Equities Analysts Offer Predictions for First Republic Bank’s Q1 2018 Earnings (FRC)
First Republic Bank (NYSE:FRC) – Investment analysts at FIG Partners issued their Q1 2018 earnings per share estimates for shares of First Republic Bank in a report released on Thursday. FIG Partners analyst T. Coffey expects that the brokerage will post earnings per share of $1.21 for the quarter. FIG Partners also issued estimates for First Republic Bank’s Q2 2018 earnings at $1.29 EPS, Q3 2018 earnings at $1.31 EPS and FY2018 earnings at $5.16 EPS.
First Republic Bank (NYSE:FRC) last issued its earnings results on Thursday, October 13th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.01. The company earned $557.90 million during the quarter, compared to analysts’ expectations of $592.65 million. First Republic Bank had a return on equity of 12.95% and a net margin of 27.68%. First Republic Bank’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 EPS.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut First Republic Bank from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Deutsche Bank AG lifted their target price on First Republic Bank from $83.00 to $85.00 and gave the stock a “hold” rating in a report on Tuesday, October 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of First Republic Bank in a report on Friday. FBR & Co lifted their target price on First Republic Bank from $73.00 to $80.00 and gave the stock a “mkt perform” rating in a report on Friday. Finally, Barclays PLC set a $81.00 target price on First Republic Bank and gave the stock a “buy” rating in a report on Saturday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. First Republic Bank has a consensus rating of “Buy” and a consensus price target of $77.00.
Shares of First Republic Bank (NYSE:FRC) traded up 1.38% during midday trading on Monday, reaching $74.20. The company had a trading volume of 410,962 shares. The stock has a 50-day moving average of $76.61 and a 200 day moving average of $71.81. First Republic Bank has a 52 week low of $56.32 and a 52 week high of $79.15. The firm has a market capitalization of $11.12 billion, a price-to-earnings ratio of 20.83 and a beta of 1.06.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $0.64 annualized dividend and a dividend yield of 0.87%. First Republic Bank’s dividend payout ratio (DPR) is presently 17.34%.
Hedge funds have recently made changes to their positions in the stock. Sarasin & Partners LLP purchased a new stake in shares of First Republic Bank during the third quarter worth about $42,181,000. National Pension Service raised its stake in shares of First Republic Bank by 9.3% in the third quarter. National Pension Service now owns 130,728 shares of the company’s stock worth $10,080,000 after buying an additional 11,093 shares during the last quarter. Private Trust Co. NA raised its stake in shares of First Republic Bank by 34.5% in the third quarter. Private Trust Co. NA now owns 13,259 shares of the company’s stock worth $1,022,000 after buying an additional 3,400 shares during the last quarter. Howland Capital Management LLC raised its stake in shares of First Republic Bank by 17.9% in the third quarter. Howland Capital Management LLC now owns 126,502 shares of the company’s stock worth $9,755,000 after buying an additional 19,225 shares during the last quarter. Finally, Capstone Asset Management Co. purchased a new stake in shares of First Republic Bank during the third quarter worth about $204,000. Hedge funds and other institutional investors own 98.21% 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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