First Republic Bank Plans Quarterly Dividend of $0.17 (FRC)

First Republic Bank (NYSE:FRC) declared a quarterly dividend on Tuesday, January 16th, RTT News reports. Stockholders of record on Thursday, January 25th will be given a dividend of 0.17 per share by the bank on Thursday, February 8th. This represents a $0.68 annualized dividend and a dividend yield of 0.75%.

First Republic Bank has increased its dividend by an average of 7.5% annually over the last three years and has raised its dividend every year for the last 5 years. First Republic Bank has a payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings. Analysts expect First Republic Bank to earn $5.13 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 13.3%.

First Republic Bank (NYSE FRC) opened at $91.06 on Tuesday. The company has a market capitalization of $14,365.31, a P/E ratio of 21.48, a PEG ratio of 1.43 and a beta of 0.96. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.95. First Republic Bank has a one year low of $84.56 and a one year high of $105.52.

First Republic Bank (NYSE:FRC) last released its earnings results on Tuesday, January 16th. The bank reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by ($0.14). The business had revenue of $699.20 million for the quarter, compared to analysts’ expectations of $688.48 million. First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share. sell-side analysts anticipate that First Republic Bank will post 4.45 earnings per share for the current year.

FRC has been the topic of several research reports. Jefferies Group lowered First Republic Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Zacks Investment Research raised First Republic Bank from a “sell” rating to a “hold” rating in a research report on Friday, December 8th. Morgan Stanley reissued an “equal weight” rating and set a $106.00 price target on shares of First Republic Bank in a research report on Thursday, December 14th. Raymond James Financial dropped their price target on First Republic Bank from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, October 16th. Finally, Barclays set a $102.00 price target on First Republic Bank and gave the company a “hold” rating in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $103.00.

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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.

Dividend History for First Republic Bank (NYSE:FRC)

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