Mn Services Vermogensbeheer B.V. increased its position in First Republic Bank (NYSE:FRC) by 1.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 89,879 shares of the bank’s stock after purchasing an additional 1,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in First Republic Bank were worth $9,029,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. Montag & Caldwell LLC lifted its position in shares of First Republic Bank by 4.2% in the first quarter. Montag & Caldwell LLC now owns 2,487 shares of the bank’s stock worth $250,000 after buying an additional 100 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in First Republic Bank by 2.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,023 shares of the bank’s stock worth $350,000 after acquiring an additional 103 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in First Republic Bank by 2.2% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 5,875 shares of the bank’s stock worth $511,000 after acquiring an additional 125 shares during the last quarter. Wetherby Asset Management Inc. increased its stake in First Republic Bank by 4.9% during the fourth quarter. Wetherby Asset Management Inc. now owns 2,663 shares of the bank’s stock worth $231,000 after acquiring an additional 125 shares during the last quarter. Finally, Securian Asset Management Inc increased its stake in First Republic Bank by 0.8% during the first quarter. Securian Asset Management Inc now owns 17,142 shares of the bank’s stock worth $1,722,000 after acquiring an additional 132 shares during the last quarter.
Several brokerages have weighed in on FRC. BMO Capital Markets reduced their price objective on First Republic Bank from $111.00 to $106.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. Maxim Group reissued a “buy” rating and set a $115.00 price objective (up from $110.00) on shares of First Republic Bank in a research note on Friday, April 12th. Wells Fargo & Co boosted their price objective on First Republic Bank from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Stephens reissued a “buy” rating and set a $115.00 price objective on shares of First Republic Bank in a research note on Thursday, March 21st. Finally, ValuEngine cut First Republic Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. First Republic Bank currently has a consensus rating of “Hold” and a consensus target price of $104.54.
FRC opened at $100.27 on Wednesday. The company has a market cap of $15.59 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 1.66 and a beta of 0.92. First Republic Bank has a one year low of $79.42 and a one year high of $107.75. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.19.
First Republic Bank (NYSE:FRC) last released its earnings results on Friday, April 12th. The bank reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.04. The firm had revenue of $807.36 million for the quarter, compared to analysts’ expectations of $813.99 million. First Republic Bank had a return on equity of 11.56% and a net margin of 23.61%. During the same quarter in the prior year, the firm posted $1.13 earnings per share. As a group, equities research analysts predict that First Republic Bank will post 5.28 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Thursday, April 25th were paid a dividend of $0.19 per share. This is a boost from First Republic Bank’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, April 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.76%. First Republic Bank’s dividend payout ratio is currently 15.80%.
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About First Republic Bank
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 in 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, passbook deposits, and individual retirement accounts, as well as certificates of deposit.
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