Andra AP fonden raised its stake in shares of First Republic Bank (NYSE:FRC) by 21.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 16,100 shares of the bank’s stock after buying an additional 2,800 shares during the period. Andra AP fonden’s holdings in First Republic Bank were worth $1,682,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FRC. Boston Financial Mangement LLC purchased a new position in shares of First Republic Bank in the 3rd quarter valued at about $7,496,000. Bbva Compass Bancshares Inc. increased its stake in shares of First Republic Bank by 50.8% in the 3rd quarter. Bbva Compass Bancshares Inc. now owns 11,487 shares of the bank’s stock valued at $1,200,000 after purchasing an additional 3,871 shares in the last quarter. Howland Capital Management LLC increased its stake in shares of First Republic Bank by 7.4% in the 3rd quarter. Howland Capital Management LLC now owns 148,098 shares of the bank’s stock valued at $15,470,000 after purchasing an additional 10,200 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of First Republic Bank by 73.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,598 shares of the bank’s stock valued at $271,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Westpac Banking Corp increased its stake in shares of First Republic Bank by 122.0% in the 3rd quarter. Westpac Banking Corp now owns 65,428 shares of the bank’s stock valued at $6,835,000 after purchasing an additional 35,959 shares in the last quarter. Institutional investors and hedge funds own 98.40% of the company’s stock.
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First Republic Bank (NYSE:FRC) opened at $90.22 on Monday. The firm has a market capitalization of $14,232.79, a P/E ratio of 21.28, a PEG ratio of 1.68 and a beta of 0.99. First Republic Bank has a twelve month low of $80.55 and a twelve month 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 issued its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). The company had revenue of $670.30 million for the quarter, compared to analyst estimates of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share. research analysts predict that First Republic Bank will post 4.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 26th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, October 25th. First Republic Bank’s dividend payout ratio is currently 16.04%.
Several brokerages recently weighed in on FRC. Barclays PLC lowered First Republic Bank from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $108.00 to $104.00 in a research note on Tuesday, October 10th. Royal Bank Of Canada restated a “hold” rating on shares of First Republic Bank in a research note on Friday, September 29th. Jefferies Group LLC lifted their price target on First Republic Bank from $109.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, September 29th. BMO Capital Markets restated a “hold” rating and issued a $96.00 price target on shares of First Republic Bank in a research note on Sunday, July 16th. Finally, BidaskClub lowered First Republic Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $102.93.
About First Republic Bank
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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