First Republic Bank (FRC) Releases Earnings Results, Misses Estimates By $0.01 EPS

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First Republic Bank (NYSE:FRC) released its quarterly earnings results on Friday. The bank reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.01), MarketWatch Earnings reports. First Republic Bank had a net margin of 24.80% and a return on equity of 11.73%. During the same quarter in the prior year, the business posted $1.14 earnings per share.

Shares of FRC stock opened at $93.12 on Friday. First Republic Bank has a 1 year low of $84.56 and a 1 year high of $106.75. The firm has a market cap of $15.14 billion, a P/E ratio of 21.61, a P/E/G ratio of 1.64 and a beta of 0.84. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Investors of record on Thursday, October 25th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.77%. First Republic Bank’s dividend payout ratio (DPR) is currently 16.71%.

A number of equities analysts have recently commented on FRC shares. BMO Capital Markets lifted their price target on shares of First Republic Bank from $96.00 to $102.00 and gave the company a “market perform” rating in a research report on Friday, July 13th. Wells Fargo & Co lifted their price target on shares of First Republic Bank from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, June 26th. Citigroup started coverage on shares of First Republic Bank in a research report on Monday, June 18th. They issued a “buy” rating and a $120.00 price target on the stock. Royal Bank of Canada boosted their target price on shares of First Republic Bank to $102.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 13th. They noted that the move was a valuation call. Finally, Wedbush reaffirmed an “outperform” rating on shares of First Republic Bank in a research report on Friday, July 13th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. First Republic Bank presently has a consensus rating of “Hold” and a consensus price target of $102.54.

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 of 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, and passbook deposits, as well as certificates of deposit.

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Earnings History for First Republic Bank (NYSE:FRC)

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