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

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

Shares of FRC opened at $204.85 on Thursday. The company has a market cap of $35.27 billion, a PE ratio of 29.47, a P/E/G ratio of 1.58 and a beta of 1.12. The business has a fifty day moving average of $198.83 and a 200 day moving average of $190.43. First Republic Bank has a 52-week low of $120.03 and a 52-week high of $207.66. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.97.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Investors of record on Thursday, October 28th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.43%. First Republic Bank’s dividend payout ratio is presently 15.15%.

FRC has been the topic of several recent research reports. Barclays increased their price objective on shares of First Republic Bank from $177.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 14th. Keefe, Bruyette & Woods increased their price objective on shares of First Republic Bank from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, July 13th. Morgan Stanley increased their price objective on shares of First Republic Bank from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, August 2nd. Maxim Group raised their target price on shares of First Republic Bank from $210.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, July 14th. Finally, Credit Suisse Group raised their target price on shares of First Republic Bank from $163.00 to $180.00 and gave the company an “underperform” rating in a report on Wednesday, July 14th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $186.31.

About First Republic Bank

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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