FIRST REPUBLIC BANK (FRC) to Post FY2018 Earnings of $5.00 Per Share, Jefferies Group Forecasts

FIRST REPUBLIC BANK (NYSE:FRC) – Jefferies Group increased their FY2018 earnings per share estimates for FIRST REPUBLIC BANK in a research note issued to investors on Monday. Jefferies Group analyst C. Haire now anticipates that the firm will post earnings per share of $5.00 for the year, up from their prior forecast of $4.90. Jefferies Group has a “Buy” rating and a $85.00 price target on the stock.

FIRST REPUBLIC BANK (NYSE:FRC) last issued its earnings results on Thursday, October 13th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.99 by $0.01. FIRST REPUBLIC BANK had a net margin of 27.68% and a return on equity of 12.19%. The company had revenue of $557.90 million for the quarter, compared to the consensus estimate of $592.65 million. During the same period in the previous year, the firm earned $0.79 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis.

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Earnings History and Estimates for FIRST REPUBLIC BANK (NYSE:FRC)

FRC has been the subject of several other reports. Zacks Investment Research upgraded FIRST REPUBLIC BANK from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research note on Wednesday, November 16th. FBR & Co upgraded FIRST REPUBLIC BANK from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $85.00 to $100.00 in a research note on Tuesday, December 20th. Maxim Group upped their price target on FIRST REPUBLIC BANK from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. Morgan Stanley downgraded FIRST REPUBLIC BANK from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $77.00 to $85.00 in a research note on Wednesday, November 16th. They noted that the move was a valuation call. Finally, Wells Fargo & Company downgraded FIRST REPUBLIC BANK from an “outperform” rating to a “market perform” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. FIRST REPUBLIC BANK currently has an average rating of “Buy” and an average price target of $84.55.

Shares of FIRST REPUBLIC BANK (NYSE:FRC) traded down 0.081% on Wednesday, hitting $92.225. 1,552,565 shares of the company traded hands. FIRST REPUBLIC BANK has a 1-year low of $56.32 and a 1-year high of $93.59. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 24.646 and a beta of 0.98. The firm’s 50 day moving average price is $88.42 and its 200-day moving average price is $77.93.

A number of hedge funds have recently added to or reduced their stakes in FRC. Tower Research Capital LLC TRC raised its stake in 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 worth $197,000 after buying an additional 2,511 shares during the last quarter. National Asset Management Inc. acquired a new stake in FIRST REPUBLIC BANK during the third quarter worth $203,000. Capstone Asset Management Co. acquired a new stake in FIRST REPUBLIC BANK during the third quarter worth $204,000. 1st Global Advisors Inc. acquired a new stake in FIRST REPUBLIC BANK during the third quarter worth $209,000. Finally, Profund Advisors LLC acquired a new stake in FIRST REPUBLIC BANK during the second quarter worth $211,000. Institutional investors and hedge funds own 96.27% of the company’s stock.

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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.

5 Day Chart for NYSE:FRC

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