First Republic Bank (NYSE:FRC) Position Trimmed by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its holdings in shares of First Republic Bank (NYSE:FRC) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,571 shares of the bank’s stock after selling 789 shares during the period. Janney Montgomery Scott LLC’s holdings in First Republic Bank were worth $1,862,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Ellevest Inc. increased its stake in First Republic Bank by 52.1% during the second quarter. Ellevest Inc. now owns 432 shares of the bank’s stock valued at $46,000 after purchasing an additional 148 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in First Republic Bank by 100.9% in the first quarter. Valeo Financial Advisors LLC now owns 436 shares of the bank’s stock worth $41,000 after purchasing an additional 219 shares during the period. Ameritas Investment Company LLC acquired a new stake in First Republic Bank in the first quarter worth about $46,000. Clean Yield Group acquired a new stake in First Republic Bank in the 1st quarter valued at about $51,000. Finally, Allred Capital Management LLC lifted its holdings in First Republic Bank by 24.4% in the 1st quarter. Allred Capital Management LLC now owns 688 shares of the bank’s stock valued at $57,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 97.73% of the company’s stock.

Several analysts have issued reports on the company. Morgan Stanley boosted their price objective on First Republic Bank from $100.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, June 8th. Maxim Group boosted their price objective on First Republic Bank from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. TheStreet upgraded First Republic Bank from a “c+” rating to a “b-” rating in a report on Tuesday, May 5th. Atlantic Securities upgraded First Republic Bank from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a report on Tuesday, May 5th. Finally, BMO Capital Markets restated a “hold” rating and set a $103.00 price objective on shares of First Republic Bank in a report on Friday, July 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. First Republic Bank has a consensus rating of “Hold” and an average target price of $114.41.

Shares of FRC opened at $112.48 on Friday. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of 21.22, a P/E/G ratio of 2.68 and a beta of 1.18. First Republic Bank has a fifty-two week low of $70.06 and a fifty-two week high of $125.12. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50-day moving average is $108.59 and its 200-day moving average is $104.58.

First Republic Bank (NYSE:FRC) last issued its earnings results on Tuesday, July 14th. The bank reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.23. The company had revenue of $943.40 million for the quarter, compared to the consensus estimate of $937.90 million. First Republic Bank had a return on equity of 10.68% and a net margin of 22.03%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 EPS. Equities research analysts expect that First Republic Bank will post 5.34 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, July 30th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, July 29th. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. First Republic Bank’s payout ratio is 15.38%.

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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