Zevenbergen Capital Investments LLC boosted its holdings in shares of First Republic Bank (NYSE:FRC) by 16.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 466,029 shares of the bank’s stock after acquiring an additional 67,518 shares during the period. First Republic Bank comprises 2.1% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 19th largest holding. Zevenbergen Capital Investments LLC owned approximately 0.30% of First Republic Bank worth $48,681,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Metropolitan Life Insurance Co. NY grew its holdings in First Republic Bank by 5.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 9,340 shares of the bank’s stock valued at $876,000 after purchasing an additional 472 shares during the period. Capstone Asset Management Co. grew its stake in First Republic Bank by 10.1% during the second quarter. Capstone Asset Management Co. now owns 3,712 shares of the bank’s stock worth $372,000 after buying an additional 340 shares during the period. Creative Planning grew its stake in First Republic Bank by 21.3% during the second quarter. Creative Planning now owns 1,407 shares of the bank’s stock worth $141,000 after buying an additional 247 shares during the period. Aperio Group LLC grew its stake in First Republic Bank by 11.4% during the second quarter. Aperio Group LLC now owns 54,228 shares of the bank’s stock worth $5,428,000 after buying an additional 5,550 shares during the period. Finally, Congress Asset Management Co. MA grew its stake in First Republic Bank by 2.2% during the second quarter. Congress Asset Management Co. MA now owns 85,808 shares of the bank’s stock worth $8,589,000 after buying an additional 1,850 shares during the period. Institutional investors own 99.14% of the company’s stock.
First Republic Bank (FRC) opened at $93.80 on Wednesday. The company has a market cap of $14,750.00, a PE ratio of 22.60, a PEG ratio of 1.78 and a beta of 0.96. 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 has a 12-month low of $84.50 and a 12-month high of $105.52.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Wednesday, October 25th. First Republic Bank’s payout ratio is 16.04%.
A number of research analysts have recently commented on the stock. Jefferies Group boosted their target price on shares of First Republic Bank from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Barclays cut shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $108.00 to $104.00 in a research report on Tuesday, October 10th. Piper Jaffray Companies set a $99.00 target price on shares of First Republic Bank and gave the stock a “hold” rating in a research report on Sunday, October 15th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $87.00 target price on shares of First Republic Bank in a research report on Friday, October 13th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of First Republic Bank in a research report on Friday, September 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $102.93.
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First Republic Bank 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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