Advisory Services Network LLC raised its position in shares of First Republic Bank (NYSE:FRC) by 360.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,087 shares of the bank’s stock after acquiring an additional 851 shares during the period. Advisory Services Network LLC’s holdings in First Republic Bank were worth $109,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Pearl River Capital LLC purchased a new position in shares of First Republic Bank in the 4th quarter valued at approximately $26,000. Destination Wealth Management acquired a new position in First Republic Bank in the 1st quarter worth approximately $32,000. Carroll Financial Associates Inc. increased its holdings in First Republic Bank by 112.6% in the 1st quarter. Carroll Financial Associates Inc. now owns 404 shares of the bank’s stock worth $40,000 after buying an additional 214 shares during the period. Portfolio Solutions LLC acquired a new position in First Republic Bank in the 4th quarter worth approximately $43,000. Finally, Captrust Financial Advisors increased its holdings in First Republic Bank by 199.4% in the 4th quarter. Captrust Financial Advisors now owns 521 shares of the bank’s stock worth $45,000 after buying an additional 347 shares during the period.
Shares of First Republic Bank stock traded up $1.10 during trading hours on Thursday, hitting $95.86. 2,002,796 shares of the company were exchanged, compared to its average volume of 1,291,087. First Republic Bank has a 1 year low of $79.42 and a 1 year high of $107.75. The company has a quick ratio of 0.99, a current ratio of 1.01 and a debt-to-equity ratio of 1.34. The firm has a 50-day simple moving average of $97.72. The firm has a market capitalization of $15.77 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 1.89 and a beta of 0.89.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, July 24th. First Republic Bank’s dividend payout ratio (DPR) is 15.80%.
A number of equities research analysts have recently commented on FRC shares. Raymond James cut shares of First Midwest Bancorp to a “hold” rating in a research note on Monday, July 8th. Wells Fargo & Co set a $68.00 price target on shares of Emergent Biosolutions and gave the company a “hold” rating in a research note on Tuesday, April 2nd. BMO Capital Markets raised their price objective on Citigroup from $92.00 to $93.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Zacks Investment Research upgraded SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Friday, July 5th. Finally, ValuEngine lowered Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $103.08.
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 in 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, passbook deposits, and individual retirement accounts, as well as certificates of deposit.
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