Canada Pension Plan Investment Board grew its position in shares of First Republic Bank (NYSE:FRC) by 73.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,598 shares of the bank’s stock after buying an additional 1,100 shares during the quarter. Canada Pension Plan Investment Board’s holdings in First Republic Bank were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Westpac Banking Corp raised its position in First Republic Bank by 122.0% in the third quarter. Westpac Banking Corp now owns 65,428 shares of the bank’s stock worth $6,835,000 after acquiring an additional 35,959 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of First Republic Bank by 2.7% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 107,042 shares of the bank’s stock valued at $11,181,000 after purchasing an additional 2,851 shares during the period. Victory Capital Management Inc. raised its position in shares of First Republic Bank by 657.2% during the 3rd quarter. Victory Capital Management Inc. now owns 123,530 shares of the bank’s stock valued at $12,904,000 after purchasing an additional 107,217 shares during the period. Crossmark Global Holdings Inc. bought a new stake in shares of First Republic Bank during the 3rd quarter valued at $388,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of First Republic Bank by 8.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,020 shares of the bank’s stock valued at $1,569,000 after purchasing an additional 1,151 shares during the period. Hedge funds and other institutional investors own 99.14% of the company’s stock.
First Republic Bank (NYSE FRC) traded down $0.12 during trading hours on Thursday, reaching $92.79. 1,460,373 shares of the company’s stock traded hands, compared to its average volume of 990,185. The stock has a market cap of $14,797.56, a P/E ratio of 22.12, a PEG ratio of 1.75 and a beta of 0.96. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.95. First Republic Bank has a 12 month low of $87.65 and a 12 month high of $105.52.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.02). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The firm had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. During the same period last year, the company posted $1.00 earnings per share. The business’s quarterly revenue was up 20.1% on a year-over-year basis. research analysts anticipate that First Republic Bank will post 4.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Wednesday, October 25th. First Republic Bank’s dividend payout ratio is presently 16.04%.
A number of analysts have issued reports on the stock. Barclays downgraded shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $108.00 to $104.00 in a report on Tuesday, October 10th. Royal Bank Of Canada reissued a “hold” rating on shares of First Republic Bank in a research note on Friday, September 29th. Jefferies Group lifted their price objective on shares of First Republic Bank from $109.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $99.00 price target on shares of First Republic Bank in a research note on Friday, September 1st. Finally, Zacks Investment Research cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $102.93.
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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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