Have you been eager to see how First Republic Bank performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this San Francisco-based bank’s earnings release this morning:
An Earnings Beat
First Republic Bank came out with earnings per share of $1.29, surpassing the Zacks Consensus Estimate of $1.24. Improvement in earnings was primarily driven by higher revenues.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for First Republic Bank depicted pessimism prior to the earnings release. The Zacks Consensus Estimate was revised slightly downward over the last seven days.
Yet, First Republic Bank has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.44% in the trailing four quarters.
Revenue Came In Higher than Expected
First Republic Bank’s revenues of $810.8 million surpassed the Zacks Consensus Estimate of $790.3 million. Moreover, revenues increased 16% year over year.
Key Takeaways
- Loan originations stood at $8.4 billion, up 20% from the prior quarter.
- Wealth management revenues escalated 15.4% year over year.
- Efficiency ratio 61.5%.
- Wealth management assets were down 3.6% sequentially.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for First Republic Bank. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this First Republic Bank earnings report!
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First Republic Bank (FRC) Q4 Earnings Beat Estimates
Have you been eager to see how First Republic Bank performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this San Francisco-based bank’s earnings release this morning:
An Earnings Beat
First Republic Bank came out with earnings per share of $1.29, surpassing the Zacks Consensus Estimate of $1.24. Improvement in earnings was primarily driven by higher revenues.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for First Republic Bank depicted pessimism prior to the earnings release. The Zacks Consensus Estimate was revised slightly downward over the last seven days.
Yet, First Republic Bank has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.44% in the trailing four quarters.
First Republic Bank Price and EPS Surprise
First Republic Bank Price and EPS Surprise | First Republic Bank Quote
Revenue Came In Higher than Expected
First Republic Bank’s revenues of $810.8 million surpassed the Zacks Consensus Estimate of $790.3 million. Moreover, revenues increased 16% year over year.
Key Takeaways
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for First Republic Bank. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this First Republic Bank earnings report!
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>