Boston Family Office LLC grew its holdings in shares of First Republic Bank (NYSE:FRC) by 19.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155,424 shares of the bank’s stock after acquiring an additional 24,977 shares during the period. First Republic Bank accounts for approximately 1.5% of Boston Family Office LLC’s investment portfolio, making the stock its 16th biggest holding. Boston Family Office LLC’s holdings in First Republic Bank were worth $13,466,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Cerebellum GP LLC acquired a new stake in First Republic Bank during the 4th quarter worth about $127,000. Zions Bancorporation acquired a new stake in First Republic Bank during the 3rd quarter worth about $160,000. Mawer Investment Management Ltd. acquired a new stake in First Republic Bank during the 3rd quarter worth about $209,000. Cambridge Investment Research Advisors Inc. acquired a new stake in First Republic Bank during the 3rd quarter worth about $209,000. Finally, Brookmont Capital Management acquired a new stake in shares of First Republic Bank in the 3rd quarter valued at about $210,000. Hedge funds and other institutional investors own 98.59% of the company’s stock.
Several analysts have recently commented on FRC shares. Zacks Investment Research downgraded First Republic Bank from a “hold” rating to a “sell” rating in a research note on Monday, January 22nd. Royal Bank of Canada restated a “hold” rating on shares of First Republic Bank in a research note on Wednesday, January 17th. Barclays raised their target price on First Republic Bank from $98.00 to $101.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Morgan Stanley restated an “equal weight” rating and issued a $106.00 target price on shares of First Republic Bank in a research note on Thursday, December 14th. Finally, Piper Jaffray Companies set a $99.00 target price on First Republic Bank and gave the company a “hold” rating in a research note on Sunday, October 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $101.54.
First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.05). The company had revenue of $699.20 million for the quarter, compared to analyst estimates of $688.48 million. First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. First Republic Bank’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. equities research analysts expect that First Republic Bank will post 4.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 8th. Shareholders of record on Thursday, January 25th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, January 24th. This represents a $0.68 dividend on an annualized basis and a yield of 0.77%. First Republic Bank’s dividend payout ratio (DPR) is currently 15.78%.
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About First Republic Bank
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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