Jefferies Group LLC reiterated their buy rating on shares of FIRST REPUBLIC BANK (NYSE:FRC) in a report published on Thursday, October 19th. Jefferies Group LLC currently has a $111.00 price objective on the bank’s stock. Jefferies Group also issued estimates for FIRST REPUBLIC BANK’s Q4 2017 earnings at $1.12 EPS, FY2017 earnings at $4.34 EPS, Q1 2018 earnings at $1.08 EPS, Q2 2018 earnings at $1.16 EPS, Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.31 EPS, FY2018 earnings at $4.80 EPS and FY2019 earnings at $5.40 EPS.
A number of other brokerages have also recently commented on FRC. BidaskClub cut shares of FIRST REPUBLIC BANK from a buy rating to a hold rating in a report on Thursday, July 13th. Royal Bank Of Canada reaffirmed a hold rating and set a $98.00 target price on shares of FIRST REPUBLIC BANK in a report on Friday, July 7th. Barclays PLC set a $102.00 target price on shares of FIRST REPUBLIC BANK and gave the company a hold rating in a report on Monday, October 16th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $87.00 target price on shares of FIRST REPUBLIC BANK in a report on Friday, October 13th. Finally, Piper Jaffray Companies set a $99.00 price objective on shares of FIRST REPUBLIC BANK and gave the stock a hold rating in a research note on Sunday, October 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $102.93.
FIRST REPUBLIC BANK (FRC) opened at 99.30 on Thursday. The company has a market cap of $15.68 billion, a PE ratio of 23.42 and a beta of 1.01. FIRST REPUBLIC BANK has a 52-week low of $72.43 and a 52-week high of $105.52. The firm’s 50 day moving average is $99.82 and its 200 day moving average is $97.61.
FIRST REPUBLIC BANK (NYSE:FRC) last announced its earnings results on Friday, October 13th. The bank reported $1.14 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 period in the prior year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. Analysts forecast that FIRST REPUBLIC BANK will post $4.37 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, October 25th. This represents a $0.68 annualized dividend and a yield of 0.68%. FIRST REPUBLIC BANK’s dividend payout ratio (DPR) is currently 16.04%.
Several institutional investors have recently added to or reduced their stakes in the company. 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 acquiring an additional 641,309 shares during the last quarter. 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 acquiring an additional 876,812 shares during the last quarter. 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 acquiring an additional 490,000 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of FIRST REPUBLIC BANK by 13.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,745,564 shares of the bank’s stock worth $675,230,000 after acquiring an additional 793,964 shares during the last quarter. 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 acquiring an additional 1,010,648 shares during the last quarter. Hedge funds and other institutional investors own 97.55% of the company’s stock.
FIRST REPUBLIC BANK Company Profile
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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