The First Republic Bank (FRC) Set to Announce Quarterly Earnings on Friday

Bruno Cirelli
Luglio 17, 2017

Private Advisor Group LLC now owns 20,187 shares of the bank's stock valued at $161,000 after buying an additional 5,750 shares during the period.

A number of brokerages have weighed in on FRC. Morgan Stanley decreased their price target on shares of First Republic Bank from $102.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 6th. BidaskClub raised shares of First Republic Bank from a "hold" rating to a "buy" rating in a research note on Saturday, July 1st.

On June 28 analysts at Wedbush issued its first research report on the stock with a rating of "Outperform". Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. The company now has an average rating of "Hold" and a consensus target price of $104.54. Additionally FIRST REPUBLIC BANK recently announced a dividend for shareholders which will be paid on Thursday the 10th of August 2017.

About 373,877 shares traded. The company has a market capitalization of $524.05 million, a price-to-earnings ratio of 76.67 and a beta of 1.05.

First Republic Bank, launched on October 15, 2009, is a commercial bank and trust company. The stock's 50 day moving average price is $96.01 and its 200 day moving average price is $93.89.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Thursday, April 13th. The bank reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.02 by $0.01. The value of the total investment in FIRST REPUBLIC BANK went from $32,617,000 to $33,603,000 a change of $986,000 quarter to quarter. The firm had revenue of $641.30 million for the quarter, compared to analysts' expectations of $671.27 million. During the same quarter in the previous year, the company earned $0.97 EPS. On average, analysts expect First Republic Bank to post $4.50 EPS for the current fiscal year and $5.38 EPS for the next fiscal year. The dividend payment will be $0.170 per share for the quarter or $0.68 on an annualized basis. The dividend yield will be $0.67. The ex-dividend date is set for Tuesday the 25th of April 2017. National Pension Service owned about 0.10% of FIRST REPUBLIC BANK worth $15,344,000 at the end of the most recent quarter.

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Want to see what other hedge funds are holding FRC? Finally, HRT Financial LLC acquired a new position in FIRST REPUBLIC BANK during the first quarter worth approximately $201,000. Finally, Basswood Capital Management L.L.C. boosted its stake in shares of Republic First Bancorp by 49.4% in the fourth quarter. Renaissance Technologies LLC boosted its stake in shares of Republic First Bancorp by 62.8% in the fourth quarter. Israel Discount Bank of NY acquired a new position in FIRST REPUBLIC BANK during the first quarter worth approximately $107,000. The institutional investor owned 152,590 shares of the bank's stock after buying an additional 13,283 shares during the period.

Other institutional investors have also bought and sold shares of the company. The company was maintained on Monday, December 5 by Deutsche Bank. 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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