First Republic Bank (NYSE:FRC) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in First Republic Bank (NYSE:FRC) by 10.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,485 shares of the bank’s stock after selling 11,137 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in First Republic Bank were worth $9,426,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC lifted its position in shares of First Republic Bank by 506.8% in the third quarter. CWM LLC now owns 267 shares of the bank’s stock valued at $26,000 after acquiring an additional 223 shares in the last quarter. Squar Milner Financial Services LLC lifted its position in shares of First Republic Bank by 409.1% in the third quarter. Squar Milner Financial Services LLC now owns 280 shares of the bank’s stock valued at $27,000 after acquiring an additional 225 shares in the last quarter. TRUE Private Wealth Advisors purchased a new position in shares of First Republic Bank in the second quarter valued at approximately $28,000. Prime Capital Investment Advisors LLC purchased a new position in shares of First Republic Bank in the third quarter valued at approximately $31,000. Finally, CSat Investment Advisory L.P. lifted its position in shares of First Republic Bank by 113.6% in the second quarter. CSat Investment Advisory L.P. now owns 361 shares of the bank’s stock valued at $35,000 after acquiring an additional 192 shares in the last quarter.

Several equities analysts have recently weighed in on the company. Bank of America raised their target price on First Republic Bank from $99.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Credit Suisse Group decreased their target price on First Republic Bank from $105.00 to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Royal Bank of Canada raised their target price on First Republic Bank to $105.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. BMO Capital Markets raised their target price on First Republic Bank from $97.00 to $103.00 and gave the company a “market perform” rating in a research report on Wednesday, October 16th. They noted that the move was a valuation call. Finally, Citigroup raised their target price on First Republic Bank from $111.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $106.33.

First Republic Bank stock traded down $0.56 during trading on Monday, reaching $109.66. 807,727 shares of the company were exchanged, compared to its average volume of 1,237,741. First Republic Bank has a 52-week low of $79.42 and a 52-week high of $111.67. The company has a market capitalization of $18.47 billion, a P/E ratio of 22.80, a PEG ratio of 3.71 and a beta of 0.90. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $101.18 and its two-hundred day simple moving average is $98.22.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Tuesday, October 15th. The bank reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.10. First Republic Bank had a return on equity of 11.23% and a net margin of 22.69%. The firm had revenue of $837.19 million for the quarter, compared to the consensus estimate of $830.60 million. During the same quarter last year, the business posted $1.19 earnings per share. As a group, equities analysts forecast that First Republic Bank will post 5.06 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $0.76 dividend on an annualized basis and a yield of 0.69%. First Republic Bank’s payout ratio is 15.80%.

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

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