Sand Hill Global Advisors LLC Sells 52,675 Shares of First Republic Bank (FRC)

Sand Hill Global Advisors LLC trimmed its holdings in shares of First Republic Bank (NYSE:FRC) by 91.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,197 shares of the bank’s stock after selling 52,675 shares during the period. Sand Hill Global Advisors LLC’s holdings in First Republic Bank were worth $481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. Flinton Capital Management LLC boosted its holdings in shares of First Republic Bank by 25.5% in the 1st quarter. Flinton Capital Management LLC now owns 395,352 shares of the bank’s stock valued at $36,614,000 after buying an additional 80,206 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of First Republic Bank by 3.5% in the 1st quarter. Franklin Resources Inc. now owns 387,211 shares of the bank’s stock valued at $35,859,000 after buying an additional 13,220 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in shares of First Republic Bank by 52.8% in the 1st quarter. Natixis Advisors L.P. now owns 33,507 shares of the bank’s stock valued at $3,103,000 after buying an additional 11,584 shares in the last quarter. WCM Investment Management CA boosted its holdings in shares of First Republic Bank by 2.7% in the 1st quarter. WCM Investment Management CA now owns 737,522 shares of the bank’s stock valued at $68,302,000 after buying an additional 19,100 shares in the last quarter. Finally, Peapack Gladstone Financial Corp boosted its holdings in shares of First Republic Bank by 7.5% in the 1st quarter. Peapack Gladstone Financial Corp now owns 32,771 shares of the bank’s stock valued at $3,035,000 after buying an additional 2,295 shares in the last quarter.

A number of analysts have recently weighed in on the stock. UBS assumed coverage on shares of First Republic Bank in a report on Wednesday, March 21st. They issued a “neutral” rating and a $100.00 price target on the stock. Barclays upgraded shares of First Republic Bank from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $93.00 to $110.00 in a report on Tuesday, March 6th. Royal Bank of Canada restated a “hold” rating and issued a $96.00 price target on shares of First Republic Bank in a report on Friday, April 13th. Jefferies Group restated a “hold” rating and issued a $88.00 price target on shares of First Republic Bank in a report on Wednesday, April 18th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $95.00 price target on shares of First Republic Bank in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. First Republic Bank has an average rating of “Hold” and an average price target of $100.77.

Shares of First Republic Bank stock opened at $99.91 on Friday. The company has a market capitalization of $15.87 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.65 and a beta of 0.83. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 1.45. First Republic Bank has a 52 week low of $84.56 and a 52 week high of $105.52.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Friday, April 13th. The bank reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.07. The firm had revenue of $720.90 million during the quarter, compared to analyst estimates of $732.68 million. First Republic Bank had a net margin of 25.33% and a return on equity of 11.76%. First Republic Bank’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the firm posted $1.01 EPS. analysts expect that First Republic Bank will post 4.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 10th. Investors of record on Thursday, April 26th were given a $0.18 dividend. This is a positive change from First Republic Bank’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Wednesday, April 25th. First Republic Bank’s dividend payout ratio (DPR) is presently 16.71%.

About First Republic Bank

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas of the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, and passbook deposits, as well as certificates of deposit.

Want to see what other hedge funds are holding FRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Republic Bank (NYSE:FRC).

Institutional Ownership by Quarter for First Republic Bank (NYSE:FRC)

Receive News & Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply