![]() The results are expected to be released on July 21. ![]() Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.Īnother stock from the same industry, Glacier Bancorp ( GBCI Quick Quote GBCI - Free Report), has yet to report results for the quarter ended June 2022. In terms of the Zacks Industry Rank, Banks - West is currently in the top 16% of the 250 plus Zacks industries. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. The current consensus EPS estimate is $2.16 on $1.52 billion in revenues for the coming quarter and $8.41 on $5.97 billion in revenues for the current fiscal year. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. So, the shares are expected to perform in line with the market in the near future. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. ![]() Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Īhead of this earnings release, the estimate revisions trend for First Republic Bank: mixed. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. While First Republic Bank has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.įirst Republic Bank shares have lost about 28.2% since the beginning of the year versus the S&P 500's decline of -20.2%. The company has topped consensus revenue estimates three times over the last four quarters. This compares to year-ago revenues of $1.23 billion. Over the last four quarters, the company has surpassed consensus EPS estimates four times.įirst Republic Bank, which belongs to the Zacks Banks - West industry, posted revenues of $1.51 billion for the quarter ended June 2022, surpassing the Zacks Consensus Estimate by 3.22%. A quarter ago, it was expected that this San Francisco bank would post earnings of $1.90 per share when it actually produced earnings of $2, delivering a surprise of 5.26%. This quarterly report represents an earnings surprise of 5.37%. These figures are adjusted for non-recurring items. This compares to earnings of $1.95 per share a year ago. ![]() Investment, Insurance and Advisory Products and Services, and Foreign Exchange Transactions, are Not FDIC Insured or Insured by Any Federal Government Agency, Not a Deposit, Not Bank Guaranteed and May Lose Value.First Republic Bank ( FRC Quick Quote FRC - Free Report) came out with quarterly earnings of $2.16 per share, beating the Zacks Consensus Estimate of $2.05 per share. Insurance services are provided through First Republic Securities Company, DBA Grand Eagle Insurance Services, LLC, CA Insurance License #0I13184, and First Republic Investment Management, DBA Eagle Private Insurance Services, CA Insurance License #0K93728. Brokerage services are offered through First Republic Securities Company, LLC, Member FINRA/ SIPC. Trust and Fiduciary services are offered through First Republic Trust Company, a division of First Republic Bank and First Republic Trust Company of Delaware LLC and First Republic Trust Company of Wyoming LLC, both wholly owned subsidiaries of First Republic Bank. Investment Advisory services are provided by First Republic Investment Management, Inc. Privacy | Security & Fraud Prevention | Accessibility | Terms & Conditionsį provides information to clients about their accounts and financial services by First Republic Bank and its affiliates.īanking products and services are offered by First Republic Bank, Member FDIC and Equal Housing Lender
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