$687.58 Million in Sales Expected for First Republic Bank (NYSE:FRC) This Quarter

Equities analysts forecast that First Republic Bank (NYSE:FRC) will post sales of $687.58 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for First Republic Bank’s earnings. The lowest sales estimate is $653.30 million and the highest is $731.00 million. First Republic Bank posted sales of $557.88 million during the same quarter last year, which suggests a positive year-over-year growth rate of 23.2%. The company is expected to announce its next quarterly earnings report on Thursday, October 12th.

According to Zacks, analysts expect that First Republic Bank will report full year sales of $687.58 million for the current fiscal year, with estimates ranging from $2.58 billion to $2.84 billion. For the next fiscal year, analysts expect that the firm will post sales of $3.12 billion per share, with estimates ranging from $2.98 billion to $3.30 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for First Republic Bank.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Friday, July 14th. The bank reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by $0.03. The company had revenue of $641.30 million during the quarter, compared to analyst estimates of $671.27 million. First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 EPS.

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $90.00 price objective on shares of First Republic Bank in a research note on Thursday, July 27th. BidaskClub lowered shares of First Republic Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. BMO Capital Markets reiterated a “hold” rating and issued a $96.00 price objective on shares of First Republic Bank in a research note on Sunday, July 16th. Piper Jaffray Companies reiterated a “hold” rating and issued a $99.00 price objective on shares of First Republic Bank in a research note on Friday, July 14th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $109.00 price objective on shares of First Republic Bank in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. First Republic Bank has an average rating of “Hold” and a consensus target price of $104.54.

Hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. increased its stake in First Republic Bank by 37.7% in the fourth quarter. Macquarie Group Ltd. now owns 56,037 shares of the bank’s stock valued at $5,163,000 after buying an additional 15,337 shares in the last quarter. Raymond James Trust N.A. increased its stake in First Republic Bank by 28.8% in the first quarter. Raymond James Trust N.A. now owns 3,076 shares of the bank’s stock valued at $288,000 after buying an additional 687 shares in the last quarter. Creative Planning increased its stake in First Republic Bank by 5.5% in the first quarter. Creative Planning now owns 1,160 shares of the bank’s stock valued at $109,000 after buying an additional 60 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in First Republic Bank by 12.4% in the first quarter. Gulf International Bank UK Ltd now owns 47,115 shares of the bank’s stock valued at $4,419,000 after buying an additional 5,200 shares in the last quarter. Finally, Capstone Asset Management Co. increased its stake in First Republic Bank by 27.1% in the first quarter. Capstone Asset Management Co. now owns 3,372 shares of the bank’s stock valued at $316,000 after buying an additional 720 shares in the last quarter. 99.64% of the stock is owned by institutional investors.

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First Republic Bank (FRC) opened at 100.35 on Thursday. First Republic Bank has a one year low of $71.66 and a one year high of $104.17. The firm has a market cap of $15.82 billion, a price-to-earnings ratio of 24.48 and a beta of 0.99. The firm has a 50 day moving average of $100.93 and a 200-day moving average of $95.64.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Thursday, July 27th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.68%. The ex-dividend date is Tuesday, July 25th. First Republic Bank’s dividend payout ratio is 16.59%.

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

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