First Republic Bank (NYSE:FRC) – Investment analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for shares of First Republic Bank in a research report issued on Tuesday. Jefferies Group analyst C. Haire forecasts that the bank will post earnings of $1.09 per share for the quarter. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for First Republic Bank’s Q2 2018 earnings at $1.14 EPS, Q3 2018 earnings at $1.24 EPS and Q4 2018 earnings at $1.29 EPS.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.02). First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The business had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. During the same quarter in the previous year, the firm earned $1.00 EPS. First Republic Bank’s revenue was up 20.1% compared to the same quarter last year.
FRC has been the subject of a number of other research reports. BMO Capital Markets dropped their price objective on First Republic Bank from $96.00 to $92.00 and set a “market perform” rating for the company in a report on Monday, October 16th. Royal Bank of Canada restated a “hold” rating on shares of First Republic Bank in a report on Friday, September 29th. Barclays boosted their price objective on First Republic Bank from $98.00 to $101.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. Maxim Group restated a “buy” rating and set a $110.00 price objective on shares of First Republic Bank in a report on Thursday, January 4th. Finally, Zacks Investment Research cut First Republic Bank from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. First Republic Bank has an average rating of “Hold” and an average target price of $103.00.
First Republic Bank (FRC) opened at $91.06 on Friday. First Republic Bank has a 1-year low of $84.56 and a 1-year high of $105.52. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $14,320.00, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.45 and a beta of 0.96.
Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of First Republic Bank by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 12,886,696 shares of the bank’s stock worth $1,289,958,000 after buying an additional 641,309 shares during the period. BlackRock Inc. lifted its holdings in shares of First Republic Bank by 8.9% in the 2nd quarter. BlackRock Inc. now owns 10,708,811 shares of the bank’s stock worth $1,071,954,000 after buying an additional 876,812 shares during the period. Capital World Investors lifted its holdings in shares of First Republic Bank by 6.5% in the 2nd quarter. Capital World Investors now owns 8,068,025 shares of the bank’s stock worth $807,609,000 after buying an additional 490,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of First Republic Bank by 0.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,792,426 shares of the bank’s stock worth $703,966,000 after buying an additional 46,862 shares during the period. Finally, State Street Corp lifted its holdings in shares of First Republic Bank by 20.3% in the 2nd quarter. State Street Corp now owns 5,995,443 shares of the bank’s stock worth $600,135,000 after buying an additional 1,010,648 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.
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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.
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