First Trust Advisors LP cut its holdings in First Republic Bank (NYSE:FRC) by 24.2% in the 4th quarter, HoldingsChannel reports. The fund owned 332,480 shares of the bank’s stock after selling 106,429 shares during the period. First Trust Advisors LP’s holdings in First Republic Bank were worth $28,806,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of FRC. Harding Loevner LP raised its position in shares of First Republic Bank by 112.9% in the 3rd quarter. Harding Loevner LP now owns 4,734,746 shares of the bank’s stock worth $227,383,000 after acquiring an additional 2,510,888 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of First Republic Bank by 32.9% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,804,290 shares of the bank’s stock worth $292,936,000 after acquiring an additional 693,442 shares in the last quarter. Congress Asset Management Co. MA raised its position in shares of First Republic Bank by 704.9% in the 4th quarter. Congress Asset Management Co. MA now owns 712,479 shares of the bank’s stock worth $61,729,000 after acquiring an additional 623,957 shares in the last quarter. Atlantic Trust Group LLC bought a new position in shares of First Republic Bank in the 3rd quarter worth about $45,108,000. Finally, WCM Investment Management CA raised its position in shares of First Republic Bank by 79.2% in the 4th quarter. WCM Investment Management CA now owns 718,422 shares of the bank’s stock worth $62,244,000 after acquiring an additional 317,536 shares in the last quarter.
A number of analysts recently commented on the company. Zacks Investment Research raised First Republic Bank from a “sell” rating to a “hold” rating in a research report on Friday, December 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $106.00 target price on shares of First Republic Bank in a research report on Thursday, December 14th. Jefferies Group lowered First Republic Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $110.00 target price on shares of First Republic Bank in a research report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. First Republic Bank currently has a consensus rating of “Hold” and an average price target of $101.54.
Shares of First Republic Bank (FRC) opened at $95.61 on Thursday. The company has a market capitalization of $15,032.62, a PE ratio of 22.11, a P/E/G ratio of 1.58 and a beta of 0.91. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.94 and a quick ratio of 0.94. First Republic Bank has a 12-month low of $84.56 and a 12-month high of $105.52.
First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.05). The company had revenue of $699.20 million for the quarter, compared to analyst estimates of $688.48 million. First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. First Republic Bank’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. equities analysts anticipate that First Republic Bank will post 4.74 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 8th. Shareholders of record on Thursday, January 25th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, January 24th. This represents a $0.68 dividend on an annualized basis and a yield of 0.71%. First Republic Bank’s dividend payout ratio (DPR) is currently 15.78%.
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First Republic Bank Profile
First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.
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