank in a research report on Sunday, July 17th. Keefe, Bruyette & Woods restated a “hold” rating on shares of First Republic Bank in a research report on Sunday, July 17th. JPMorgan Chase & Co. restated a “buy” rating on shares of First Republic Bank in a research report on Sunday, July 17th. 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 First Republic Bank from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Tuesday, July 19th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $77.00.

Earnings History and Estimates for First Republic Bank (NYSE:FRC)

First Republic Bank (NYSE:FRC) opened at 73.99 on Thursday. First Republic Bank has a 52 week low of $56.32 and a 52 week high of $79.15. The company’s 50-day moving average price is $76.68 and its 200 day moving average price is $71.65. The company has a market cap of $11.09 billion, a PE ratio of 20.77 and a beta of 1.06.

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

Large investors have recently made changes to their positions in the company. Aperio Group LLC boosted its stake in shares of First Republic Bank by 54.3% in the first quarter. Aperio Group LLC now owns 35,088 shares of the company’s stock worth $2,338,000 after buying an additional 12,355 shares during the period. Nisa Investment Advisors L.L.C. boosted its stake in shares of First Republic Bank by 19.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 15,500 shares of the company’s stock worth $1,033,000 after buying an additional 2,500 shares during the period. Pacad Investment Ltd. bought a new stake in shares of First Republic Bank during the first quarter worth approximately $353,000. Ngam Advisors L.P. boosted its stake in shares of First Republic Bank by 28.9% in the first quarter. Ngam Advisors L.P. now owns 13,153 shares of the company’s stock worth $876,000 after buying an additional 2,949 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of First Republic Bank by 40.4% in the first quarter. TIAA CREF Investment Management LLC now owns 576,741 shares of the company’s stock worth $38,434,000 after buying an additional 165,852 shares during the period. 98.24% of the stock is owned by institutional investors and hedge funds.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, October 25th. This represents a $0.64 annualized dividend and a dividend yield of 0.86%. First Republic Bank’s dividend payout ratio (DPR) is currently 18.23%.

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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