Standard Life Aberdeen plc grew its stake in First Republic Bank (NYSE:FRC) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,394,048 shares of the bank’s stock after acquiring an additional 503,111 shares during the quarter. Standard Life Aberdeen plc owned about 2.79% of First Republic Bank worth $380,633,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of First Republic Bank by 17.0% in the fourth quarter. BlackRock Inc. now owns 12,442,562 shares of the bank’s stock valued at $1,078,026,000 after acquiring an additional 1,804,494 shares in the last quarter. JPMorgan Chase & Co. increased its stake in First Republic Bank by 0.7% in the third quarter. JPMorgan Chase & Co. now owns 6,792,426 shares of the bank’s stock valued at $703,966,000 after purchasing an additional 46,862 shares during the last quarter. Harding Loevner LP increased its stake in First Republic Bank by 112.9% in the third quarter. Harding Loevner LP now owns 4,734,746 shares of the bank’s stock valued at $227,383,000 after purchasing an additional 2,510,888 shares during the last quarter. C WorldWide Group Holding A S increased its stake in First Republic Bank by 0.8% in the fourth quarter. C WorldWide Group Holding A S now owns 3,245,723 shares of the bank’s stock valued at $281,210,000 after purchasing an additional 24,802 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in First Republic Bank by 32.9% in the third quarter. Artisan Partners Limited Partnership now owns 2,804,290 shares of the bank’s stock valued at $292,936,000 after purchasing an additional 693,442 shares during the last quarter.
Several equities analysts recently commented on FRC shares. Maxim Group reiterated a “buy” rating and issued a $110.00 target price on shares of First Republic Bank in a research note on Thursday, January 4th. Morgan Stanley reiterated an “equal weight” rating and issued a $106.00 target price on shares of First Republic Bank in a research note on Thursday, December 14th. Barclays upped their target price on First Republic Bank from $98.00 to $101.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Jefferies Group lowered First Republic Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Finally, Zacks Investment Research upgraded First Republic Bank from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. First Republic Bank currently has a consensus rating of “Hold” and an average target price of $101.54.
Shares of First Republic Bank (NYSE:FRC) traded up $0.40 during trading hours on Wednesday, reaching $95.69. The company’s stock had a trading volume of 42,054 shares, compared to its average volume of 1,873,022. The firm has a market capitalization of $15,410.00, a price-to-earnings ratio of 22.11, a PEG 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 announced its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.05). The firm had revenue of $699.20 million for the quarter, compared to analyst estimates of $688.48 million. First Republic Bank had a return on equity of 11.80% and a net margin of 26.02%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. research analysts predict that First Republic Bank will post 4.74 EPS for the current year.
The company 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 annualized dividend and a yield of 0.71%. First Republic Bank’s dividend payout ratio is presently 15.78%.
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About First Republic Bank
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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