Brokerages Expect First Republic Bank (FRC) to Announce $1.21 Earnings Per Share

Wall Street brokerages expect First Republic Bank (NYSE:FRC) to announce $1.21 earnings per share for the current quarter, according to Zacks. Five analysts have provided estimates for First Republic Bank’s earnings, with the lowest EPS estimate coming in at $1.18 and the highest estimate coming in at $1.25. First Republic Bank posted earnings of $1.14 per share during the same quarter last year, which suggests a positive year over year growth rate of 6.1%. The firm is scheduled to announce its next quarterly earnings report on Friday, October 12th.

On average, analysts expect that First Republic Bank will report full year earnings of $4.78 per share for the current year, with EPS estimates ranging from $4.71 to $4.90. For the next financial year, analysts expect that the firm will report earnings of $5.52 per share, with EPS estimates ranging from $5.35 to $5.75. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow First Republic Bank.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Friday, July 13th. The bank reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.05. First Republic Bank had a return on equity of 11.73% and a net margin of 24.80%. The firm had revenue of $744.11 million for the quarter, compared to analyst estimates of $734.03 million.

A number of research analysts recently weighed in on the company. Royal Bank of Canada upped their price objective on First Republic Bank to $102.00 and gave the stock a “sector perform” rating in a report on Thursday, September 13th. They noted that the move was a valuation call. Wedbush reaffirmed an “outperform” rating on shares of First Republic Bank in a report on Friday, July 13th. Jefferies Financial Group reaffirmed a “hold” rating and set a $96.00 price objective on shares of First Republic Bank in a report on Monday, July 16th. BMO Capital Markets upped their price objective on First Republic Bank from $96.00 to $102.00 and gave the stock a “market perform” rating in a report on Friday, July 13th. Finally, Wells Fargo & Co upped their price objective on First Republic Bank from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Tuesday, June 26th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $102.92.

A number of institutional investors and hedge funds have recently bought and sold shares of FRC. Meadow Creek Investment Management LLC lifted its position in shares of First Republic Bank by 22.2% in the second quarter. Meadow Creek Investment Management LLC now owns 181,216 shares of the bank’s stock valued at $17,540,000 after acquiring an additional 32,912 shares in the last quarter. Whittier Trust Co. lifted its position in shares of First Republic Bank by 6.0% in the second quarter. Whittier Trust Co. now owns 29,046 shares of the bank’s stock valued at $2,811,000 after acquiring an additional 1,644 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of First Republic Bank by 3.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 16,706 shares of the bank’s stock valued at $1,617,000 after acquiring an additional 514 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of First Republic Bank by 15.9% in the second quarter. Bank of New York Mellon Corp now owns 1,345,785 shares of the bank’s stock valued at $130,259,000 after acquiring an additional 184,829 shares in the last quarter. Finally, Waddell & Reed Financial Inc. lifted its position in shares of First Republic Bank by 6.2% in the second quarter. Waddell & Reed Financial Inc. now owns 1,309,725 shares of the bank’s stock valued at $126,768,000 after acquiring an additional 76,878 shares in the last quarter.

FRC stock traded up $0.19 on Monday, reaching $100.98. 1,460,975 shares of the company’s stock were exchanged, compared to its average volume of 1,014,222. First Republic Bank has a twelve month low of $84.56 and a twelve month high of $106.75. The firm has a market capitalization of $15.90 billion, a PE ratio of 23.43, a P/E/G ratio of 1.72 and a beta of 0.84. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99.

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 of 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, and passbook deposits, as well as certificates of deposit.

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

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