First Republic Bank (NYSE:FRC) Issues Earnings Results

First Republic Bank (NYSE:FRC) released its quarterly earnings data on Wednesday. The bank reported $1.60 EPS for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.08, MarketWatch Earnings reports. First Republic Bank had a net margin of 22.95% and a return on equity of 10.96%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the business posted $1.39 earnings per share. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year.

Shares of First Republic Bank stock traded down $4.80 on Friday, hitting $153.24. The stock had a trading volume of 33,918 shares, compared to its average volume of 1,254,964. The stock has a 50 day moving average of $140.61 and a 200 day moving average of $122.83. First Republic Bank has a twelve month low of $70.06 and a twelve month high of $166.82. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $26.39 billion, a P/E ratio of 27.53, a PEG ratio of 3.27 and a beta of 1.06.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 11th. Shareholders of record on Thursday, January 28th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.52%. First Republic Bank’s payout ratio is 15.38%.

A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of First Republic Bank from $116.00 to $130.00 in a research report on Wednesday, October 14th. Maxim Group boosted their target price on shares of First Republic Bank to $200.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of First Republic Bank from $148.00 to $160.00 in a research report on Tuesday, December 15th. Barclays boosted their target price on shares of First Republic Bank from $130.00 to $156.00 and gave the company an “equal weight” rating in a research report on Monday, January 4th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Republic Bank from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, November 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $132.94.

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 in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company accepts 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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