First Republic Bank (NYSE:FRC) Posts Earnings Results, Beats Expectations By $0.08 EPS


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First Republic Bank (NYSE:FRC) released its quarterly earnings results on Wednesday. The bank reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.08, MarketWatch Earnings reports. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.04 billion. First Republic Bank had a return on equity of 10.96% and a net margin of 22.95%. The company’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.39 EPS.

FRC traded down $5.22 during trading hours on Friday, hitting $152.82. The stock had a trading volume of 23,735 shares, compared to its average volume of 1,254,964. The stock has a market cap of $26.31 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 3.27 and a beta of 1.06. First Republic Bank has a 1 year low of $70.06 and a 1 year high of $166.82. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.58. The company’s fifty day simple moving average is $140.61 and its 200 day simple moving average is $122.83.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 11th. Stockholders of record on Thursday, January 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. First Republic Bank’s dividend payout ratio is presently 15.38%.

A number of equities analysts have issued reports on FRC shares. Credit Suisse Group lifted their price target on First Republic Bank from $126.00 to $148.00 and gave the company an “underperform” rating in a research note on Friday. Barclays lifted their price target on First Republic Bank from $130.00 to $156.00 and gave the company an “equal weight” rating in a research note on Monday, January 4th. Wells Fargo & Company lifted their price target on First Republic Bank from $85.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, October 14th. They noted that the move was a valuation call. Piper Sandler started coverage on First Republic Bank in a research note on Thursday, September 17th. They set a “neutral” rating and a $115.00 price target for the company. Finally, Keefe, Bruyette & Woods lifted their price target on First Republic Bank from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, November 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $132.94.

First Republic Bank Company Profile

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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Earnings History for First Republic Bank (NYSE:FRC)

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