Davidson Investment Advisors decreased its holdings in shares of First Republic Bank (NYSE:FRC) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,855 shares of the bank’s stock after selling 1,068 shares during the period. Davidson Investment Advisors’ holdings in First Republic Bank were worth $6,485,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in FRC. Harding Loevner LP boosted its stake in shares of First Republic Bank by 112.9% during the third quarter. Harding Loevner LP now owns 4,734,746 shares of the bank’s stock worth $227,383,000 after buying an additional 2,510,888 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of First Republic Bank by 32.9% during the third quarter. Artisan Partners Limited Partnership now owns 2,804,290 shares of the bank’s stock worth $292,936,000 after buying an additional 693,442 shares during the period. Congress Asset Management Co. MA boosted its stake in shares of First Republic Bank by 704.9% during the fourth quarter. Congress Asset Management Co. MA now owns 712,479 shares of the bank’s stock worth $61,729,000 after buying an additional 623,957 shares during the period. Atlantic Trust Group LLC acquired a new stake in shares of First Republic Bank during the third quarter worth about $45,108,000. Finally, WCM Investment Management CA boosted its stake in shares of First Republic Bank by 79.2% during the fourth quarter. WCM Investment Management CA now owns 718,422 shares of the bank’s stock worth $62,244,000 after buying an additional 317,536 shares during the period. Institutional investors and hedge funds own 98.77% of the company’s stock.
Shares of First Republic Bank (NYSE FRC) opened at $91.17 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $14,288.01, a PE ratio of 21.01, a P/E/G ratio of 1.50 and a beta of 0.91. 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 announced its quarterly earnings data on Tuesday, January 16th. The bank reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.05). The firm had revenue of $699.20 million during 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 in the previous year, the business earned $1.03 EPS. equities analysts forecast that First Republic Bank will post 4.74 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 8th. Stockholders of record on Thursday, January 25th were given 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 dividend yield of 0.75%. First Republic Bank’s payout ratio is 15.78%.
Several brokerages have recently weighed in on FRC. Zacks Investment Research downgraded shares of First Republic Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Keefe, Bruyette & Woods restated a “hold” rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Jefferies Group restated a “buy” rating and issued a $111.00 price objective on shares of First Republic Bank in a research report on Thursday, October 19th. Sandler O’Neill restated a “hold” rating and issued a $94.00 price objective on shares of First Republic Bank in a research report on Wednesday, January 17th. Finally, Maxim Group restated a “buy” rating and issued a $110.00 price objective on shares of First Republic Bank in a research report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $101.54.
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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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