First Republic Bank (FRC) Stake Lowered by Vigilant Capital Management LLC
Vigilant Capital Management LLC lowered its position in First Republic Bank (NYSE:FRC) by 1.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,158 shares of the company’s stock after selling 1,965 shares during the period. First Republic Bank accounts for 1.6% of Vigilant Capital Management LLC’s holdings, making the stock its 20th largest position. Vigilant Capital Management LLC owned 0.08% of First Republic Bank worth $9,034,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Global X Management Co. LLC boosted its stake in shares of First Republic Bank by 180.5% in the second quarter. Global X Management Co. LLC now owns 1,798 shares of the company’s stock worth $126,000 after buying an additional 1,157 shares during the period. Capstone Asset Management Co. purchased a new stake in shares of First Republic Bank during the third quarter worth about $204,000. Raymond James Trust N.A. purchased a new stake in shares of First Republic Bank during the second quarter worth about $208,000. Profund Advisors LLC purchased a new stake in shares of First Republic Bank during the second quarter worth about $211,000. Finally, World Asset Management Inc boosted its stake in shares of First Republic Bank by 10.4% in the second quarter. World Asset Management Inc now owns 3,380 shares of the company’s stock worth $237,000 after buying an additional 319 shares during the period. Institutional investors and hedge funds own 99.31% of the company’s stock.
First Republic Bank (NYSE:FRC) traded up 0.50% on Wednesday, reaching $81.94. 479,665 shares of the company traded hands. The stock has a market capitalization of $12.30 billion, a PE ratio of 21.90 and a beta of 0.93. The firm has a 50 day moving average of $77.69 and a 200-day moving average of $73.79. First Republic Bank has a one year low of $56.32 and a one year high of $86.32.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Thursday, October 13th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. The company earned $557.90 million during the quarter, compared to analysts’ expectations of $592.65 million. First Republic Bank had a return on equity of 12.95% and a net margin of 27.68%. First Republic Bank’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, analysts anticipate that First Republic Bank will post $3.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Thursday, October 27th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend was Tuesday, October 25th. First Republic Bank’s dividend payout ratio (DPR) is presently 17.34%.
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Several research firms have weighed in on FRC. Zacks Investment Research upgraded shares of First Republic Bank from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Wednesday, November 16th. Keefe, Bruyette & Woods restated a “hold” rating on shares of First Republic Bank in a research report on Friday, October 14th. FBR & Co raised their price objective on shares of First Republic Bank from $73.00 to $80.00 and gave the company a “mkt perform” rating in a research report on Friday, October 14th. Maxim Group raised their price objective on shares of First Republic Bank from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, October 14th. Finally, Jefferies Group restated a “buy” rating and issued a $85.00 price objective on shares of First Republic Bank in a research report on Wednesday, October 19th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. First Republic Bank has an average rating of “Buy” and an average target price of $80.55.
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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