WCM Investment Management CA lifted its stake in First Republic Bank (NYSE:FRC) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 400,886 shares of the bank’s stock after purchasing an additional 30,019 shares during the period. WCM Investment Management CA owned about 0.25% of First Republic Bank worth $41,877,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of FRC. Artisan Partners Limited Partnership bought a new position in shares of First Republic Bank in the second quarter worth about $211,296,000. State Street Corp lifted its stake in First Republic Bank by 20.3% in the second quarter. State Street Corp now owns 5,995,443 shares of the bank’s stock worth $600,135,000 after acquiring an additional 1,010,648 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in First Republic Bank by 154.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,600,977 shares of the bank’s stock worth $160,258,000 after acquiring an additional 971,514 shares during the period. BlackRock Inc. lifted its stake in First Republic Bank by 8.9% in the second quarter. BlackRock Inc. now owns 10,708,811 shares of the bank’s stock worth $1,071,954,000 after acquiring an additional 876,812 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in First Republic Bank by 13.3% in the second quarter. JPMorgan Chase & Co. now owns 6,745,564 shares of the bank’s stock worth $675,230,000 after acquiring an additional 793,964 shares during the period. Hedge funds and other institutional investors own 98.40% of the company’s stock.
First Republic Bank (NYSE FRC) traded up $1.37 during mid-day trading on Tuesday, hitting $91.59. 1,271,400 shares of the company’s stock traded hands, compared to its average volume of 980,573. The stock has a market capitalization of $14,232.79, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 1.68 and a beta of 0.99. First Republic Bank has a 1-year low of $80.55 and a 1-year high of $105.52. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55.
First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Friday, October 13th. The bank reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). The firm had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 earnings per share. sell-side analysts expect that First Republic Bank will post 4.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Thursday, October 26th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Wednesday, October 25th. First Republic Bank’s payout ratio is currently 16.04%.
A number of analysts recently weighed in on FRC shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $109.00 price objective on shares of First Republic Bank in a research note on Friday, September 15th. Barclays PLC lowered shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $108.00 to $104.00 in a research note on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $99.00 price objective on shares of First Republic Bank in a research note on Friday, September 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $90.00 price objective on shares of First Republic Bank in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of First Republic Bank in a research note on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $102.93.
First Republic Bank Company Profile
First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.
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