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

First Republic Bank (NYSE:FRC) announced its earnings results on Tuesday. The bank reported $1.91 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $1.61 earnings per share.

NYSE FRC traded up $5.26 during mid-day trading on Thursday, reaching $210.11. The stock had a trading volume of 7,902 shares, compared to its average volume of 769,505. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.97 and a quick ratio of 0.97. First Republic Bank has a 1 year low of $120.03 and a 1 year high of $207.66. The stock has a market cap of $36.18 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. The company has a fifty day moving average price of $198.83 and a 200 day moving average price of $190.43.

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

FRC has been the topic of several research reports. Morgan Stanley raised their target price on First Republic Bank from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. Keefe, Bruyette & Woods boosted their price target on First Republic Bank from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 13th. Barclays upped their target price on First Republic Bank from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Thursday. Credit Suisse Group lifted their target price on First Republic Bank from $163.00 to $180.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 14th. Finally, JPMorgan Chase & Co. boosted their price target on First Republic Bank from $235.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $194.54.

First Republic Bank Company Profile

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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