Trading Report: Today, Brokers Offer Predictions for First Republic Bank’s Q1 2017 Earnings (FRC)

Today, Brokers Offer Predictions for First Republic Bank’s Q1 2017 Earnings (FRC)

First Republic Bank (NYSE:FRC) – Investment analysts at FBR & Co upped their Q1 2017 EPS estimates for First Republic Bank in a note issued to investors on Friday. FBR & Co analyst P. Miller now expects that the brokerage will earn $1.02 per share for the quarter, up from their prior forecast of $1.00. FBR & Co currently has a “Mkt Perform” rating and a $80.00 target price on the stock. FBR & Co also issued estimates for First Republic Bank’s Q3 2017 earnings at $1.11 EPS, Q4 2017 earnings at $1.13 EPS and FY2017 earnings at $4.35 EPS.

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

Other research analysts have also recently issued reports about the company. Zacks Investment Research raised First Republic Bank from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Tuesday, July 19th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of First Republic Bank in a research report on Sunday, July 17th. Jefferies Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of First Republic Bank in a research report on Thursday, July 7th. Maxim Group upped their price objective on First Republic Bank from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays PLC set a $81.00 price objective on First Republic Bank and gave the stock a “buy” rating in a research report on Saturday. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.00.

Shares of First Republic Bank (NYSE:FRC) opened at 73.19 on Monday. The stock’s 50 day moving average price is $76.61 and its 200 day moving average price is $71.81. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 20.54 and a beta of 1.06. First Republic Bank has a one year low of $56.32 and a one year high of $79.15.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Thursday, October 27th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, October 25th. First Republic Bank’s dividend payout ratio is currently 17.34%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Global X Management Co. LLC raised its position in shares of 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 valued at $126,000 after buying an additional 1,157 shares in the last quarter. Springbok Capital Management LLC bought a new position in shares of First Republic Bank during the first quarter valued at about $190,000. Capstone Asset Management Co. bought a new position in shares of First Republic Bank during the third quarter valued at about $204,000. Raymond James Trust N.A. bought a new position in shares of First Republic Bank during the second quarter valued at about $208,000. Finally, Profund Advisors LLC bought a new position in shares of First Republic Bank during the second quarter valued at about $211,000. 98.21% of the stock is owned by institutional investors and hedge funds.

First Republic Bank Company Profile

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