FY2018 EPS Estimates for First Republic Bank (FRC) Lifted by FIG Partners

First Republic Bank (NYSE:FRC) – FIG Partners raised their FY2018 earnings estimates for First Republic Bank in a research note issued on Wednesday. FIG Partners analyst T. Coffey now anticipates that the bank will post earnings per share of $5.73 for the year, up from their prior forecast of $5.17.

Several other brokerages also recently weighed in on FRC. Jefferies Group increased their target price on shares of First Republic Bank from $109.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. Barclays set a $102.00 price objective on shares of First Republic Bank and gave the company a “hold” rating in a research report on Monday, October 16th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $87.00 price objective on shares of First Republic Bank in a research report on Friday, October 13th. Piper Jaffray Companies set a $99.00 price objective on shares of First Republic Bank and gave the company a “hold” rating in a research report on Sunday, October 15th. Finally, Wells Fargo & Co reduced their price objective on shares of First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. First Republic Bank presently has an average rating of “Hold” and an average price target of $103.00.

Shares of First Republic Bank (NYSE:FRC) traded up $2.85 on Monday, hitting $87.81. 2,170,000 shares of the stock traded hands, compared to its average volume of 1,410,000. First Republic Bank has a twelve month low of $84.56 and a twelve month high of $105.52. The firm has a market capitalization of $13,810.00, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 1.41 and a beta of 0.96. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55.

First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The business had revenue of $670.30 million for the quarter, compared to analyst estimates of $678.25 million. During the same quarter last year, the company posted $1.00 EPS. First Republic Bank’s quarterly revenue was up 20.1% on a year-over-year basis.

Hedge funds have recently bought and sold shares of the company. Zions Bancorporation acquired a new stake in shares of First Republic Bank during the 3rd quarter valued at approximately $160,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of First Republic Bank by 0.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock valued at $195,000 after acquiring an additional 5 shares during the period. Mawer Investment Management Ltd. acquired a new stake in shares of First Republic Bank during the 3rd quarter valued at approximately $209,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of First Republic Bank during the 3rd quarter valued at approximately $209,000. Finally, Brookmont Capital Management acquired a new stake in shares of First Republic Bank during the 3rd quarter valued at approximately $210,000. Institutional investors own 98.75% of the company’s stock.

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About First Republic Bank

First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.

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

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