LPL Financial LLC raised its position in First Republic Bank (NYSE:FRC) by 83.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,075 shares of the bank’s stock after acquiring an additional 2,307 shares during the period. LPL Financial LLC’s holdings in First Republic Bank were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board boosted its stake in First Republic Bank by 75.4% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 605,000 shares of the bank’s stock valued at $52,418,000 after acquiring an additional 260,000 shares in the last quarter. American International Group Inc. boosted its stake in First Republic Bank by 95.3% in the fourth quarter. American International Group Inc. now owns 7,570 shares of the bank’s stock valued at $656,000 after acquiring an additional 3,694 shares in the last quarter. Toronto Dominion Bank boosted its stake in First Republic Bank by 40.0% in the fourth quarter. Toronto Dominion Bank now owns 9,298 shares of the bank’s stock valued at $805,000 after acquiring an additional 2,656 shares in the last quarter. Virtus Fund Advisers LLC boosted its stake in First Republic Bank by 170.3% in the fourth quarter. Virtus Fund Advisers LLC now owns 1,234,325 shares of the bank’s stock valued at $106,942,000 after acquiring an additional 777,750 shares in the last quarter. Finally, Columbus Macro LLC acquired a new stake in First Republic Bank in the fourth quarter valued at approximately $633,000. Institutional investors own 99.06% of the company’s stock.
Shares of First Republic Bank stock opened at $92.47 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.97 and a quick ratio of 0.96. First Republic Bank has a 1 year low of $84.56 and a 1 year high of $105.52. The firm has a market cap of $14,171.27, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 1.47 and a beta of 0.82.
First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, April 13th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.07. First Republic Bank had a net margin of 25.33% and a return on equity of 11.76%. The firm had revenue of $720.90 million during the quarter, compared to analysts’ expectations of $732.68 million. During the same quarter last year, the company posted $1.01 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. equities analysts anticipate that First Republic Bank will post 4.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Thursday, April 26th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Wednesday, April 25th. This is a boost from First Republic Bank’s previous quarterly dividend of $0.17. First Republic Bank’s dividend payout ratio (DPR) is 15.78%.
Several equities research analysts have recently commented on FRC shares. Zacks Investment Research downgraded shares of First Republic Bank from a “hold” rating to a “sell” rating in a research note on Monday, January 22nd. Barclays lifted their price objective on shares of First Republic Bank from $98.00 to $101.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. UBS started coverage on shares of First Republic Bank in a research note on Wednesday, March 21st. They set a “neutral” rating and a $100.00 price objective for the company. Royal Bank of Canada reiterated a “hold” rating on shares of First Republic Bank in a research note on Wednesday, January 17th. Finally, Sandler O’Neill reiterated a “hold” rating and set a $94.00 price objective on shares of First Republic Bank in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $100.77.
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First Republic Bank Company Profile
First Republic Bank, Inc engages in the provision of private banking, private business banking, and private wealth management, including investment, trust and brokerage services through its subsidiaries. Its services includes checking, savings, money market, online and mobile banking, automated teller machine (ATM) card and ATM/debit card, student loan refinancing, residential and personal lending, foreign exchange, business lending by industry, general business loans, commercial real estate and construction loans, business lines of credit, corporate online, treasury services, endowment management, and financial planning.
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