Toronto Dominion Bank Acquires 4,525 Shares of First Republic Bank (FRC)
Toronto Dominion Bank increased its holdings in shares of First Republic Bank (NYSE:FRC) by 213.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,642 shares of the bank’s stock after buying an additional 4,525 shares during the period. Toronto Dominion Bank’s holdings in First Republic Bank were worth $694,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in First Republic Bank by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 12,886,696 shares of the bank’s stock worth $1,289,958,000 after buying an additional 641,309 shares during the period. BlackRock Inc. raised its holdings in First Republic Bank by 8.9% during the 2nd quarter. BlackRock Inc. now owns 10,708,811 shares of the bank’s stock worth $1,071,954,000 after purchasing an additional 876,812 shares during the last quarter. Capital World Investors raised its holdings in First Republic Bank by 6.5% during the 2nd quarter. Capital World Investors now owns 8,068,025 shares of the bank’s stock worth $807,609,000 after purchasing an additional 490,000 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in First Republic Bank by 13.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,745,564 shares of the bank’s stock worth $675,230,000 after purchasing an additional 793,964 shares during the last quarter. Finally, State Street Corp raised its holdings in First Republic Bank by 20.3% during the 2nd quarter. State Street Corp now owns 5,995,443 shares of the bank’s stock worth $600,135,000 after purchasing an additional 1,010,648 shares during the last quarter. Institutional investors and hedge funds own 99.07% of the company’s stock.
First Republic Bank (NYSE:FRC) traded up $0.19 during trading hours on Friday, hitting $92.98. 899,700 shares of the stock traded hands, compared to its average volume of 980,377. The company has a market cap of $14,668.20, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.73 and a beta of 0.99. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55. First Republic Bank has a 12 month low of $80.55 and a 12 month high of $105.52.
First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The business’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 EPS. equities research analysts anticipate that First Republic Bank will post 4.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Thursday, October 26th were paid a $0.17 dividend. The ex-dividend date was Wednesday, October 25th. This represents a $0.68 annualized dividend and a dividend yield of 0.73%. First Republic Bank’s dividend payout ratio is currently 16.04%.
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Several research analysts have issued reports on the stock. Piper Jaffray Companies set a $99.00 price target on shares of First Republic Bank and gave the stock a “hold” rating in a report on Sunday, October 15th. Jefferies Group LLC raised their price target on shares of First Republic Bank from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Barclays PLC lowered shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $108.00 to $104.00 in a report on Tuesday, October 10th. Wells Fargo & Company lowered their price target on shares of First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a report on Monday, October 16th. Finally, BMO Capital Markets lowered their price target on shares of First Republic Bank from $96.00 to $92.00 and set a “market perform” rating for the company in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $102.93.
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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