First Republic Bank (NYSE:FRC) declared a quarterly dividend on Tuesday, July 16th, RTT News reports. Shareholders of record on Thursday, July 25th will be given a dividend of 0.19 per share by the bank on Thursday, August 8th. This represents a $0.76 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Wednesday, July 24th.
First Republic Bank has raised its dividend by an average of 6.4% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. First Republic Bank has a dividend payout ratio of 15.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Republic Bank to earn $5.73 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 13.3%.
NYSE:FRC opened at $94.76 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.01 and a quick ratio of 0.99. The business’s fifty day moving average is $97.78. The firm has a market capitalization of $15.77 billion, a PE ratio of 19.70, a PEG ratio of 1.89 and a beta of 0.89. First Republic Bank has a fifty-two week low of $79.42 and a fifty-two week high of $107.75.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Tuesday, July 16th. The bank reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.02). The company had revenue of $819.38 million for the quarter, compared to analyst estimates of $836.26 million. First Republic Bank had a return on equity of 11.30% and a net margin of 22.94%. During the same quarter in the prior year, the company posted $1.20 earnings per share. Equities research analysts predict that First Republic Bank will post 5.18 earnings per share for the current year.
FRC has been the subject of a number of research analyst reports. Raymond James cut shares of First Midwest Bancorp to a “hold” rating in a research report on Monday, July 8th. Wells Fargo & Co set a $68.00 price objective on shares of Emergent Biosolutions and gave the stock a “hold” rating in a research report on Tuesday, April 2nd. Maxim Group restated a “buy” rating and set a $110.00 price objective on shares of First Republic Bank in a research report on Wednesday. Wedbush restated an “outperform” rating on shares of First Republic Bank in a research report on Tuesday. Finally, Zacks Investment Research upgraded shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday, July 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. First Republic Bank has a consensus rating of “Hold” and a consensus price target of $103.61.
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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