$1.26 EPS Expected for First Republic Bank (NYSE:FRC) This Quarter

Wall Street analysts expect that First Republic Bank (NYSE:FRC) will announce $1.26 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for First Republic Bank’s earnings. The highest EPS estimate is $1.31 and the lowest is $1.18. First Republic Bank reported earnings per share of $1.20 during the same quarter last year, which would indicate a positive year over year growth rate of 5%. The company is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, July 16th.

On average, analysts expect that First Republic Bank will report full-year earnings of $5.25 per share for the current fiscal year, with EPS estimates ranging from $5.12 to $5.40. For the next fiscal year, analysts forecast that the firm will report earnings of $5.82 per share, with EPS estimates ranging from $5.41 to $6.15. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover First Republic Bank.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Friday, April 12th. The bank reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.04. The company had revenue of $807.36 million for the quarter, compared to analysts’ expectations of $813.99 million. First Republic Bank had a net margin of 23.61% and a return on equity of 11.56%. During the same period in the prior year, the company posted $1.13 EPS.

A number of research firms recently weighed in on FRC. BMO Capital Markets upped their target price on shares of First Republic Bank from $95.00 to $111.00 and gave the stock a “market perform” rating in a report on Friday, March 15th. Zacks Investment Research lowered shares of First Republic Bank from a “hold” rating to a “sell” rating and set a $104.00 target price on the stock. in a report on Friday, July 5th. Credit Suisse Group began coverage on shares of First Republic Bank in a report on Friday, June 14th. They set a “neutral” rating and a $105.00 target price on the stock. Maxim Group reaffirmed a “buy” rating and set a $115.00 target price (up previously from $110.00) on shares of First Republic Bank in a report on Friday, April 12th. Finally, Raymond James lowered shares of First Republic Bank to a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. First Republic Bank has an average rating of “Hold” and an average target price of $103.43.

Shares of FRC stock traded down $0.68 during trading on Wednesday, reaching $100.32. 14,809 shares of the company’s stock traded hands, compared to its average volume of 1,253,801. The company has a market capitalization of $16.77 billion, a P/E ratio of 20.89, a P/E/G ratio of 1.69 and a beta of 0.90. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a 50-day moving average price of $97.94. First Republic Bank has a 1 year low of $79.42 and a 1 year high of $107.75.

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in First Republic Bank during the 4th quarter valued at $103,154,000. Swedbank purchased a new stake in First Republic Bank during the 2nd quarter valued at $101,370,000. Geode Capital Management LLC boosted its position in First Republic Bank by 57.4% during the 4th quarter. Geode Capital Management LLC now owns 2,097,305 shares of the bank’s stock valued at $181,934,000 after buying an additional 764,661 shares during the period. Northern Trust Corp boosted its position in First Republic Bank by 42.1% during the 1st quarter. Northern Trust Corp now owns 1,720,178 shares of the bank’s stock valued at $172,810,000 after buying an additional 509,672 shares during the period. Finally, Baillie Gifford & Co. boosted its position in First Republic Bank by 7.9% during the 4th quarter. Baillie Gifford & Co. now owns 6,708,104 shares of the bank’s stock valued at $582,934,000 after buying an additional 491,194 shares during the period.

About First Republic Bank

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

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