Wellington Shields Capital Management LLC Sells 750 Shares of First Republic Bank (FRC)
Wellington Shields Capital Management LLC cut its stake in shares of First Republic Bank (NYSE:FRC) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,365 shares of the bank’s stock after selling 750 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in First Republic Bank were worth $1,605,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Metropolitan Life Insurance Co. NY grew its holdings in First Republic Bank by 5.3% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 9,340 shares of the bank’s stock valued at $876,000 after buying an additional 472 shares during the period. Capstone Asset Management Co. lifted its position in First Republic Bank by 10.1% during the 2nd quarter. Capstone Asset Management Co. now owns 3,712 shares of the bank’s stock worth $372,000 after acquiring an additional 340 shares in the last quarter. Atria Investments LLC acquired a new position in First Republic Bank during the 2nd quarter worth approximately $231,000. NN Investment Partners Holdings N.V. lifted its position in First Republic Bank by 28.4% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 24,135 shares of the bank’s stock worth $2,416,000 after acquiring an additional 5,340 shares in the last quarter. Finally, Creative Planning lifted its position in First Republic Bank by 21.3% during the 2nd quarter. Creative Planning now owns 1,407 shares of the bank’s stock worth $141,000 after acquiring an additional 247 shares in the last quarter. 98.40% of the stock is owned by hedge funds and other institutional investors.
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Shares of First Republic Bank (FRC) traded up $1.37 on Tuesday, reaching $91.59. The company had a trading volume of 1,271,400 shares, compared to its average volume of 980,573. The company has a market cap of $14,232.79, a P/E ratio of 21.28, a P/E/G ratio of 1.68 and a beta of 0.99. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.95. First Republic Bank has a 52-week low of $80.55 and a 52-week high of $105.52.
First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). The business had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 EPS. equities analysts predict that First Republic Bank will post 4.37 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 26th were issued a $0.17 dividend. The ex-dividend date was Wednesday, October 25th. This represents a $0.68 annualized dividend and a dividend yield of 0.74%. First Republic Bank’s dividend payout ratio (DPR) is 16.04%.
A number of equities analysts have issued reports on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $111.00 target price on shares of First Republic Bank in a research report on Thursday, October 19th. Zacks Investment Research lowered First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Barclays PLC set a $102.00 target price on First Republic Bank and gave the company a “hold” rating in a research report on Monday, October 16th. Raymond James Financial, Inc. cut their target price on First Republic Bank from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, October 16th. Finally, Wells Fargo & Company cut their target price on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating on the stock in a research report on Monday, October 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $102.93.
First Republic Bank 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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