Dimensional Fund Advisors LP boosted its stake in First Republic Bank (NYSE:FRC) by 6.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 563,468 shares of the bank’s stock after buying an additional 32,508 shares during the period. Dimensional Fund Advisors LP owned approximately 0.36% of First Republic Bank worth $52,860,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of FRC. Parallel Advisors LLC raised its position in shares of First Republic Bank by 628.2% in the first quarter. Parallel Advisors LLC now owns 1,085 shares of the bank’s stock valued at $101,000 after buying an additional 936 shares in the last quarter. Israel Discount Bank of New York GFN purchased a new position in First Republic Bank during the fourth quarter worth $106,000. Israel Discount Bank of New York purchased a new position in First Republic Bank during the first quarter worth $107,000. Creative Planning raised its position in First Republic Bank by 5.5% in the first quarter. Creative Planning now owns 1,160 shares of the bank’s stock worth $109,000 after buying an additional 60 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in First Republic Bank by 49.7% in the first quarter. Toronto Dominion Bank now owns 1,944 shares of the bank’s stock worth $182,000 after buying an additional 645 shares during the last quarter. Institutional investors own 99.64% of the company’s stock.
First Republic Bank (NYSE FRC) traded down 0.10% during midday trading on Tuesday, reaching $101.60. 438,753 shares of the company traded hands. The stock has a market capitalization of $16.02 billion, a P/E ratio of 24.79 and a beta of 0.99. First Republic Bank has a 1-year low of $71.66 and a 1-year high of $104.17. The firm has a 50-day moving average of $100.93 and a 200-day moving average of $95.64.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Friday, July 14th. The bank reported $1.06 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by $0.03. The business had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $671.27 million. First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. First Republic Bank’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. On average, analysts predict that First Republic Bank will post $4.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Thursday, July 27th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Tuesday, July 25th. First Republic Bank’s dividend payout ratio (DPR) is presently 16.59%.
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A number of analysts recently issued reports on the stock. Piper Jaffray Companies decreased their price objective on shares of First Republic Bank from $97.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, April 17th. Zacks Investment Research downgraded shares of First Republic Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, June 6th. BidaskClub cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Barclays PLC boosted their price objective on shares of First Republic Bank from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. Finally, Maxim Group reiterated a “buy” rating and set a $110.00 target price (up from $105.00) on shares of First Republic Bank in a research report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $104.54.
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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