Axiom International Investors LLC DE decreased its stake in First Republic Bank (NYSE:FRC) by 24.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,320 shares of the bank’s stock after selling 65,812 shares during the quarter. Axiom International Investors LLC DE owned approximately 0.13% of First Republic Bank worth $20,821,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. increased its position in 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 worth $195,000 after buying an additional 5 shares in the last quarter. Alps Advisors Inc. increased its position in First Republic Bank by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,979 shares of the bank’s stock worth $498,000 after buying an additional 13 shares in the last quarter. Global X Management Co. LLC increased its position in First Republic Bank by 1.1% in the second quarter. Global X Management Co. LLC now owns 5,935 shares of the bank’s stock worth $594,000 after buying an additional 62 shares in the last quarter. D.A. Davidson & CO. increased its position in First Republic Bank by 3.2% in the second quarter. D.A. Davidson & CO. now owns 2,612 shares of the bank’s stock worth $261,000 after buying an additional 81 shares in the last quarter. Finally, World Asset Management Inc increased its position in First Republic Bank by 1.7% in the second quarter. World Asset Management Inc now owns 6,776 shares of the bank’s stock worth $678,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 99.14% of the company’s stock.
A number of analysts have commented on FRC shares. Zacks Investment Research cut First Republic Bank from a “hold” rating to a “sell” rating in a research report on Monday, September 18th. Jefferies Group restated a “buy” rating and issued a $109.00 price target on shares of First Republic Bank in a research report on Friday, September 15th. Piper Jaffray Companies restated a “hold” rating and issued a $99.00 price target on shares of First Republic Bank in a research report on Friday, September 1st. Raymond James Financial reduced their price target on First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, October 16th. Finally, Barclays set a $102.00 price target on First Republic Bank and gave the stock a “hold” rating in a research report on Monday, October 16th. Two 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 stock. The company presently has a consensus rating of “Hold” and a consensus target price of $102.93.
First Republic Bank (NYSE FRC) traded down $2.01 during trading hours on Wednesday, hitting $93.80. The company had a trading volume of 893,200 shares, compared to its average volume of 985,993. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.95 and a quick ratio of 0.94. First Republic Bank has a 12-month low of $84.50 and a 12-month high of $105.52. The stock has a market capitalization of $14,750.00, a PE ratio of 22.60, a P/E/G ratio of 1.78 and a beta of 0.96.
First Republic Bank (NYSE:FRC) last released its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS. research analysts predict that First Republic Bank will post 4.36 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.72%. The ex-dividend date was Wednesday, October 25th. First Republic Bank’s dividend payout ratio is presently 16.04%.
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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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