AMP Capital Investors Ltd Has $10.15 Million Stake in First Republic Bank (FRC)

AMP Capital Investors Ltd lifted its holdings in shares of First Republic Bank (NYSE:FRC) by 2.5% during the third quarter, Holdings Channel reports. The fund owned 105,760 shares of the bank’s stock after purchasing an additional 2,617 shares during the quarter. AMP Capital Investors Ltd’s holdings in First Republic Bank were worth $10,151,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SRS Capital Advisors Inc. purchased a new stake in shares of First Republic Bank during the third quarter worth about $100,000. Capital Advisors Ltd. LLC purchased a new stake in shares of First Republic Bank during the third quarter worth about $156,000. Crossmark Global Holdings Inc. bought a new stake in First Republic Bank in the third quarter valued at about $201,000. Claraphi Advisory Network LLC bought a new stake in First Republic Bank in the third quarter valued at about $206,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in First Republic Bank in the third quarter valued at about $212,000.

FRC has been the subject of several research analyst reports. Royal Bank of Canada boosted their price objective on First Republic Bank to $102.00 and gave the company a “sector perform” rating in a report on Thursday, September 13th. They noted that the move was a valuation call. Piper Jaffray Companies reissued a “hold” rating and issued a $94.00 price objective on shares of First Republic Bank in a report on Tuesday, October 9th. Finally, Raymond James set a $104.00 price objective on First Republic Bank and gave the company a “buy” rating in a report on Monday, October 15th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $102.46.

Shares of First Republic Bank stock opened at $96.88 on Thursday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $15.64 billion, a P/E ratio of 22.48, a PEG ratio of 1.73 and a beta of 0.82. First Republic Bank has a fifty-two week low of $84.47 and a fifty-two week high of $106.75.

First Republic Bank (NYSE:FRC) last posted its earnings results on Friday, October 12th. The bank reported $1.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.01). The company had revenue of $768.83 million for the quarter, compared to the consensus estimate of $765.80 million. First Republic Bank had a net margin of 24.05% and a return on equity of 11.47%. During the same period last year, the company posted $1.14 earnings per share. Equities research analysts anticipate that First Republic Bank will post 4.75 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Thursday, October 25th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Wednesday, October 24th. First Republic Bank’s dividend payout ratio (DPR) is presently 16.71%.

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First Republic Bank 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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