First Republic Bank (FRC) is Cabot Wealth Management Inc.’s 5th Largest Position

Cabot Wealth Management Inc. reduced its position in First Republic Bank (NYSE:FRC) by 1.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 116,210 shares of the bank’s stock after selling 1,258 shares during the period. First Republic Bank comprises approximately 2.7% of Cabot Wealth Management Inc.’s holdings, making the stock its 5th biggest holding. Cabot Wealth Management Inc. owned 0.07% of First Republic Bank worth $12,139,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. lifted its holdings in 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 buying an additional 5 shares in the last quarter. Alps Advisors Inc. lifted its holdings in First Republic Bank by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 4,979 shares of the bank’s stock worth $498,000 after buying an additional 13 shares in the last quarter. Global X Management Co. LLC lifted its holdings in First Republic Bank by 1.1% in the 2nd quarter. Global X Management Co. LLC now owns 5,935 shares of the bank’s stock worth $594,000 after buying an additional 62 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in First Republic Bank by 3.2% in the 2nd quarter. D.A. Davidson & CO. now owns 2,612 shares of the bank’s stock worth $261,000 after buying an additional 81 shares in the last quarter. Finally, World Asset Management Inc increased its position in shares of First Republic Bank by 1.7% in the 2nd quarter. World Asset Management Inc now owns 6,776 shares of the bank’s stock worth $678,000 after purchasing an additional 115 shares during the last quarter. 97.98% of the stock is owned by hedge funds and other institutional investors.

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Several research firms have recently weighed in on FRC. Jefferies Group LLC reissued 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 downgraded shares of 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 price objective on shares of First Republic Bank and gave the company a “hold” rating in a research report on Monday, October 16th. Raymond James Financial, Inc. decreased their target price on shares of First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, October 16th. Finally, Wells Fargo & Company decreased 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 research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. First Republic Bank currently has an average rating of “Hold” and an average target price of $102.93.

Shares of First Republic Bank (FRC) traded down $0.77 during trading on Friday, reaching $90.22. 1,304,900 shares of the company’s stock were exchanged, compared to its average volume of 1,682,987. The company has a market cap of $14,232.84, a P/E ratio of 21.28, a PEG ratio of 1.68 and a beta of 0.99. First Republic Bank has a 12-month low of $80.55 and a 12-month high of $105.52. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.55.

First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The firm had revenue of $670.30 million for the quarter, compared to analyst estimates 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 quarter last year, the business earned $1.00 EPS. analysts forecast that First Republic Bank will post 4.37 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, October 25th. First Republic Bank’s payout ratio is presently 16.04%.

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.

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

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