Teacher Retirement System of Texas Acquires 40,862 Shares of First Republic Bank (FRC)

Teacher Retirement System of Texas lifted its holdings in shares of First Republic Bank (NYSE:FRC) by 1,904.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 43,008 shares of the bank’s stock after purchasing an additional 40,862 shares during the period. Teacher Retirement System of Texas’ holdings in First Republic Bank were worth $3,726,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cerebellum GP LLC bought a new position in shares of First Republic Bank during the fourth quarter worth approximately $127,000. Zions Bancorporation acquired a new stake in shares of First Republic Bank during the 3rd quarter worth approximately $160,000. Mawer Investment Management Ltd. acquired a new stake in shares of First Republic Bank during the 3rd quarter worth approximately $209,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of First Republic Bank during the 3rd quarter worth approximately $209,000. Finally, Brookmont Capital Management acquired a new stake in shares of First Republic Bank during the 3rd quarter worth approximately $210,000. 98.77% of the stock is currently owned by institutional investors.

Shares of First Republic Bank (FRC) opened at $95.52 on Friday. First Republic Bank has a 52-week low of $84.56 and a 52-week high of $105.52. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $15,068.95, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91.

First Republic Bank (NYSE:FRC) last issued its earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.05). First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. The company had revenue of $699.20 million during the quarter, compared to analyst estimates of $688.48 million. During the same quarter in the prior year, the business earned $1.03 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. equities research analysts expect that First Republic Bank will post 4.74 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 8th. Shareholders of record on Thursday, January 25th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, January 24th. This represents a $0.68 dividend on an annualized basis and a yield of 0.71%. First Republic Bank’s dividend payout ratio is currently 15.78%.

Several analysts recently issued reports on FRC shares. Maxim Group reiterated a “buy” rating and set a $110.00 price target on shares of First Republic Bank in a research report on Thursday, January 4th. Morgan Stanley reiterated an “equal weight” rating and set a $106.00 price target on shares of First Republic Bank in a research report on Thursday, December 14th. Barclays increased their price target on shares of First Republic Bank from $98.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Jefferies Group lowered shares of First Republic Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Finally, Zacks Investment Research upgraded shares of First Republic Bank from a “sell” rating to a “hold” rating in a research report on Friday, December 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $101.54.

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

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