First Republic Bank (NYSE:FRC) Publicized Third Quarter Earnings

[Capital Cube] First Republic Bank (NYSE:FRC)(TREND ANALYSIS) Revenues of USD 468.63 million, Net Earnings of USD 134.84 million, and Earnings per Share (EPS) of USD 0.82.

Net interest income margins widened from 76.26% to 84.81% compared to the same quarter last year.

Net loan assets changed 15.88% compared to same period last year and 3.37% from previous period, total deposits changed 24.53% compared to same period last year and 5.86% from previous period.

Earnings decline from worsening in operating margins as well as one-time items.

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First Republic Bank (NYSE:FRC) stock is currently trading 5.26% below its 52-week-high, 40.41% above its 52-week-low. The 1-year stock price history is in the range of $46.7 – $69.21. First Republic Bank (FRC) has a price to earnings ratio of 21.42 versus Financial sector average of 16.17. FRC stock price has outperformed the S&P 500 by 24.6%. The Financial Services company is currently valued at $9.34 billion and its share price closed the last trading session at $65.57. The stock has a 50-day moving average of $63.21 and a 200-day moving average of $62.04.

First Republic Bank (FRC) current short interest stands at 3.39 million shares. It has increased by 12% from the same period of last month. Around 3% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.74 million shares, the number of days required to cover the short positions stand at 4.6 days.

FRC reported last quarter earnings on October 15. The Financial Services company announced earnings per share of $0.82 against a consensus Street estimate of $0.81, beating the average estimate by $0.01. This corresponds to an increase of $0.05 compared to the same quarter of the previous fiscal year.

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There are currently twenty analysts that cover First Republic Bank stock. Of those twenty, six have a Buy rating, fourteen have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $66.12.

A recent analyst activity consisted of Keefe Bruyette& Woods reiterating their Market Perform stance on October 20. Keefe Bruyette& Woods increased their price target on FRC from $64 to $68. This corresponds to a 3.71% upside from the last closing price. On the date of report, the stock closed at $64.54.

Barclays reiterated their Overweight stance on October 9, and decreased their price target from $72 to $68. This corresponds to a 3.71% upside from the last closing price. On the date of report, the stock closed at $64.08.

Another research firm was FBR Capital who downgraded their Outperform rating to Market Perform on July 17. On the date of report, the stock closed at $63.53.

Company Snapshot

First Republic Bank and its subsidiaries provide private banking, private business banking and private wealth management in urban, coastal markets in the U.S. First Republic delivers relationship-based service by providing a single point of contact for all of its services.

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