Zacks: Analysts Expect First Republic Bank (NYSE: FRC) to Post $ 1.91 Per Share Profit
Wall Street analysts expect First Republic Bank (NYSE: FRC) to report earnings per share (EPS) of $ 1.91 for the current fiscal quarter, Zacks reports. Four analysts provided earnings estimates for First Republic Bank, with the lowest EPS estimate being $ 1.83 and the highest estimate being $ 1.95. First Republic Bank posted earnings per share of $ 1.60 in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.4%. The company is expected to release its next quarterly results before the market opens on Friday, January 14.
According to Zacks, analysts expect First Republic Bank to report annual profit of $ 7.56 per share for the current year, with EPS estimates ranging from $ 7.48 to $ 7.60. For the next fiscal year, analysts expect the company to report earnings of $ 8.04 per share, with EPS estimates ranging from $ 7.90 to $ 8.32. Zacks Investment Research’s EPS averages are an average based on a survey of seller-side research analysts who follow First Republic Bank.
First Republic Bank (NYSE: FRC) last reported its results on Wednesday, October 13. The bank reported earnings per share (EPS) of $ 1.91 for the quarter, beating the consensus estimate of $ 1.84 by $ 0.07. The company posted revenue of $ 1.30 billion for the quarter, compared to analysts’ expectations of $ 1.27 billion. First Republic Bank had a net margin of 27.09% and a return on equity of 12.47%. In the same quarter of the previous year, the company posted EPS of $ 1.61.
A number of equity analysts have commented on FRC stocks. Barclays raised its price target for First Republic Bank shares from $ 215.00 to $ 223.00 and gave the stock an “equal weight” rating in a research note on Monday. Royal Bank of Canada increased its price target on First Republic Bank from $ 208.00 to $ 212.00 and gave the stock a “sector performance” rating in a research report released Thursday, October 14. Morgan Stanley raised its price target on First Republic Bank from $ 215.00 to $ 225.00 and gave the company an “equal weight” rating in a research report published on Monday, December 6. Finally, JPMorgan Chase & Co. raised its price target on First Republic Bank from $ 240.00 to $ 250.00 and rated the stock “overweight” in a report released on Wednesday, December 15th. Two financial analysts assigned a sell rating to the stock, five assigned a conservation rating and four assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $ 206.83.
NYSE: FRC opened at $ 202.62 on Wednesday. First Republic Bank has a one-year low of $ 143.60 and a one-year high of $ 222.86. The stock has a market cap of $ 35.72 billion, a PE ratio of 27.95, a P / E / G ratio of 1.66, and a beta of 1.10. The company has a debt ratio of 0.80, a rapid ratio of 0.96, and a current ratio of 0.96. The stock has a 50-day moving average price of $ 211.82 and a 200-day moving average price of $ 202.74.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 12. Shareholders of record on Thursday October 28 received a dividend of $ 0.22. This represents a dividend of $ 0.88 on an annualized basis and a return of 0.43%. The ex-dividend date of this dividend was Wednesday October 27. First Republic Bank’s dividend payout ratio is currently 12.14%.
Institutional investors have recently changed their holdings in the company. SouthState Corp acquired a new stake in First Republic Bank during the third quarter valued at approximately $ 29,000. RPg Family Wealth Advisory LLC purchased a new equity stake in First Republic Bank during the second quarter for a value of approximately $ 33,000. Clearstead Advisors LLC acquired a new equity interest in First Republic Bank during the second quarter valued at $ 40,000. Evoke Wealth LLC strengthened its position in First Republic Bank by 39.0% in the 3rd quarter. Evoke Wealth LLC now owns 214 shares of the bank valued at $ 41,000 after purchasing 60 more shares in the last quarter. Finally, Logan Capital Management Inc. increased its stake in First Republic Bank by 110.6% in the 3rd quarter. Logan Capital Management Inc. now owns 219 shares of the bank valued at $ 42,000 after purchasing an additional 115 shares during the period. 96.76% of the shares are currently held by institutional investors.
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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