Reynders McVeigh Capital Management LLC raised its position in First Republic Bank (NYSE:FRC) by 61.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,340 shares of the bank’s stock after purchasing an additional 2,410 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in First Republic Bank were worth $662,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Barnett & Company Inc. bought a new position in shares of First Republic Bank during the second quarter valued at approximately $100,000. Shine Investment Advisory Services Inc. bought a new position in shares of First Republic Bank during the second quarter valued at approximately $128,000. Parallel Advisors LLC boosted its stake in shares of 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 boosted its stake in shares of First Republic Bank by 21.3% during the second quarter. Creative Planning now owns 1,407 shares of the bank’s stock valued at $141,000 after purchasing an additional 247 shares in the last quarter. Finally, Peddock Capital Advisors LLC bought a new position in shares of First Republic Bank during the second quarter valued at approximately $180,000. 99.07% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on FRC. BMO Capital Markets dropped their price objective on shares of First Republic Bank from $96.00 to $92.00 and set a “market perform” rating on the stock in a research note on Monday, October 16th. Royal Bank Of Canada restated a “hold” rating on shares of First Republic Bank in a research note on Friday, September 29th. BidaskClub cut shares of First Republic Bank from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Piper Jaffray Companies reissued a “hold” rating and set a $99.00 target price on shares of First Republic Bank in a report on Friday, September 1st. Finally, Jefferies Group LLC restated a “buy” rating and set a $111.00 price target on shares of First Republic Bank in a research report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $102.93.
First Republic Bank (NYSE:FRC) opened at $92.94 on Monday. First Republic Bank has a twelve month low of $80.55 and a twelve month high of $105.52. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55. The company has a market cap of $14,620.00, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99.
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 consensus estimate of $1.16 by ($0.02). First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The company had revenue of $670.30 million during the quarter, compared to analyst estimates of $678.25 million. During the same quarter in the previous year, the company posted $1.00 EPS. The company’s quarterly revenue was up 20.1% on a year-over-year basis. equities analysts forecast that First Republic Bank will post 4.36 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, October 25th. This represents a $0.68 dividend on an annualized basis and a yield of 0.73%. First Republic Bank’s payout ratio is currently 16.04%.
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About First Republic Bank
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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