First Republic Bank (NYSE:FRC) – Equities research analysts at Jefferies Group dropped their Q1 2017 EPS estimates for First Republic Bank in a report issued on Monday. Jefferies Group analyst C. Haire now expects that the firm will earn $1.00 per share for the quarter, down from their prior forecast of $1.03. Jefferies Group has a “Buy” rating and a $85.00 price target on the stock. Jefferies Group also issued estimates for First Republic Bank’s Q2 2017 earnings at $1.09 EPS, Q4 2017 earnings at $1.19 EPS, FY2017 earnings at $4.45 EPS and FY2018 earnings at $4.90 EPS.

A number of other equities research analysts have also commented on the company. Zacks Investment Research upgraded First Republic Bank from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Wednesday, November 16th. Morgan Stanley lowered First Republic Bank from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $77.00 to $85.00 in a research report on Wednesday, November 16th. They noted that the move was a valuation call. Barclays PLC set a $81.00 price target on First Republic Bank and gave the company a “buy” rating in a research report on Saturday, October 15th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of First Republic Bank in a research report on Friday, October 14th. Finally, Maxim Group upped their price target on First Republic Bank from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, October 14th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $80.55.

Earnings History and Estimates for First Republic Bank (NYSE:FRC)

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First Republic Bank (NYSE:FRC) opened at 81.53 on Tuesday. First Republic Bank has a 12-month low of $56.32 and a 12-month high of $86.32. The company has a market cap of $12.24 billion, a PE ratio of 21.79 and a beta of 0.93. The company has a 50-day moving average price of $77.69 and a 200 day moving average price of $73.79.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Thursday, October 13th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.01. The business had revenue of $557.90 million for the quarter, compared to analysts’ expectations of $592.65 million. First Republic Bank had a return on equity of 12.95% and a net margin of 27.68%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share.

A number of hedge funds and other institutional investors have recently bought and sold shares of FRC. Global X Management Co. LLC increased its position in First Republic Bank by 180.5% in the second quarter. Global X Management Co. LLC now owns 1,798 shares of the company’s stock worth $126,000 after buying an additional 1,157 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of First Republic Bank by 4,565.5% in the third quarter. Tower Research Capital LLC TRC now owns 2,566 shares of the company’s stock valued at $197,000 after buying an additional 2,511 shares during the period. National Asset Management Inc. bought a new stake in shares of First Republic Bank during the third quarter valued at approximately $203,000. Capstone Asset Management Co. bought a new stake in shares of First Republic Bank during the third quarter valued at approximately $204,000. Finally, Raymond James Trust N.A. bought a new stake in shares of First Republic Bank during the second quarter valued at approximately $208,000. 99.31% of the stock is currently owned by institutional investors and hedge funds.

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The company also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Thursday, October 27th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Tuesday, October 25th. First Republic Bank’s dividend payout ratio (DPR) is currently 17.34%.

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.

5 Day Chart for NYSE:FRC

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