First Republic Bank (FRC) Stake Lessened by Schroder Investment Management Group

Schroder Investment Management Group decreased its holdings in First Republic Bank (NYSE:FRC) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 245,043 shares of the bank’s stock after selling 11,550 shares during the quarter. Schroder Investment Management Group’s holdings in First Republic Bank were worth $23,923,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in FRC. Visionary Asset Management Inc. bought a new position in First Republic Bank during the second quarter valued at about $225,000. Gofen & Glossberg LLC IL bought a new position in First Republic Bank during the second quarter valued at about $265,000. Brookmont Capital Management boosted its stake in First Republic Bank by 31.7% during the second quarter. Brookmont Capital Management now owns 2,937 shares of the bank’s stock valued at $284,000 after buying an additional 707 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in First Republic Bank by 30.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,985 shares of the bank’s stock valued at $289,000 after buying an additional 699 shares in the last quarter. Finally, D.A. Davidson & CO. bought a new position in First Republic Bank during the second quarter valued at about $297,000.

Several research analysts recently weighed in on FRC shares. Royal Bank of Canada raised their target price on First Republic Bank to $102.00 and gave the company a “sector perform” rating in a research note on Thursday, September 13th. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a “hold” rating and set a $96.00 target price on shares of First Republic Bank in a research note on Monday, July 16th. Wedbush reaffirmed an “outperform” rating on shares of First Republic Bank in a research note on Friday, July 13th. BMO Capital Markets raised their target price on First Republic Bank from $96.00 to $102.00 and gave the company a “market perform” rating in a research note on Friday, July 13th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $94.00 target price on shares of First Republic Bank in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. First Republic Bank currently has a consensus rating of “Hold” and a consensus price target of $102.54.

Shares of NYSE FRC opened at $93.12 on Friday. First Republic Bank has a 12 month low of $84.56 and a 12 month high of $106.75. The firm has a market cap of $15.14 billion, a PE ratio of 21.60, a P/E/G ratio of 1.64 and a beta of 0.84. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99.

First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, October 12th. The bank reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). First Republic Bank had a net margin of 24.80% and a return on equity of 11.73%. During the same period in the previous year, the company earned $1.14 EPS. On average, research analysts anticipate that First Republic Bank will post 4.78 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Stockholders of record on Thursday, October 25th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.77%. First Republic Bank’s dividend payout ratio is 16.71%.

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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Institutional Ownership by Quarter for First Republic Bank (NYSE:FRC)

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