First Republic Bank: 3Q Earnings Snapshot
SAN FRANCISCO (AP) _ First Republic Bank (FRC) on Tuesday reported third-quarter net income of $234.8 million.
The bank, based in San Francisco, said it had earnings of $1.31 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The San Francisco bank posted revenue of $1.05 billion in the period. Its revenue net of interest expense was $837.2 million, also beating Street forecasts. Five analysts surveyed by Zacks expected $830.6 million.
First Republic Bank shares have risen 12% since the beginning of the year. The stock has increased almost 5% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRC at https://www.zacks.com/ap/FRC