First Republic Bank (NYSE:FRC) Issues Quarterly Earnings Results

First Republic Bank (NYSE:FRC) announced its earnings results on Tuesday. The bank reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.07, MarketWatch Earnings reports. First Republic Bank had a return on equity of 12.40% and a net margin of 26.82%. During the same quarter in the prior year, the company posted $1.61 EPS.

Shares of FRC stock opened at $204.85 on Thursday. First Republic Bank has a 1-year low of $120.03 and a 1-year high of $207.66. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $35.27 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 1.58 and a beta of 1.12. The stock’s fifty day simple moving average is $198.83 and its 200-day simple moving average is $190.43.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Thursday, October 28th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, October 27th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.43%. First Republic Bank’s dividend payout ratio is 15.15%.

Several brokerages have weighed in on FRC. Maxim Group lifted their target price on First Republic Bank from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 14th. Morgan Stanley lifted their price target on First Republic Bank from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, August 2nd. Barclays lifted their price target on First Republic Bank from $205.00 to $215.00 and gave the company an “equal weight” rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on First Republic Bank from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, July 13th. Finally, JPMorgan Chase & Co. lifted their price target on First Republic Bank from $235.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, First Republic Bank currently has a consensus rating of “Hold” and an average target price of $194.54.

First Republic Bank Company Profile

First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.

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Earnings History for First Republic Bank (NYSE:FRC)

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