First Republic Bank has raised its dividend by an average of 7.5% per year over the last three years and has raised its dividend every year for the last 5 years. First Republic Bank has a payout ratio of 15.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Republic Bank to earn $5.57 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 12.2%.
First Republic Bank (NYSE:FRC) declared a quarterly dividend on Monday, April 16th, Wall Street Journal reports. Stockholders of record on Thursday, April 26th will be paid a dividend of 0.18 per share by the bank on Thursday, May 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Wednesday, April 25th. This is a boost from First Republic Bank’s previous quarterly dividend of $0.17.
FRC opened at $96.60 on Wednesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.96 and a current ratio of 0.97. First Republic Bank has a twelve month low of $84.56 and a twelve month high of $105.52. The stock has a market capitalization of $15.13 billion, a PE ratio of 21.65, a PEG ratio of 1.57 and a beta of 0.83.
First Republic Bank (NYSE:FRC) last posted its earnings results on Friday, April 13th. The bank reported $1.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.07. First Republic Bank had a net margin of 25.33% and a return on equity of 11.76%. The business had revenue of $720.90 million for the quarter, compared to analyst estimates of $732.68 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. analysts expect that First Republic Bank will post 4.8 earnings per share for the current year.
Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of First Republic Bank in a report on Wednesday, January 17th. Sandler O’Neill reissued a “hold” rating and set a $94.00 price objective on shares of First Republic Bank in a report on Wednesday, January 17th. Jefferies Group reissued a “hold” rating and set a $88.00 price objective on shares of First Republic Bank in a report on Wednesday, April 18th. Barclays raised shares of First Republic Bank from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $93.00 to $110.00 in a report on Tuesday, March 6th. Finally, Zacks Investment Research raised shares of First Republic Bank from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. First Republic Bank has an average rating of “Hold” and a consensus target price of $100.77.
First Republic Bank Company Profile
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas of the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, and passbook deposits, as well as certificates of deposit.