5 Stocks Making Headlines After Releasing Their Financial Results

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In this article, we discuss the 5 stocks making headlines after releasing their financial results. If you want to read our detailed analysis of these companies, go directly to the 11 Stocks Making Headlines After Releasing Their Financial Results.

5. First Republic Bank (NYSE:FRC)

Number of Hedge Fund Holders: 39

Shares of First Republic Bank (NYSE:FRC) rose nearly seven percent on Wednesday, April 13, 2022, after announcing a better-than-expected profit for the first quarter. The San Francisco-based bank reported earnings of $2 per share, up from $1.79 per share in the first quarter of 2021.

Revenue jumped 23 percent on a year-over-year basis to $1.4 billion. Analysts were expecting First Republic Bank (NYSE:FRC) to report earnings of $1.90 per share on revenue of $1.4 billion.

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Net interest income, a key growth indicator, increased to $1.15 billion, from $939 million in the same period last year. In addition, First Republic Bank (NYSE:FRC) reported that its total deposits jumped 26.7 percent to $162.1 billion, while loan originations rose 13.3 percent to $17.8 billion in the quarter.

Discussing the results, CEO Mike Roffler said:

“The entire business continued to perform very well in the first quarter. Loan originations were our best ever, client satisfaction reached an all-time high, and we successfully completed our core system conversion. It was a terrific quarter.”

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