The Q1 2017 EPS Estimates for FIRST REPUBLIC BANK Reduced by Analyst (FRC), Report finds

Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of FIRST REPUBLIC BANK from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Monday, November 7th. JMP Securities assumed coverage on shares of FIRST REPUBLIC BANK in a research report on Thursday, February 2nd. They issued an “outperform” rating and a $111.00 price target for the company. Maxim Group increased their price target on shares of FIRST REPUBLIC BANK from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, October 14th. Barclays PLC set a $81.00 price target on shares of FIRST REPUBLIC BANK and gave the stock a “buy” rating in a research report on Saturday, October 15th. Finally, Wells Fargo & Company lowered shares of FIRST REPUBLIC BANK from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $89.82.

FIRST REPUBLIC BANK (NYSE:FRC) – Equities research analysts at FIG Partners decreased their Q1 2017 earnings estimates for FIRST REPUBLIC BANK in a research note issued on Tuesday. FIG Partners analyst T. Coffey now forecasts that the firm will post earnings per share of $1.02 for the quarter, down from their previous estimate of $1.04. FIG Partners also issued estimates for FIRST REPUBLIC BANK’s Q2 2017 earnings at $1.13 EPS, Q3 2017 earnings at $1.23 EPS, Q4 2017 earnings at $1.31 EPS, Q1 2018 earnings at $1.33 EPS, Q3 2018 earnings at $1.45 EPS and Q4 2018 earnings at $1.55 EPS.

Shares of FIRST REPUBLIC BANK (NYSE:FRC) opened at 93.25 on Wednesday. The company’s 50-day moving average price is $92.92 and its 200 day moving average price is $81.34. The company has a market cap of $14.39 billion, a PE ratio of 23.73 and a beta of 1.03. FIRST REPUBLIC BANK has a one year low of $56.32 and a one year high of $95.95.

FIRST REPUBLIC BANK (NYSE:FRC) last announced its earnings results on Friday, January 13th. The company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. FIRST REPUBLIC BANK had a return on equity of 12.38% and a net margin of 27.98%. The firm had revenue of $599.50 million for the quarter, compared to analysts’ expectations of $623.91 million. During the same quarter in the previous year, the company earned $0.84 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 9th. Stockholders of record on Thursday, January 26th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, January 24th. This represents a $0.64 annualized dividend and a dividend yield of 0.69%. FIRST REPUBLIC BANK’s dividend payout ratio (DPR) is currently 16.49%.

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. boosted its position in shares of FIRST REPUBLIC BANK by 0.6% in the third quarter. Raymond James Trust N.A. now owns 2,984 shares of the company’s stock worth $230,000 after buying an additional 18 shares during the last quarter. Capital One National Association boosted its position in shares of FIRST REPUBLIC BANK by 0.4% in the third quarter. Capital One National Association now owns 13,882 shares of the company’s stock worth $1,070,000 after buying an additional 54 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of FIRST REPUBLIC BANK by 0.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,785 shares of the company’s stock worth $625,000 after buying an additional 56 shares during the last quarter. D L Carlson Investment Group Inc. boosted its position in shares of FIRST REPUBLIC BANK by 0.3% in the third quarter. D L Carlson Investment Group Inc. now owns 21,235 shares of the company’s stock worth $1,637,000 after buying an additional 65 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its position in shares of FIRST REPUBLIC BANK by 1.3% in the second quarter. Moody Lynn & Lieberson LLC now owns 7,246 shares of the company’s stock worth $507,000 after buying an additional 93 shares during the last quarter. 96.66% of the stock is currently owned by institutional investors and hedge funds.

About FIRST REPUBLIC BANK

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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