First Republic Bank (NYSE:FRC) Posts Earnings Results, Beats Estimates By $0.07 EPS

First Republic Bank (NYSE:FRC) announced its quarterly earnings results on Tuesday. The bank reported $1.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.07, MarketWatch Earnings reports. First Republic Bank had a return on equity of 12.40% and a net margin of 26.82%. During the same period in the prior year, the firm posted $1.61 EPS.

NYSE:FRC traded up $3.81 during trading hours on Thursday, hitting $208.66. The company’s stock had a trading volume of 14,987 shares, compared to its average volume of 769,505. The stock has a fifty day moving average of $198.83 and a 200-day moving average of $190.43. The stock has a market capitalization of $35.93 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. First Republic Bank has a 52-week low of $120.03 and a 52-week high of $207.66. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.97.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Investors of record on Thursday, October 28th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Wednesday, October 27th. First Republic Bank’s dividend payout ratio (DPR) is presently 15.15%.

A number of research firms have recently weighed in on FRC. JPMorgan Chase & Co. raised their price objective on First Republic Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday. Credit Suisse Group boosted their price objective on First Republic Bank from $163.00 to $180.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 14th. Maxim Group upped their price target on First Republic Bank from $210.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, July 14th. Keefe, Bruyette & Woods upped their price objective on First Republic Bank from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, July 13th. Finally, Morgan Stanley upped their price target on First Republic Bank from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, August 2nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $194.54.

About First Republic Bank

First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.

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Earnings History for First Republic Bank (NYSE:FRC)

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