FIRST REPUBLIC BANK (NYSE:FRC) declared a quarterly dividend on Friday, January 13th. Stockholders of record on Thursday, January 26th will be paid a dividend of 0.16 per share on Thursday, February 9th. This represents a $0.64 annualized dividend and a dividend yield of 0.70%.

FIRST REPUBLIC BANK (NYSE:FRC) opened at 91.85 on Friday. The stock has a 50 day moving average price of $89.02 and a 200 day moving average price of $78.13. The firm has a market capitalization of $13.79 billion, a P/E ratio of 24.55 and a beta of 0.98. FIRST REPUBLIC BANK has a one year low of $56.32 and a one year high of $93.59.

FIRST REPUBLIC BANK (NYSE:FRC) last issued its earnings results on Friday, January 13th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.02. FIRST REPUBLIC BANK had a net margin of 27.68% and a return on equity of 12.19%. The business earned $599.50 million during the quarter, compared to the consensus estimate of $623.91 million. During the same period last year, the business posted $0.84 EPS. FIRST REPUBLIC BANK’s revenue was up 21.1% on a year-over-year basis. On average, equities analysts predict that FIRST REPUBLIC BANK will post $3.90 EPS for the current fiscal year.

Dividend History for FIRST REPUBLIC BANK (NYSE:FRC)

ILLEGAL ACTIVITY NOTICE: “FIRST REPUBLIC BANK (FRC) Announces $0.16 Quarterly Dividend” was first published by Daily Political and is the propert of of Daily Political. If you are accessing this news story on another website, it was copied illegally and republished in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at http://www.dailypolitical.com/2017/01/13/first-republic-bank-frc-announces-0-16-quarterly-dividend.html.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its position in shares of FIRST REPUBLIC BANK by 1.4% in the second quarter. Franklin Resources Inc. now owns 3,904 shares of the company’s stock worth $273,000 after buying an additional 55 shares during the period. Sei Investments Co. boosted its position in shares of FIRST REPUBLIC BANK by 10.9% in the second quarter. Sei Investments Co. now owns 50,205 shares of the company’s stock worth $3,514,000 after buying an additional 4,921 shares during the period. Fifth Third Bancorp boosted its position in shares of FIRST REPUBLIC BANK by 11.1% in the second quarter. Fifth Third Bancorp now owns 7,432 shares of the company’s stock worth $520,000 after buying an additional 744 shares during the period. National Pension Service boosted its position in shares of FIRST REPUBLIC BANK by 62,865.8% in the second quarter. National Pension Service now owns 119,635 shares of the company’s stock worth $8,373,000 after buying an additional 119,445 shares during the period. Finally, AXA boosted its position in shares of FIRST REPUBLIC BANK by 1,283.1% in the second quarter. AXA now owns 163,307 shares of the company’s stock worth $11,430,000 after buying an additional 151,500 shares during the period. 96.27% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on FRC shares. Zacks Investment Research raised shares of FIRST REPUBLIC BANK from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a report on Wednesday. Wells Fargo & Company cut shares of FIRST REPUBLIC BANK from an “outperform” rating to a “market perform” rating in a report on Monday. FBR & Co raised shares of FIRST REPUBLIC BANK from a “market perform” rating to an “outperform” rating and increased their price target for the company from $85.00 to $100.00 in a report on Tuesday, December 20th. Maxim Group increased their price target on shares of FIRST REPUBLIC BANK from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, December 19th. Finally, Morgan Stanley cut shares of FIRST REPUBLIC BANK from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $77.00 to $85.00 in a report on Wednesday, November 16th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $84.55.

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.

5 Day Chart for NYSE:FRC

Receive News & Ratings for FIRST REPUBLIC BANK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FIRST REPUBLIC BANK and related companies with MarketBeat.com's FREE daily email newsletter.