Ownership Capital B.V. raised its position in shares of First Republic Bank (NYSE:FRC) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,129,055 shares of the bank’s stock after acquiring an additional 8,976 shares during the period. First Republic Bank makes up about 6.7% of Ownership Capital B.V.’s investment portfolio, making the stock its 4th largest position. Ownership Capital B.V. owned 0.72% of First Republic Bank worth $108,389,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC bought a new position in shares of First Republic Bank in the third quarter worth about $156,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of First Republic Bank in the third quarter worth about $212,000. Visionary Asset Management Inc. bought a new position in shares of First Republic Bank in the second quarter worth about $225,000. Gofen & Glossberg LLC IL bought a new position in shares of First Republic Bank in the second quarter worth about $265,000. Finally, Brookmont Capital Management grew its holdings in shares of First Republic Bank by 31.7% in the second quarter. Brookmont Capital Management now owns 2,937 shares of the bank’s stock worth $284,000 after purchasing an additional 707 shares during the last quarter.
A number of research analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of First Republic Bank to $102.00 and gave the stock a “sector perform” rating in a report on Thursday, September 13th. They noted that the move was a valuation call. BMO Capital Markets upped their price objective on shares of First Republic Bank from $96.00 to $102.00 and gave the stock a “market perform” rating in a research note on Friday, July 13th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $96.00 price objective 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. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $94.00 price objective on shares of First Republic Bank in a research note on Tuesday, October 9th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. First Republic Bank currently has an average rating of “Hold” and a consensus target price of $102.46.
NYSE:FRC opened at $93.02 on Tuesday. First Republic Bank has a 1-year low of $84.47 and a 1-year high of $106.75. The stock has a market capitalization of $14.55 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 1.60 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.50.
First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Friday, October 12th. The bank reported $1.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.01). The business had revenue of $768.83 million during the quarter, compared to analysts’ expectations of $765.80 million. First Republic Bank had a return on equity of 11.47% and a net margin of 24.05%. During the same period last year, the company earned $1.14 earnings per share. Analysts predict that First Republic Bank will post 4.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Thursday, October 25th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Wednesday, October 24th. First Republic Bank’s payout ratio is 16.71%.
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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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