Cobiz Wealth LLC lessened its position in First Republic Bank (NYSE:FRC) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,079 shares of the bank’s stock after selling 1,386 shares during the quarter. Cobiz Wealth LLC’s holdings in First Republic Bank were worth $6,245,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Excalibur Management Corp purchased a new position in shares of First Republic Bank in the 4th quarter valued at approximately $542,000. Personal Capital Advisors Corp lifted its stake in shares of First Republic Bank by 2.5% in the 4th quarter. Personal Capital Advisors Corp now owns 221,447 shares of the bank’s stock valued at $19,186,000 after purchasing an additional 5,504 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of First Republic Bank by 83.9% in the 4th quarter. State of Alaska Department of Revenue now owns 28,735 shares of the bank’s stock valued at $2,488,000 after purchasing an additional 13,110 shares during the period. Endurance Wealth Management Inc. purchased a new position in shares of First Republic Bank in the 4th quarter valued at approximately $1,853,000. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of First Republic Bank by 5.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 378,512 shares of the bank’s stock valued at $32,795,000 after purchasing an additional 18,338 shares during the period. Institutional investors own 98.29% of the company’s stock.
First Republic Bank (FRC) traded down $0.05 during mid-day trading on Tuesday, reaching $89.88. The company had a trading volume of 1,988,800 shares, compared to its average volume of 1,960,179. First Republic Bank has a one year low of $84.56 and a one year high of $105.52. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.46. The company has a market cap of $14,200.00, a price-to-earnings ratio of 20.85, a PEG ratio of 1.47 and a beta of 0.96.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Tuesday, January 16th. The bank reported $1.10 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $688.48 million. During the same period last year, the business earned $1.03 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. equities research analysts predict that First Republic Bank will post 4.83 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 8th. Investors of record on Thursday, January 25th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Wednesday, January 24th. First Republic Bank’s dividend payout ratio (DPR) is presently 15.78%.
A number of research analysts have recently commented on FRC shares. Jefferies Group raised their target price 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. Maxim Group restated a “buy” rating and issued a $110.00 target price on shares of First Republic Bank in a research note on Thursday, January 4th. Barclays cut First Republic Bank from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $108.00 to $104.00 in a research note on Tuesday, October 10th. Morgan Stanley restated an “equal weight” rating and issued a $106.00 target price on shares of First Republic Bank in a research note on Thursday, December 14th. Finally, Zacks Investment Research upgraded First Republic Bank from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $102.21.
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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