News Review: First Republic Bank (NYSE: FRC)

SAN FRANCISCO, June 23, 2019 – Shares of First Republic Bank (NYSE: FRC) lost -0.55% to $95.43. The stock grabbed the investor’s attention and traded 1.348M shares as compared to its average daily volume of 1.07M shares.

First Republic Bank (FRC) recently declared financial results for the quarter ended March 31, 2019.

Income Statement and Key Ratios:

Strong Revenue Growth

Total revenues were $807.40M for the quarter, up 12.0% contrast to the first quarter a year ago.

Strong Net Interest Income Growth

Net interest income was $675.00M for the quarter, up 14.8% contrast to the first quarter a year ago. The increase in net interest income resulted mainly from growth in average earning assets. The net interest margin was 2.97% for the first quarter, contrast to 2.98% for the prior quarter.

Noninterest Income

Noninterest income was $132.30M for the quarter, slightly down contrast to the first quarter a year ago. The first quarter of 2018 included a $10.70M gain on sale of investment securities as part of a portfolio repositioning.

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Noninterest Expense

Noninterest expense was $524.80M for the quarter, up 13.7% contrast to the first quarter a year ago. The increase was mainly because of increased salaries and benefits, information systems and other expenses from the continued investments in the expansion of the franchise, partially offset by a decrease in FDIC assessments because of the elimination of an FDIC surcharge.

FRC has a market value of $16.08B while its EPS was booked as $4.93 in the last 12 months. The stock has 168.47M shares outstanding. In the profitability analysis, the company has net profit margin of 25.80%. Beta value of the company was 0.86; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.50.

Jack Dawkins

Finance and Tech Contributor