Vigilant Capital Management LLC raised its stake in shares of First Republic Bank (NYSE:FRC) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 156,993 shares of the bank’s stock after acquiring an additional 5,890 shares during the quarter. First Republic Bank accounts for 2.0% of Vigilant Capital Management LLC’s holdings, making the stock its 28th largest position. Vigilant Capital Management LLC’s holdings in First Republic Bank were worth $15,181,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of FRC. Nuveen Asset Management LLC increased its holdings in shares of First Republic Bank by 61,502.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,264,073 shares of the bank’s stock worth $123,437,000 after purchasing an additional 1,262,021 shares during the period. Swedbank bought a new stake in First Republic Bank in the second quarter valued at about $101,370,000. BlackRock Inc. increased its stake in First Republic Bank by 3.0% in the second quarter. BlackRock Inc. now owns 12,147,623 shares of the bank’s stock valued at $1,186,214,000 after acquiring an additional 350,766 shares during the period. Nomura Holdings Inc. bought a new stake in First Republic Bank in the second quarter valued at about $26,893,000. Finally, Natixis bought a new stake in First Republic Bank in the second quarter valued at about $24,274,000.
A number of research firms recently weighed in on FRC. Wedbush reissued an “outperform” rating on shares of First Republic Bank in a research note on Tuesday, July 16th. Maxim Group upped their target price on shares of First Republic Bank from $110.00 to $116.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Co cut shares of First Republic Bank from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $112.00 to $100.00 in a research note on Wednesday, October 2nd. They noted that the move was a valuation call. Citigroup upped their target price on shares of First Republic Bank from $111.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Credit Suisse Group lowered their target price on shares of First Republic Bank from $105.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $104.69.
NYSE:FRC traded up $0.49 on Thursday, reaching $103.57. The stock had a trading volume of 20,923 shares, compared to its average volume of 1,071,226. The company has a market capitalization of $16.34 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 3.78 and a beta of 0.89. First Republic Bank has a 1-year low of $79.42 and a 1-year high of $107.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.34. The stock has a fifty day moving average price of $93.95 and a 200-day moving average price of $97.72.
First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Tuesday, October 15th. The bank reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.10. The firm had revenue of $837.19 million for the quarter, compared to analyst estimates of $830.60 million. First Republic Bank had a net margin of 22.94% and a return on equity of 11.30%. During the same period in the previous year, the business earned $1.19 earnings per share. Sell-side analysts predict that First Republic Bank will post 4.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be given a $0.19 dividend. The ex-dividend date is Wednesday, October 30th. This represents a $0.76 dividend on an annualized basis and a yield of 0.73%. First Republic Bank’s dividend payout ratio (DPR) is presently 15.80%.
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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