Atlas Capital Advisors LLC boosted its holdings in First Republic Bank (NYSE:FRC) by 3,966.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,911 shares of the bank’s stock after purchasing an additional 1,864 shares during the quarter. Atlas Capital Advisors LLC’s holdings in First Republic Bank were worth $319,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. FDx Advisors Inc. increased its holdings in First Republic Bank by 2.0% in the 4th quarter. FDx Advisors Inc. now owns 3,507 shares of the bank’s stock valued at $515,000 after buying an additional 68 shares during the period. Empire Life Investments Inc. increased its holdings in First Republic Bank by 0.6% in the 1st quarter. Empire Life Investments Inc. now owns 12,405 shares of the bank’s stock valued at $2,069,000 after buying an additional 71 shares during the period. Moody Lynn & Lieberson LLC increased its holdings in First Republic Bank by 1.2% in the 1st quarter. Moody Lynn & Lieberson LLC now owns 6,140 shares of the bank’s stock valued at $1,024,000 after buying an additional 74 shares during the period. Trust Co. of Vermont increased its holdings in First Republic Bank by 82.1% in the 4th quarter. Trust Co. of Vermont now owns 173 shares of the bank’s stock valued at $25,000 after buying an additional 78 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in First Republic Bank by 28.7% in the 4th quarter. First Horizon Advisors Inc. now owns 372 shares of the bank’s stock valued at $54,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 97.11% of the company’s stock.
FRC has been the topic of several recent analyst reports. Maxim Group raised their target price on shares of First Republic Bank from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, April 21st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on shares of First Republic Bank from $163.00 to $174.00 and gave the company a “neutral” rating in a report on Tuesday, April 20th. Credit Suisse Group lifted their price target on shares of First Republic Bank from $157.00 to $163.00 and gave the company an “underperform” rating in a report on Wednesday, April 21st. Citigroup lifted their price target on shares of First Republic Bank from $163.00 to $174.00 in a report on Wednesday, April 14th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a $163.00 price target on shares of First Republic Bank in a report on Wednesday, April 21st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $155.19.
FRC opened at $188.53 on Thursday. First Republic Bank has a fifty-two week low of $100.38 and a fifty-two week high of $192.05. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $32.46 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 1.74 and a beta of 1.12. The company’s 50 day moving average price is $181.64 and its two-hundred day moving average price is $159.14.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Tuesday, April 13th. The bank reported $1.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.25. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. First Republic Bank had a net margin of 25.63% and a return on equity of 11.76%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 EPS. As a group, equities research analysts predict that First Republic Bank will post 6.98 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 13th. Stockholders of record on Thursday, April 29th were given a $0.22 dividend. The ex-dividend date was Wednesday, April 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from First Republic Bank’s previous quarterly dividend of $0.20. First Republic Bank’s payout ratio is 15.15%.
First Republic Bank Company Profile
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.
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