First Republic Bank (NYSE:FRC) Issues Earnings Results, Beats Expectations By $0.07 EPS

First Republic Bank (NYSE:FRC) posted its quarterly earnings data on Tuesday. 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 prior year, the business earned $1.61 EPS.

Shares of FRC 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 stock 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 firm has a 50-day simple moving average of $198.83 and a two-hundred day simple moving average of $190.43. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Thursday, October 28th will be given a dividend of $0.22 per share. 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 presently 15.15%.

Several equities analysts have issued reports on FRC shares. 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. Barclays increased their price objective on shares of First Republic Bank from $205.00 to $215.00 and gave the company an “equal weight” rating in a report on Thursday. Maxim Group raised their price target on shares of First Republic Bank from $210.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, July 14th. Credit Suisse Group raised their price target on shares of First Republic Bank from $163.00 to $180.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 14th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Republic Bank from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $187.08.

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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