AGF Investments Inc. raised its holdings in First Republic Bank (NYSE:FRC) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,412 shares of the bank’s stock after purchasing an additional 12,679 shares during the quarter. AGF Investments Inc. owned approximately 0.10% of First Republic Bank worth $15,134,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. YorkBridge Wealth Partners LLC raised its position in First Republic Bank by 3,865.5% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 1,150 shares of the bank’s stock valued at $101,000 after purchasing an additional 1,121 shares during the last quarter. Cerebellum GP LLC bought a new position in First Republic Bank in the 4th quarter valued at $127,000. Whittier Trust Co. of Nevada Inc. raised its position in First Republic Bank by 58.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,286 shares of the bank’s stock valued at $212,000 after purchasing an additional 844 shares during the last quarter. Intrust Bank NA bought a new position in First Republic Bank in the 4th quarter valued at $203,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in First Republic Bank in the 4th quarter valued at $252,000.
Shares of First Republic Bank opened at $97.55 on Friday, MarketBeat reports. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.96 and a current ratio of 0.97. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.58 and a beta of 0.83.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Friday, April 13th. The bank reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.07. First Republic Bank had a return on equity of 11.76% and a net margin of 25.33%. The business had revenue of $720.90 million during the quarter, compared to analysts’ expectations of $732.68 million. During the same period in the previous year, the firm earned $1.01 earnings per share. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. analysts anticipate that First Republic Bank will post 4.8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 10th. Investors of record on Thursday, April 26th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, April 25th. This is a boost from First Republic Bank’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.74%. First Republic Bank’s payout ratio is 16.71%.
Several equities research analysts have recently commented on FRC shares. Jefferies Group reissued a “hold” rating and issued a $88.00 target price on shares of First Republic Bank in a research note on Wednesday, April 18th. Royal Bank of Canada reissued a “hold” rating and issued a $96.00 target price on shares of First Republic Bank in a research note on Friday, April 13th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $94.00 target price on shares of First Republic Bank in a research note on Thursday, April 5th. UBS started coverage on First Republic Bank in a research note on Wednesday, March 21st. They issued a “neutral” rating and a $100.00 target price for the company. Finally, Zacks Investment Research raised First Republic Bank from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $100.77.
First Republic Bank Company Profile
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 of 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, and passbook deposits, as well as certificates of deposit.
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