Brokers expect First Republic Bank (NYSE: FRC) to report $ 1.35 billion in revenue for the current quarter, Zacks investment research reports. Four analysts made estimates for First Republic Bank’s earnings. The lowest sales estimate is $ 1.33 billion and the highest is $ 1.38 billion. First Republic Bank reported sales of $ 1.08 billion in the same quarter last year, indicating a positive growth rate of 25% year-over-year. The company is expected to publish its next results on Thursday, January 13.
On average, analysts expect First Republic Bank to report annual revenue of $ 5.04 billion for the current fiscal year, with estimates ranging from $ 5.00 to 5.16 billion. dollars. For next year, analysts predict the company will post sales of $ 5.80 billion, with estimates ranging from $ 5.64 billion to $ 5.97 billion. Zacks Investment Research sales averages are an average based on a survey of seller-side analysts who cover First Republic Bank.
First Republic Bank (NYSE: FRC) last released its quarterly results on Wednesday, October 13. The bank reported earnings per share (EPS) of $ 1.91 for the quarter, beating Thomson Reuters’ consensus estimate of $ 1.84 of $ 0.07. First Republic Bank had a net margin of 27.09% and a return on equity of 12.47%. During the same period last year, the company earned $ 1.61 per share.
A number of brokerage firms have recently weighed in on FRC. Maxim Group raised its price target on First Republic Bank from $ 210.00 to $ 235.00 and gave the stock a “buy” rating in a research note on Wednesday, July 14. Credit Suisse Group increased its price target on First Republic Bank shares from $ 163.00 to $ 180.00 and gave the company an “underperformance” rating in a report released on Wednesday, July 14. JPMorgan Chase & Co. raised its price target on First Republic Bank from $ 235.00 to $ 240.00 and rated the stock “overweight” in a research note on Thursday, October 14. Morgan Stanley increased its price target on First Republic Bank from $ 190.00 to $ 215.00 and gave the company an “equal weight” rating in a report released on Wednesday, October 27. Finally, the Royal Bank of Canada raised its price target on First Republic Bank from $ 208.00 to $ 212.00 and assigned the company a “sector performance” rating in a research report published on Thursday, October 14. . Two analysts gave the stock a sell rating, five assigned a conservation rating, and four gave the company a buy rating. Based on data from MarketBeat.com, First Republic Bank currently has an average “Hold” rating and an average price target of $ 204.50.
Actions of NYSE: FRC open for $ 219.05 on Mondays. The company’s 50-day moving average is $ 204.25 and its 200-day moving average is $ 195.80. First Republic Bank has a one-year low at $ 127.60 and a one-year high at $ 222.00. The company has a market cap of $ 38.62 billion, a P / E ratio of 30.21, a P / E / G ratio of 1.77 and a beta of 1.12. The company has a leverage ratio of 0.80, a current ratio of 0.96, and a quick ratio of 0.96.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 12. Shareholders of record on Thursday, October 28 will receive a dividend of $ 0.22 per share. This represents an annualized dividend of $ 0.88 and a dividend yield of 0.40%. The ex-dividend date of this dividend is Wednesday, October 27. First Republic Bank’s payout ratio is currently 12.14%.
Institutional investors recently changed their positions in the stock. AXA SA increased its stake in First Republic Bank by 2.7% in the second quarter. AXA SA now owns 165,987 shares of the bank valued at $ 31,068,000 after purchasing 4,424 additional shares during the period. Legal & General Group Plc increased its stake in First Republic Bank by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 1,206,304 shares of the bank valued at $ 225,784,000 after acquiring an additional 41,941 shares during the period. Vancity Investment Management Ltd increased its stake in First Republic Bank by 50.1% in the second quarter. Vancity Investment Management Ltd now owns 76,127 shares of the bank valued at $ 14,249,000 after acquiring an additional 25,418 shares in the last quarter. Baker Tilly Wealth Management LLC increased its position in First Republic Bank by 72.5% in the first quarter. Baker Tilly Wealth Management LLC now owns 2,676 shares of the bank valued at $ 446,000 after acquiring an additional 1,125 shares during the period. Finally, Profund Advisors LLC increased its stake in First Republic Bank by 150.6% during the second quarter. Profund Advisors LLC now owns 16,104 shares of the bank valued at $ 3,014,000 after purchasing an additional 9,678 shares in the last quarter. Hedge funds and other institutional investors hold 96.76% of the company’s shares.
First Republic Bank Company Profile
First Republic Bank offers private banking, merchant banking, mortgage lending and wealth management services, 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 secured real estate lending, retail deposit taking, private banking, mortgage loan sales and management, and capital, liquidity and risk management. interest rate.
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