Wall Street brokerages expect First Republic Bank (NYSE:FRC) to post earnings per share (EPS) of $1.09 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for First Republic Bank’s earnings, with the highest EPS estimate coming in at $1.14 and the lowest estimate coming in at $1.02. First Republic Bank posted earnings per share of $0.89 during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.5%. The company is scheduled to announce its next quarterly earnings results on Thursday, July 13th.
According to Zacks, analysts expect that First Republic Bank will report full-year earnings of $4.51 per share for the current financial year, with EPS estimates ranging from $4.34 to $4.65. For the next financial year, analysts expect that the company will post earnings of $5.35 per share, with EPS estimates ranging from $5.01 to $5.60. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow First Republic Bank.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Thursday, April 13th. The bank reported $1.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.01. First Republic Bank had a return on equity of 12.16% and a net margin of 27.99%. The firm had revenue of $601.14 million for the quarter, compared to analyst estimates of $626.14 million. During the same quarter in the prior year, the company posted $0.88 earnings per share.
FRC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods set a $90.00 target price on First Republic Bank and gave the stock a “hold” rating in a report on Friday, May 26th. Jefferies Group LLC restated a “buy” rating and issued a $109.00 target price on shares of First Republic Bank in a report on Sunday, June 11th. Zacks Investment Research cut First Republic Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 28th. Deutsche Bank AG lifted their target price on First Republic Bank from $98.00 to $101.00 and gave the stock a “hold” rating in a report on Tuesday, April 18th. Finally, Wedbush initiated coverage on First Republic Bank in a report on Tuesday. They issued an “outperform” rating and a $121.00 target price on the stock. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. First Republic Bank currently has a consensus rating of “Hold” and an average target price of $101.14.
Shares of First Republic Bank (FRC) traded up 1.83% on Friday, reaching $100.71. The company had a trading volume of 919,807 shares. First Republic Bank has a 12 month low of $63.97 and a 12 month high of $101.99. The stock has a 50 day moving average price of $94.76 and a 200-day moving average price of $93.36. The company has a market capitalization of $15.84 billion, a price-to-earnings ratio of 25.12 and a beta of 1.02.
Several hedge funds have recently modified their holdings of FRC. Comerica Bank boosted its stake in shares of First Republic Bank by 4.4% in the fourth quarter. Comerica Bank now owns 11,597 shares of the bank’s stock valued at $1,078,000 after buying an additional 484 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in First Republic Bank by 7.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,284 shares of the bank’s stock worth $855,000 after buying an additional 605 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in First Republic Bank by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 530,960 shares of the bank’s stock worth $48,922,000 after buying an additional 10,574 shares during the last quarter. Keybank National Association OH boosted its stake in First Republic Bank by 0.9% in the fourth quarter. Keybank National Association OH now owns 2,946 shares of the bank’s stock worth $271,000 after buying an additional 25 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in First Republic Bank by 17.2% in the fourth quarter. Brown Advisory Inc. now owns 4,789 shares of the bank’s stock worth $441,000 after buying an additional 703 shares during the last quarter. 98.62% of the stock is owned by institutional investors and hedge funds.
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.
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