First Republic Bank (FRC) to Issue Dividend Increase – $0.19 Per Share

First Republic Bank (NYSE:FRC) declared a quarterly dividend on Monday, April 15th, Wall Street Journal reports. Stockholders of record on Thursday, April 25th will be given a dividend of 0.19 per share by the bank on Thursday, May 9th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Wednesday, April 24th. This is a boost from First Republic Bank’s previous quarterly dividend of $0.18.

First Republic Bank has raised its dividend payment by an average of 6.4% per year over the last three years and has raised its dividend every year for the last 6 years. First Republic Bank has a dividend payout ratio of 15.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Republic Bank to earn $5.97 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 12.7%.

Shares of NYSE:FRC traded down $0.17 during trading on Monday, reaching $101.63. The stock had a trading volume of 1,311,952 shares, compared to its average volume of 1,441,600. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.34. First Republic Bank has a 52 week low of $79.42 and a 52 week high of $106.75. The stock has a market capitalization of $15.94 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 1.55 and a beta of 0.92.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Friday, April 12th. The bank reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.04. First Republic Bank had a net margin of 23.88% and a return on equity of 11.62%. The firm had revenue of $807.36 million during the quarter, compared to analysts’ expectations of $813.99 million. During the same quarter in the previous year, the company posted $1.13 EPS. As a group, analysts forecast that First Republic Bank will post 5.34 EPS for the current fiscal year.

Several research analysts recently weighed in on FRC shares. BMO Capital Markets boosted their price objective on shares of First Republic Bank from $95.00 to $111.00 and gave the stock a “market perform” rating in a research report on Friday, March 15th. ValuEngine upgraded shares of First Republic Bank from a “hold” rating to a “buy” rating in a research report on Wednesday, January 16th. Robert W. Baird started coverage on shares of First Republic Bank in a research report on Thursday, December 20th. They issued a “neutral” rating and a $92.00 price objective for the company. Raymond James cut shares of First Republic Bank from an “outperform” rating to a “market perform” rating in a research report on Monday, January 7th. Finally, Atlantic Securities cut shares of First Republic Bank from an “overweight” rating to a “neutral” rating and set a $104.98 price objective for the company. in a research report on Friday, March 1st. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. First Republic Bank currently has a consensus rating of “Hold” and an average target price of $104.54.

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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 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.

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Dividend History for First Republic Bank (NYSE:FRC)

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