Parametrica Management Ltd bought a new position in First Republic Bank (NYSE:FRC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,802 shares of the bank’s stock, valued at approximately $330,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors purchased a new position in First Republic Bank in the 3rd quarter worth about $675,106,000. Capital International Investors purchased a new position in First Republic Bank in the 3rd quarter worth about $462,618,000. BlackRock Inc. increased its stake in First Republic Bank by 7.8% in the 4th quarter. BlackRock Inc. now owns 13,031,329 shares of the bank’s stock worth $1,132,423,000 after buying an additional 948,394 shares during the period. Select Equity Group L.P. increased its stake in First Republic Bank by 44.7% in the 3rd quarter. Select Equity Group L.P. now owns 2,858,783 shares of the bank’s stock worth $274,443,000 after buying an additional 882,986 shares during the period. Finally, Parnassus Investments CA increased its stake in First Republic Bank by 18.6% in the 4th quarter. Parnassus Investments CA now owns 5,601,934 shares of the bank’s stock worth $486,808,000 after buying an additional 878,285 shares during the period.
FRC has been the topic of several recent analyst reports. ValuEngine raised shares of First Republic Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, January 16th. Maxim Group reissued a “buy” rating and set a $110.00 target price on shares of First Republic Bank in a research report on Tuesday, January 15th. Morgan Stanley cut their target price on shares of First Republic Bank from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 11th. Zacks Investment Research raised shares of First Republic Bank from a “sell” rating to a “hold” rating in a research report on Monday, January 14th. Finally, Raymond James downgraded shares of First Republic Bank from an “outperform” rating to a “market perform” rating in a research report on Monday, January 7th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $102.47.
FRC stock opened at $104.77 on Tuesday. The company has a market capitalization of $16.35 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.57 and a beta of 0.93. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.34. First Republic Bank has a 52 week low of $79.42 and a 52 week high of $106.75.
First Republic Bank (NYSE:FRC) last released its earnings results on Tuesday, January 15th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.05. The company had revenue of $810.75 million during the quarter, compared to analysts’ expectations of $812.10 million. First Republic Bank had a net margin of 23.88% and a return on equity of 11.62%. First Republic Bank’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the business earned $1.10 EPS. As a group, equities research analysts forecast that First Republic Bank will post 5.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Thursday, January 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Wednesday, January 30th. First Republic Bank’s dividend payout ratio (DPR) is presently 14.97%.
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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.
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