Chartwell Investment Partners LLC reduced its stake in shares of First Republic Bank (NYSE:FRC) by 20.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,160 shares of the bank’s stock after selling 16,860 shares during the period. Chartwell Investment Partners LLC’s holdings in First Republic Bank were worth $5,559,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of FRC. Cerebellum GP LLC purchased a new position in shares of First Republic Bank during the 4th quarter valued at about $127,000. Zions Bancorporation purchased a new position in shares of First Republic Bank during the 3rd quarter valued at about $160,000. Intrust Bank NA purchased a new position in shares of First Republic Bank during the 4th quarter valued at about $203,000. Mawer Investment Management Ltd. purchased a new position in shares of First Republic Bank during the 3rd quarter valued at about $209,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of First Republic Bank during the 3rd quarter valued at about $209,000. 98.77% of the stock is currently owned by hedge funds and other institutional investors.
First Republic Bank (NYSE FRC) opened at $95.52 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.46. First Republic Bank has a twelve month low of $84.56 and a twelve month high of $105.52. The company has a market capitalization of $14,994.76, a P/E ratio of 22.16, a P/E/G ratio of 1.58 and a beta of 0.91.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.05). First Republic Bank had a return on equity of 11.80% and a net margin of 26.02%. The business had revenue of $699.20 million during the quarter, compared to analysts’ expectations of $688.48 million. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. analysts anticipate that First Republic Bank will post 4.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 8th. Investors of record on Thursday, January 25th were issued a $0.17 dividend. The ex-dividend date of this dividend 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 is presently 15.78%.
A number of research analysts have recently weighed in 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 set a $106.00 price objective on shares of First Republic Bank in a research report on Thursday, December 14th. Jefferies Group cut 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 set 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 assigned a hold rating and three have given a buy rating to the stock. First Republic Bank currently has a consensus rating of “Hold” and a consensus price target of $101.54.
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First Republic Bank Company 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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