FIRST REPUBLIC BANK (NYSE:FRC) is reporting second quarter financial results on Tuesday 14th July 2020, before market open.
According to analysts surveyed by Thomson Reuters, FRC is expected to report 2Q20 income of $ 1.17 per share from revenue of $ 912.52 million.
For the full year, analysts anticipate top line of $ 3758.57 million, while looking forward to income of $ 4.97 per share bottom line.
Previous Quarter Performance
FIRST REPUBLIC BANK reported income for the first quarter of $ 1.20 per share, from the revenue of $ 916.20 million. The quarterly earnings declined 4.76 percent while revenues boosted 12.53 percent compared with the same quarter last year.
According to street consensus, FRC was expected to report 1Q20 income of $ 1.02 per share from revenue of $ 872.54 million. The bottom line results topped street analysts by $ 0.18 or 17.65 percent, at the same time, top line results outshined analysts by $ 43.66 million or 5.00 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of FRC was $ 106.76, representing a 52.38 % increase from the 52 week low of $ 70.06 and a 14.67 % decrease over the 52 week high of $ 125.12.
The company has a market capital of $ 18.31 billion and is part of the Financial Services sector and Banks – Regional – US industry.
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Recent Analyst recommendations
On 18th June 2020, maintained by Citigroup at Neutral rating, with $ 111.00 target price.
On 8th June 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 115.00 target price.
On 1st June 2020, maintained by JPMorgan Chase & Co. at Overweight rating, with $ 130.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.20 per share on April 14, 2020. The dividend were payable on May 14, 2020 to holders of record as of the close of business on April 30, 2020 and ex-dividend date on April 29, 2020.
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 in 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, passbook deposits, and individual retirement accounts, as well as certificates of deposit.
