Last $52.08 USD
Change Today +0.01 / 0.02%
Volume 1.1M
As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

first republic bank/ca (FRC) Snapshot

Open
$52.49
Previous Close
$52.07
Day High
$52.49
Day Low
$51.65
52 Week High
03/21/14 - $56.18
52 Week Low
04/22/13 - $36.54
Market Cap
7.1B
Average Volume 10 Days
1.3M
EPS TTM
$3.00
Shares Outstanding
136.9M
EX-Date
04/29/14
P/E TM
17.4x
Dividend
$0.56
Dividend Yield
0.92%
Current Stock Chart for FIRST REPUBLIC BANK/CA (FRC)

first republic bank/ca (FRC) Related Bloomberg News

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first republic bank/ca (FRC) Details

First Republic Bank, together with its subsidiaries, provides personalized, relationship-based preferred banking, preferred business banking, real estate lending, trust, 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. It also provides a range of lending products that comprise residential mortgage loans and lines of credit, multifamily loans, commercial real estate loans, residential construction loans, small business loans, personal loans, business loans, and Eagle One loans and lines of credit. The company’s loans are secured by single family residences, multifamily buildings, and commercial real estate properties. In addition, it provides wealth management services, which include various investment strategies and products, trust and custody services, full service and online brokerage, financial and estate planning, access to alternative investments, investing, insurance, and foreign exchange. As of December 31, 2013, the company offered its services through 73 offices, including 66 preferred banking licensed deposit-taking offices in metropolitan areas comprising San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, New York City, Boston, and Portland; and 7 offices that provided lending, wealth management, and trust services. First Republic Bank was founded in 1985 and is headquartered in San Francisco, California.

2,388 Employees
Last Reported Date: 03/2/14
Founded in 1985

first republic bank/ca (FRC) Top Compensated Officers

Co-Founder, Chairman, Chief Executive Officer...
Total Annual Compensation: $750.0K
President, Executive Director, Member of Inve...
Total Annual Compensation: $750.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $1.3M
Chief Operating Officer
Total Annual Compensation: $907.7K
Chief Credit Officer and Executive Vice Presi...
Total Annual Compensation: $670.0K
Compensation as of Fiscal Year 2012.

first republic bank/ca (FRC) Key Developments

First Republic Bank Reports Earnings Results for the First Quarter of 2014; Provides Tax Rate Guidance for the Year 2014

First Republic Bank reported earnings results for the first quarter of 2014. For the quarter, the company reported book value per common was $26.21, up 14% over the year. Core earnings per share were up about 8% year over year. core revenues were up 5% over the prior quarter and 8% year-over-year. For the year 2014, the effective tax rate is expected to be approximately 27%, which is down from 30.4% in 2013. This is primarily driven by the level of tax-advantaged investing done over the last few years.

First Republic Bank Announces First Quarterly Cash Dividend Payable on May 15, 2014

First Republic Bank announced an increase in its quarterly cash dividend for the first quarter to $0.14 per share of common stock, which is payable on May 15, 2014 to shareholders of record as of May 1, 2014.

First Republic Bank Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reports Net Loan Charge-Offs for the Fourth Quarter of 2013

First Republic Bank reported consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported net interest income of $314,824,000, income before provision for income taxes of $162,280,000, net income of $115,299,000 and net income available to common shareholders of $102,499,000 or $0.75 per diluted share compared to net interest income of $302,334,000, income before provision for income taxes of $163,351,000, net income of $109,589,000 and net income available to common shareholders of $103,055,000 or $0.76 per diluted share for the same period last year period. Non-GAAP net income was $103,299,000 against $88,796,000 for the same period last year. Non-GAAP net income available to common shareholders was $90,499,000 or $0.66 per diluted share against $82,262,000 or $0.61 per diluted share for the same period last year. Non-GAAP net interest income was $289,666,000 against $261,246,000 for the same period last year. Total revenue was $371,024,000 compared with $357,945,000 for the same period last year. Non-GAAP total revenue was $345,866,000 against $316,857,000 for the same period last year. For the full year, the company reported net interest income of $1,224,175,000, income before provision for income taxes of $663,559,000, net income of $462,070,000 and net income available to common shareholders of $421,399,000 or $3.10 per diluted share compared to net interest income of $1,173,020,000, income before provision for income taxes of $601,347,000, net income of $401,164,000 and net income available to common shareholders of $369,221,000 or $2.75 per diluted share for the same period last year period. Book value per common share was $24.63 at December 31, 2013, up 11.4% from for the same period last year. Non-GAAP net income was $401,427,000 against $305,724,000 for the same period last year. Non-GAAP net income available to common shareholders was $360,756,000 or $2.65 per diluted share against $286,981,000 or $2.14 per diluted share for the same period last year. Non-GAAP net interest income was $1,100,596,000 against $986,821,000 for the same period last year. Total revenue was $1,468,525,000 against $1,341,754,000 for the same period last year. Non-GAAP total revenue was $1,344,946,000 against $1,155,300,000 for the same period last year. Book value per common share was $24.63 compared to $24.13 as at September 30, 2013. Tangible book value per common share was $22.83 compared to $22.27 as at September 30, 2013. The company reported net loan charge-offs to allowance for loan losses for the quarter was $722,000 against $315,000 for the same period last year.

 

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Industry Analysis

FRC

Industry Average

Valuation FRC Industry Range
Price/Earnings 17.4x
Price/Sales 4.8x
Price/Book -- Not Meaningful
Price/Cash Flow 14.8x
TEV/Sales NM Not Meaningful
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