Squar Milner Financial Services LLC lifted its holdings in First Republic Bank (NYSE:FRC) by 185.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 800 shares of the bank’s stock after purchasing an additional 520 shares during the quarter. Squar Milner Financial Services LLC’s holdings in First Republic Bank were worth $93,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. CWM LLC grew its stake in shares of First Republic Bank by 506.8% in the third quarter. CWM LLC now owns 267 shares of the bank’s stock worth $26,000 after purchasing an additional 223 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of First Republic Bank during the third quarter valued at $31,000. CSat Investment Advisory L.P. lifted its holdings in shares of First Republic Bank by 113.6% during the second quarter. CSat Investment Advisory L.P. now owns 361 shares of the bank’s stock valued at $35,000 after purchasing an additional 192 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in shares of First Republic Bank by 59.9% during the third quarter. Penserra Capital Management LLC now owns 550 shares of the bank’s stock valued at $52,000 after purchasing an additional 206 shares during the last quarter. Finally, Allred Capital Management LLC purchased a new stake in shares of First Republic Bank during the fourth quarter valued at $65,000.
Several brokerages have recently commented on FRC. Wells Fargo & Co downgraded First Republic Bank from an “equal weight” rating to an “underweight” rating and set a $100.00 target price for the company. in a report on Monday, January 6th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “market perform” rating and set a $119.00 target price on shares of First Republic Bank in a report on Wednesday, January 15th. They noted that the move was a valuation call. UBS Group upped their target price on First Republic Bank from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Citigroup upped their target price on First Republic Bank from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Finally, Piper Sandler upped their target price on First Republic Bank from $119.00 to $126.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. First Republic Bank currently has a consensus rating of “Hold” and an average price target of $115.27.
Shares of First Republic Bank stock opened at $117.34 on Thursday. The stock has a 50-day moving average price of $116.16 and a 200 day moving average price of $103.38. The company has a market cap of $19.73 billion, a P/E ratio of 22.57, a P/E/G ratio of 2.93 and a beta of 0.91. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55. First Republic Bank has a 1 year low of $87.43 and a 1 year high of $122.34.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Tuesday, January 14th. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.12. The firm had revenue of $877.50 million during the quarter, compared to the consensus estimate of $876.90 million. First Republic Bank had a return on equity of 11.08% and a net margin of 22.38%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 EPS. On average, equities analysts forecast that First Republic Bank will post 5.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Investors of record on Thursday, January 30th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, January 29th. First Republic Bank’s dividend payout ratio is currently 14.62%.
About First Republic Bank
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.
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