FY2017 EPS Estimates for First Republic Bank (FRC) Lifted by FIG Partners
First Republic Bank (NYSE:FRC) – Equities researchers at FIG Partners raised their FY2017 earnings estimates for shares of First Republic Bank in a research report issued on Thursday. FIG Partners analyst T. Coffey now expects that the bank will post earnings per share of $4.43 for the year, up from their previous estimate of $4.42. FIG Partners also issued estimates for First Republic Bank’s Q4 2017 earnings at $1.22 EPS, Q3 2018 earnings at $1.30 EPS, Q4 2018 earnings at $1.34 EPS and FY2018 earnings at $5.17 EPS.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut First Republic Bank from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Jefferies Group reiterated a “buy” rating and set a $109.00 price target on shares of First Republic Bank in a report on Friday, September 15th. Piper Jaffray Companies reiterated a “hold” rating and set a $99.00 price target on shares of First Republic Bank in a report on Friday, September 1st. Raymond James Financial reduced their price target on First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, October 16th. Finally, Barclays set a $102.00 price target on First Republic Bank and gave the stock a “hold” rating in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $102.93.
First Republic Bank (NYSE:FRC) opened at $95.81 on Monday. The firm has a market capitalization of $15,094.14, a PE ratio of 22.57, a PEG ratio of 1.78 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55. First Republic Bank has a 1-year low of $83.46 and a 1-year high of $105.52.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). The company had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. First Republic Bank’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS.
A number of institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC acquired a new stake in First Republic Bank during the third quarter worth approximately $564,000. IFM Investors Pty Ltd acquired a new stake in First Republic Bank during the third quarter worth approximately $438,000. Sterling Capital Management LLC lifted its position in First Republic Bank by 32.5% during the third quarter. Sterling Capital Management LLC now owns 67,414 shares of the bank’s stock worth $7,042,000 after acquiring an additional 16,554 shares during the last quarter. Neuberger Berman Group LLC lifted its position in First Republic Bank by 5.3% during the third quarter. Neuberger Berman Group LLC now owns 544,122 shares of the bank’s stock worth $56,839,000 after acquiring an additional 27,551 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in First Republic Bank by 6.6% during the third quarter. California Public Employees Retirement System now owns 366,398 shares of the bank’s stock worth $38,274,000 after acquiring an additional 22,798 shares during the last quarter. Institutional investors and hedge funds own 99.14% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Thursday, October 26th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date was Wednesday, October 25th. First Republic Bank’s payout ratio is currently 16.04%.
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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