Capital International Investors lifted its position in First Republic Bank (NYSE:FRC) by 0.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,327,161 shares of the bank’s stock after acquiring an additional 3,342 shares during the quarter. Capital International Investors owned approximately 6.72% of First Republic Bank worth $1,330,375,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FRC. TRUE Private Wealth Advisors bought a new position in shares of First Republic Bank in the fourth quarter worth approximately $34,000. Penserra Capital Management LLC raised its holdings in shares of First Republic Bank by 59.9% during the 3rd quarter. Penserra Capital Management LLC now owns 550 shares of the bank’s stock worth $52,000 after acquiring an additional 206 shares in the last quarter. Allred Capital Management LLC purchased a new stake in shares of First Republic Bank during the 4th quarter worth approximately $65,000. Price Wealth LLC purchased a new stake in shares of First Republic Bank during the 4th quarter worth approximately $69,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of First Republic Bank by 52.6% during the 4th quarter. Advisors Asset Management Inc. now owns 693 shares of the bank’s stock worth $81,000 after acquiring an additional 239 shares in the last quarter.
Shares of First Republic Bank stock traded down $0.83 on Thursday, reaching $83.62. The stock had a trading volume of 713,584 shares, compared to its average volume of 2,067,464. First Republic Bank has a 1 year low of $70.06 and a 1 year high of $122.34. The company has a market cap of $13.95 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 2.19 and a beta of 0.91. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.55. The business’s 50 day moving average is $103.27 and its two-hundred day moving average is $106.55.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Tuesday, January 14th. The bank reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.12. First Republic Bank had a net margin of 22.38% and a return on equity of 11.08%. The business had revenue of $877.50 million for the quarter, compared to analysts’ expectations of $876.90 million. During the same period last year, the business earned $1.29 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. On average, equities analysts anticipate that First Republic Bank will post 5.08 EPS for the current fiscal year.
Several brokerages have recently issued reports on FRC. Morgan Stanley decreased their price objective on First Republic Bank from $103.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 17th. Wells Fargo & Co downgraded shares of First Republic Bank from an “equal weight” rating to an “underweight” rating and set a $100.00 price objective on the stock. in a report on Monday, January 6th. They noted that the move was a valuation call. Royal Bank of Canada upped their price objective on shares of First Republic Bank from $110.00 to $125.00 and gave the company a “sector perform” rating in a report on Wednesday, January 15th. They noted that the move was a valuation call. BMO Capital Markets reaffirmed a “market perform” rating and set a $119.00 price objective on shares of First Republic Bank in a report on Wednesday, January 15th. They noted that the move was a valuation call. Finally, Maxim Group reaffirmed a “buy” rating and set a $130.00 price objective on shares of First Republic Bank in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $112.57.
First Republic Bank Company Profile
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 in 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, passbook deposits, and individual retirement accounts, as well as certificates of deposit.
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