Hartford Investment Management Co. lessened its holdings in shares of First Republic Bank (NYSE:FRC – Get Rating ) by 7.0% during the first quarter, Holdings Channel.com reports. The firm owned 16,950 shares of the bank’s stock after selling 1,283 shares during the quarter. Hartford Investment Management Co.’s holdings. in First Republic Bank were worth $2,748,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC boosted its holdings in First Republic Bank by 0.7% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 8,065 shares of the bank’s stock valued at $1,666,000 after acquiring an additional 57 shares during the last quarter. Ieq Capital LLC boosted its holdings in First Republic Bank by 0.5% in the 4th quarter. Ieq Capital LLC now owns 11,745 shares of the bank’s stock valued at $2,425,000 after acquiring an additional 64 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in First Republic Bank by 0.6% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,522 shares of the bank’s stock valued at $1,868,000 after acquiring an additional 67 shares during the last quarter. Huntington National Bank boosted its holdings in First Republic Bank by 8.9% during the 4th quarter. Huntington National Bank now owns 853 shares of the bank’s stock valued at $176,000 after acquiring an additional 70 shares during the last quarter. Finally, SFE Investment Counsel boosted its holdings in First Republic Bank by 0.3% in the 4th quarter. SFE Investment Counsel now owns 25,678 shares of the bank’s stock valued at $5,303,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 94.41% of the company’s shares.
A number of equities analysts have recently issued reports on the company. Atlantic Securities raised First Republic Bank from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $210.00 to $188.00 in a report on Friday. Royal Bank of Canada boosted their target price on First Republic Bank from $184.00 to $187.00 and gave the stock a “sector perform” rating in a report on Thursday, April 14th. Credit Suisse Group upgraded First Republic Bank from an “underperform” rating to a “neutral” rating and set a $187.00 target price for the company in a report on Tuesday, April 5th. UBS Group raised First Republic Bank from a “neutral” rating to a “buy” rating and increased their target price for the stock from $188.00 to $194.00 in a report on Friday, April 8th. Finally, Morgan Stanley boosted their target price on First Republic Bank from $173.00 to $180.00 and gave the stock an “equal weight” rating in a report on Thursday, April 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $195.29, based on data from MarketBeat.
Shares of FRC stock opened at $147.38 on Friday. The firm has a market cap of $26.48 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.44, a quick earnings ratio of 0.92, and a current ratio of 0.92. The business’s fifty day moving average price is $146.74 and its two hundred day moving average price is $165.66. First Republic Bank has a 52-week low of $133.37 and a 52-week high of $222.86.
First Republic Bank (NYSE:FRC – Get Rating ) last announced its quarterly earnings data on Wednesday, April 13th. The bank reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.10. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ estimates of $1.40 billion. First Republic Bank had a return on equity of 12.91% and a net margin of 27.93%. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period last year, the company earned $1.79 EPS. As a group, analysts predict that First Republic Bank will post 8.46 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Thursday, April 28th were given a $0.27 dividend. This represents an annualized dividend of $1.08 and a yield of 0.73%. This is a positive change from First Republic Bank’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, April 27th. First Republic Bank’s dividend payout ratio (DPR) is currently 13.71%.
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 throughout the United States. It operates in two segments, merchant banking and wealth management. The Company accepts deposit products such as non-interest-bearing checks, interest-bearing checks, money market checking accounts, money market savings accounts and bank passbook accounts, as well as certificates of deposit.
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