First Republic Bank (FRC) Stake Boosted by Marathon Asset Management LLP
Marathon Asset Management LLP lifted its position in shares of First Republic Bank (NYSE:FRC) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 435,590 shares of the bank’s stock after purchasing an additional 6,842 shares during the quarter. Marathon Asset Management LLP’s holdings in First Republic Bank were worth $37,738,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation acquired a new stake in shares of First Republic Bank during the third quarter worth $160,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of First Republic Bank during the third quarter worth $209,000. Mawer Investment Management Ltd. acquired a new stake in shares of First Republic Bank during the third quarter worth $209,000. Brookmont Capital Management acquired a new stake in shares of First Republic Bank during the third quarter worth $210,000. Finally, Toronto Dominion Bank raised its holdings in shares of First Republic Bank by 8.9% during the second quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock worth $212,000 after acquiring an additional 173 shares during the period. 98.75% of the stock is currently owned by institutional investors.
Shares of First Republic Bank (NYSE:FRC) opened at $88.40 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.95 and a quick ratio of 0.94. First Republic Bank has a 52 week low of $84.56 and a 52 week high of $105.52. The stock has a market cap of $13,772.14, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 1.37 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Thursday, January 25th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $0.68 annualized dividend and a yield of 0.77%. First Republic Bank’s payout ratio is currently 15.78%.
A number of equities research analysts recently commented on FRC shares. Jefferies Group raised their price objective 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. Maxim Group restated a “buy” rating and set a $110.00 price objective on shares of First Republic Bank in a report on Thursday, January 4th. Barclays lowered shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $108.00 to $104.00 in a report on Tuesday, October 10th. Morgan Stanley restated an “equal weight” rating and set a $106.00 price objective on shares of First Republic Bank in a report on Thursday, December 14th. Finally, Zacks Investment Research upgraded shares of First Republic Bank from a “sell” rating to a “hold” rating in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $102.21.
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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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