Skandinaviska Enskilda Banken AB publ increased its position in First Republic Bank (NYSE:FRC) by 15.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,347 shares of the bank’s stock after acquiring an additional 3,074 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in First Republic Bank were worth $2,439,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. purchased a new position in First Republic Bank during the second quarter valued at $128,000. Parallel Advisors LLC lifted its position in First Republic Bank by 21.4% during the second quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock valued at $132,000 after purchasing an additional 232 shares in the last quarter. Creative Planning lifted its position in shares of First Republic Bank by 21.3% in the second quarter. Creative Planning now owns 1,407 shares of the bank’s stock valued at $141,000 after acquiring an additional 247 shares in the last quarter. Peddock Capital Advisors LLC purchased a new position in shares of First Republic Bank in the second quarter valued at about $180,000. Finally, Bronfman E.L. Rothschild L.P. lifted its position in shares of First Republic Bank by 0.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock valued at $195,000 after acquiring an additional 5 shares in the last quarter. Institutional investors own 99.14% of the company’s stock.
Shares of First Republic Bank (NYSE FRC) traded down $2.01 during mid-day trading on Wednesday, hitting $93.80. The stock had a trading volume of 893,200 shares, compared to its average volume of 985,993. First Republic Bank has a 1 year low of $84.50 and a 1 year high of $105.52. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $14,750.00, a PE ratio of 22.60, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96.
First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The firm had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. During the same period last year, the firm posted $1.00 earnings per share. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. research analysts forecast that First Republic Bank will post 4.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 26th were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, October 25th. This represents a $0.68 annualized dividend and a dividend yield of 0.72%. First Republic Bank’s dividend payout ratio (DPR) is 16.04%.
Several equities analysts have recently commented on the company. Piper Jaffray Companies set a $99.00 price objective on First Republic Bank and gave the company a “hold” rating in a research report on Sunday, October 15th. Jefferies Group boosted their price objective on First Republic Bank from $109.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Barclays downgraded First Republic Bank from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $108.00 to $104.00 in a research report on Tuesday, October 10th. Wells Fargo & Company lowered their price objective on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating on the stock in a research report on Monday, October 16th. Finally, BMO Capital Markets lowered their price objective on First Republic Bank from $96.00 to $92.00 and set a “market perform” rating on the stock in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $102.93.
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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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