Jefferies Group Comments on First Republic Bank’s Q4 2017 Earnings (NYSE:FRC)

First Republic Bank (NYSE:FRC) – Analysts at Jefferies Group lowered their Q4 2017 EPS estimates for First Republic Bank in a note issued to investors on Monday, according to Zacks Investment Research. Jefferies Group analyst C. Haire now anticipates that the bank will post earnings per share of $1.17 for the quarter, down from their prior estimate of $1.28. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for First Republic Bank’s FY2018 earnings at $4.75 EPS and FY2019 earnings at $5.25 EPS.

A number of other brokerages have also commented on FRC. Sandler O’Neill restated a “hold” rating and set a $94.00 price objective on shares of First Republic Bank in a research report on Wednesday. Barclays set a $102.00 price objective on First Republic Bank and gave the stock a “hold” rating in a research report on Monday, October 16th. Keefe, Bruyette & Woods restated a “hold” rating and set a $87.00 price objective on shares of First Republic Bank in a research report on Friday, October 13th. Piper Jaffray Companies set a $99.00 price target on First Republic Bank and gave the company a “hold” rating in a report on Sunday, October 15th. Finally, Wells Fargo & Co reduced their price target on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Monday, October 16th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $102.40.

Shares of First Republic Bank (NYSE:FRC) opened at $87.30 on Wednesday. First Republic Bank has a 1 year low of $84.56 and a 1 year high of $105.52. The company has a market capitalization of $14,365.31, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.43 and a beta of 0.96. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.95.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.05). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The company had revenue of $699.20 million during the quarter, compared to analysts’ expectations of $688.48 million. During the same period in the prior year, the business posted $1.03 EPS. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in shares of First Republic Bank during the third quarter valued at approximately $160,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of First Republic Bank during the third quarter valued at approximately $209,000. Mawer Investment Management Ltd. bought a new stake in shares of First Republic Bank during the third quarter valued at approximately $209,000. Brookmont Capital Management bought a new stake in shares of First Republic Bank during the third quarter valued at approximately $210,000. Finally, Toronto Dominion Bank increased its position in shares of First Republic Bank by 8.9% during the second quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock valued at $212,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Thursday, January 25th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.78%. First Republic Bank’s dividend payout ratio is presently 16.04%.

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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.

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

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