Baldwin Brothers Inc. MA trimmed its stake in shares of First Republic Bank (NYSE:FRC) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 169,231 shares of the bank’s stock after selling 7,195 shares during the period. First Republic Bank comprises about 2.8% of Baldwin Brothers Inc. MA’s holdings, making the stock its 5th biggest position. Baldwin Brothers Inc. MA owned about 0.11% of First Republic Bank worth $17,678,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of FRC. Barnett & Company Inc. purchased a new stake in First Republic Bank in the 2nd quarter worth approximately $100,000. Whittier Trust Co. of Nevada Inc. grew its stake in First Republic Bank by 100.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,071 shares of the bank’s stock worth $107,000 after acquiring an additional 537 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in First Republic Bank in the 2nd quarter worth approximately $128,000. Parallel Advisors LLC grew its stake in First Republic Bank by 21.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock worth $132,000 after acquiring an additional 232 shares during the period. Finally, Creative Planning grew its stake in First Republic Bank by 21.3% in the 2nd quarter. Creative Planning now owns 1,407 shares of the bank’s stock worth $141,000 after acquiring an additional 247 shares during the period. Hedge funds and other institutional investors own 98.40% of the company’s stock.
Several analysts have recently issued reports on FRC shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $109.00 price target on shares of First Republic Bank in a research report on Friday, September 15th. Barclays PLC lowered shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $108.00 to $104.00 in a report on Tuesday, October 10th. Piper Jaffray Companies restated a “hold” rating and issued a $99.00 target price on shares of First Republic Bank in a research note on Friday, September 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $90.00 target price on shares of First Republic Bank in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of First Republic Bank in a research note on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. First Republic Bank has an average rating of “Hold” and an average price target of $102.93.
First Republic Bank (FRC) traded up $1.37 during mid-day trading on Tuesday, reaching $91.59. 1,271,400 shares of the company traded hands, compared to its average volume of 980,573. First Republic Bank has a fifty-two week low of $80.55 and a fifty-two week high of $105.52. The firm has a market capitalization of $14,232.79, a price-to-earnings ratio of 21.28, a PEG ratio of 1.68 and a beta of 0.99. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55.
First Republic Bank (NYSE:FRC) last released its earnings results on Friday, October 13th. The bank reported $1.14 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 business had revenue of $670.30 million for the quarter, compared to analyst estimates of $678.25 million. During the same period in the prior year, the company earned $1.00 earnings per share. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. equities analysts forecast that First Republic Bank will post 4.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Thursday, October 26th were given a $0.17 dividend. The ex-dividend date was Wednesday, October 25th. This represents a $0.68 annualized dividend and a dividend yield of 0.74%. First Republic Bank’s dividend payout ratio (DPR) is presently 16.04%.
First Republic Bank Company Profile
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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