D.A. Davidson & CO. Trims Stake in First Republic Bank (FRC)

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D.A. Davidson & CO. trimmed its position in First Republic Bank (NYSE:FRC) by 15.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,331 shares of the bank’s stock after selling 424 shares during the period. D.A. Davidson & CO.’s holdings in First Republic Bank were worth $203,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FRC. Capital Insight Partners LLC raised its position in shares of First Republic Bank by 0.8% in the fourth quarter. Capital Insight Partners LLC now owns 15,707 shares of the bank’s stock valued at $1,365,000 after purchasing an additional 125 shares during the period. Paradigm Asset Management Co. LLC boosted its stake in shares of First Republic Bank by 5.7% in the 3rd quarter. Paradigm Asset Management Co. LLC now owns 6,500 shares of the bank’s stock valued at $624,000 after purchasing an additional 350 shares in the last quarter. Daiwa SB Investments Ltd. boosted its stake in shares of First Republic Bank by 9.0% in the 4th quarter. Daiwa SB Investments Ltd. now owns 4,970 shares of the bank’s stock valued at $432,000 after purchasing an additional 410 shares in the last quarter. Sumitomo Life Insurance Co. boosted its stake in shares of First Republic Bank by 2.5% in the 4th quarter. Sumitomo Life Insurance Co. now owns 17,500 shares of the bank’s stock valued at $1,521,000 after purchasing an additional 421 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. bought a new position in shares of First Republic Bank in the fourth quarter valued at about $45,000.

Several brokerages have weighed in on FRC. Zacks Investment Research cut First Republic Bank from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. Bank of America reaffirmed a “neutral” rating and issued a $104.00 price target (up from $98.00) on shares of First Republic Bank in a research note on Tuesday, February 5th. Wells Fargo & Co boosted their price objective on First Republic Bank from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, January 16th. Morgan Stanley decreased their price objective on First Republic Bank from $95.00 to $94.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 8th. Finally, Maxim Group reaffirmed a “buy” rating and set a $110.00 price target on shares of First Republic Bank in a research report on Tuesday, January 15th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $102.29.

Shares of NYSE:FRC opened at $100.40 on Thursday. The company has a market cap of $15.86 billion, a P/E ratio of 20.87, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.99 and a current ratio of 0.99. First Republic Bank has a 12-month low of $79.42 and a 12-month high of $106.75.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Tuesday, January 15th. The bank reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.05. The business had revenue of $810.75 million for the quarter, compared to analysts’ expectations of $812.10 million. First Republic Bank had a return on equity of 11.62% and a net margin of 23.88%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 earnings per share. As a group, research analysts predict that First Republic Bank will post 5.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Thursday, January 31st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, January 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.72%. First Republic Bank’s payout ratio is 14.97%.

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First Republic Bank 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 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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Institutional Ownership by Quarter for First Republic Bank (NYSE:FRC)

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