First Republic Bank (NYSE:FRC) Releases Earnings Results

First Republic Bank (NYSE:FRC) released its earnings results on Tuesday. The bank reported $1.91 EPS for the quarter, topping analysts’ consensus estimates 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 earned $1.61 earnings per share.

Shares of NYSE FRC opened at $204.85 on Thursday. The company has a market cap of $35.27 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. First Republic Bank has a 12 month low of $120.03 and a 12 month high of $207.66. 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 company has a 50-day simple moving average of $198.83 and a 200-day simple moving average of $190.43.

The firm also recently announced 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 yield of 0.43%. The ex-dividend date of this dividend is Wednesday, October 27th. First Republic Bank’s payout ratio is currently 15.15%.

A number of analysts have recently commented on FRC shares. Morgan Stanley boosted their target price on shares of First Republic Bank from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, August 2nd. Barclays increased their price target on shares of First Republic Bank from $205.00 to $215.00 and gave the company an “equal weight” rating in a research note on Thursday. Maxim Group increased their price target on shares of First Republic Bank from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 14th. Credit Suisse Group upped their price objective on shares of First Republic Bank from $163.00 to $180.00 and gave the stock an “underperform” rating in a report on Wednesday, July 14th. Finally, Royal Bank of Canada upped their price objective on shares of First Republic Bank from $208.00 to $212.00 and gave the stock a “sector perform” rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Republic Bank currently has an average rating of “Hold” and an average price target of $193.38.

First Republic Bank Company Profile

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.

Read More: Understanding dividend yield and dividend payout ratio

Earnings History for First Republic Bank (NYSE:FRC)

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