Capital Insight Partners LLC raised its stake in First Republic Bank (NYSE:FRC – Get Rating) by 11.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,046 shares of the bank’s stock after purchasing an additional 2,301 shares during the quarter. Capital Insight Partners LLC’s holdings in First Republic Bank were worth $3,574,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Mascoma Wealth Management LLC purchased a new position in shares of First Republic Bank in the 4th quarter valued at approximately $26,000. Arlington Partners LLC purchased a new stake in shares of First Republic Bank in the fourth quarter valued at approximately $39,000. Quent Capital LLC purchased a new stake in shares of First Republic Bank in the fourth quarter valued at approximately $45,000. Ellevest Inc. boosted its stake in shares of First Republic Bank by 84.3% in the first quarter. Ellevest Inc. now owns 306 shares of the bank’s stock valued at $50,000 after buying an additional 140 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC purchased a new stake in shares of First Republic Bank in the fourth quarter valued at approximately $53,000. Institutional investors own 94.41% of the company’s stock.
Shares of NYSE:FRC traded up $0.98 during midday trading on Friday, reaching $145.18. The company’s stock had a trading volume of 4,654 shares, compared to its average volume of 1,354,588. The firm has a market cap of $26.08 billion, a price-to-earnings ratio of 18.68, a price-to-earnings-growth ratio of 1.42 and a beta of 1.11. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.44. First Republic Bank has a 1 year low of $133.37 and a 1 year high of $222.86. The business has a 50 day moving average price of $146.94 and a 200 day moving average price of $166.33.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Thursday, April 28th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, April 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from First Republic Bank’s previous quarterly dividend of $0.22. First Republic Bank’s payout ratio is currently 13.71%.
FRC has been the topic of a number of analyst reports. Wells Fargo & Company decreased their price target on First Republic Bank from $180.00 to $165.00 and set an “underweight” rating on the stock in a research note on Thursday, April 14th. JPMorgan Chase & Co. reduced their price objective on First Republic Bank from $215.00 to $200.00 and set an “overweight” rating for the company in a report on Friday. Atlantic Securities raised First Republic Bank from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $210.00 to $188.00 in a report on Friday. Wolfe Research reduced their price objective on First Republic Bank from $194.00 to $157.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Finally, UBS Group raised First Republic Bank from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $188.00 to $194.00 in a report on Friday, April 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $195.29.
First Republic Bank Profile (Get Rating)
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. It operates in two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as noninterest-bearing checking, interest-bearing checking, money market checking accounts, money market savings accounts, and passbook accounts, as well as certificates of deposit.
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