First Republic Bank (NYSE:FRC) – Equities researchers at Wedbush lifted their FY2021 earnings estimates for First Republic Bank in a research report issued on Tuesday, November 5th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $5.76 per share for the year, up from their prior estimate of $5.70. Wedbush has a “Outperform” rating and a $119.00 price objective on the stock.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Tuesday, October 15th. The bank reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.10. The firm had revenue of $837.19 million for the quarter, compared to analysts’ expectations of $830.60 million. First Republic Bank had a return on equity of 11.23% and a net margin of 22.69%. During the same quarter last year, the business earned $1.19 EPS.

FRC has been the topic of several other reports. Bank of America increased their target price on First Republic Bank from $99.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their target price on First Republic Bank to $105.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. BMO Capital Markets increased their target price on First Republic Bank from $97.00 to $103.00 and gave the stock a “market perform” rating in a report on Wednesday, October 16th. They noted that the move was a valuation call. JPMorgan Chase & Co. increased their target price on First Republic Bank from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, UBS Group increased their target price on First Republic Bank from $100.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $107.00.

FRC stock traded up $0.21 during trading hours on Friday, hitting $110.22. 915,143 shares of the stock were exchanged, compared to its average volume of 1,239,723. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $18.47 billion, a P/E ratio of 22.91, a P/E/G ratio of 3.71 and a beta of 0.90. The company has a 50-day simple moving average of $101.18 and a two-hundred day simple moving average of $98.22. First Republic Bank has a 12 month low of $79.42 and a 12 month high of $111.67.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Financial Bank Trust Division acquired a new stake in shares of First Republic Bank during the second quarter worth approximately $5,263,000. Private Trust Co. NA acquired a new stake in shares of First Republic Bank during the second quarter worth approximately $516,000. Swedbank acquired a new stake in shares of First Republic Bank during the second quarter worth approximately $101,370,000. DNB Asset Management AS boosted its holdings in shares of First Republic Bank by 4.1% during the second quarter. DNB Asset Management AS now owns 16,782 shares of the bank’s stock worth $1,639,000 after purchasing an additional 665 shares during the period. Finally, Douglas Lane & Associates LLC boosted its holdings in shares of First Republic Bank by 1.1% during the second quarter. Douglas Lane & Associates LLC now owns 882,783 shares of the bank’s stock worth $86,204,000 after purchasing an additional 9,999 shares during the period.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Wednesday, October 30th. First Republic Bank’s dividend payout ratio (DPR) is currently 15.80%.

First Republic Bank Company Profile

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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

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