First Republic Bank (FRC) Shares Bought by Grandeur Peak Global Advisors LLC
Grandeur Peak Global Advisors LLC grew its holdings in First Republic Bank (NYSE:FRC) by 0.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 235,900 shares of the bank’s stock after buying an additional 950 shares during the period. First Republic Bank makes up 3.8% of Grandeur Peak Global Advisors LLC’s portfolio, making the stock its 6th largest holding. Grandeur Peak Global Advisors LLC owned approximately 0.15% of First Republic Bank worth $24,642,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of First Republic Bank by 21.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock worth $132,000 after acquiring an additional 232 shares during the last quarter. Creative Planning lifted its holdings in shares of First Republic Bank by 21.3% in the 2nd quarter. Creative Planning now owns 1,407 shares of the bank’s stock worth $141,000 after acquiring an additional 247 shares during the last quarter. Peddock Capital Advisors LLC bought a new stake in shares of First Republic Bank in the 2nd quarter worth about $180,000. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of First Republic Bank by 0.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after acquiring an additional 5 shares during the last quarter. Finally, Cigna Investments Inc. New bought a new stake in shares of First Republic Bank in the 2nd quarter worth about $208,000. 99.14% of the stock is owned by institutional investors and hedge funds.
Shares of First Republic Bank (NYSE FRC) opened at $92.79 on Friday. First Republic Bank has a twelve month low of $87.65 and a twelve month high of $105.52. The firm has a market cap of $14,657.16, a PE ratio of 21.91, a P/E/G ratio of 1.73 and a beta of 0.96. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55.
The firm also recently declared 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 of this dividend 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%.
Several research firms have recently issued reports on FRC. Piper Jaffray Companies set a $99.00 target price on shares of First Republic Bank and gave the stock a “hold” rating in a report on Sunday, October 15th. Jefferies Group raised their target price 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 lowered shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $108.00 to $104.00 in a report on Tuesday, October 10th. Wells Fargo & Company lowered their target price 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 decreased their price objective 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 investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. First Republic Bank currently has an average rating of “Hold” and a consensus price target of $102.93.
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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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