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.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.05). First Republic Bank had a net margin of 26.02% and a return on equity of 12.05%. The business had revenue of $699.20 million during the quarter, compared to analyst estimates of $688.48 million. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. equities research analysts anticipate that First Republic Bank will post 5.13 earnings per share for the current fiscal year.

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.

COPYRIGHT VIOLATION NOTICE: “First Republic Bank (FRC) Stake Boosted by Marathon Asset Management LLP” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://www.thecerbatgem.com/2018/01/18/first-republic-bank-frc-stake-boosted-by-marathon-asset-management-llp.html.

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.

Want to see what other hedge funds are holding FRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Republic Bank (NYSE:FRC).

Institutional Ownership by Quarter for First Republic Bank (NYSE:FRC)

Receive News & Stock Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related stocks with our FREE daily email newsletter.