First Republic Bank closed the most recent trading day at $13.88, moving -1.84% from the previous trading session. This change lagged the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq lost 2.87%.
Heading into today, shares of the San Francisco bank had gained 6.08% over the past month, lagging the Finance sector's gain of 7.16% and the S&P 500's gain of 6.22% in that time.
Investors will be hoping for strength from First Republic Bank as it approaches its next earnings release, which is expected to be April 24, 2023. In that report, analysts expect First Republic Bank to post earnings of $0.72 per share. This would mark a year-over-year decline of 64%. Our most recent consensus estimate is calling for quarterly revenue of $1.13 billion, down 18.88% from the year-ago period.
FRC's full-year Zacks Consensus Estimates are calling for earnings of $0.05 per share and revenue of $3.4 billion. These results would represent year-over-year changes of -99.39% and -42%, respectively.
It is also important to note the recent changes to analyst estimates for First Republic Bank. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 99.11% lower. First Republic Bank is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that First Republic Bank has a Forward P/E ratio of 314.22 right now. For comparison, its industry has an average Forward P/E of 6.92, which means First Republic Bank is trading at a premium to the group.
The Banks - West industry is part of the Finance sector. This group has a Zacks Industry Rank of 243, putting it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FRC in the coming trading sessions, be sure to utilize Zacks.com.
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First Republic Bank (FRC) Dips More Than Broader Markets: What You Should Know
First Republic Bank closed the most recent trading day at $13.88, moving -1.84% from the previous trading session. This change lagged the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq lost 2.87%.
Heading into today, shares of the San Francisco bank had gained 6.08% over the past month, lagging the Finance sector's gain of 7.16% and the S&P 500's gain of 6.22% in that time.
Investors will be hoping for strength from First Republic Bank as it approaches its next earnings release, which is expected to be April 24, 2023. In that report, analysts expect First Republic Bank to post earnings of $0.72 per share. This would mark a year-over-year decline of 64%. Our most recent consensus estimate is calling for quarterly revenue of $1.13 billion, down 18.88% from the year-ago period.
FRC's full-year Zacks Consensus Estimates are calling for earnings of $0.05 per share and revenue of $3.4 billion. These results would represent year-over-year changes of -99.39% and -42%, respectively.
It is also important to note the recent changes to analyst estimates for First Republic Bank. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 99.11% lower. First Republic Bank is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that First Republic Bank has a Forward P/E ratio of 314.22 right now. For comparison, its industry has an average Forward P/E of 6.92, which means First Republic Bank is trading at a premium to the group.
The Banks - West industry is part of the Finance sector. This group has a Zacks Industry Rank of 243, putting it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow FRC in the coming trading sessions, be sure to utilize Zacks.com.