Private Wealth Partners LLC Has $11.95 Million Stake in First Republic Bank (FRC)

Private Wealth Partners LLC lifted its position in shares of First Republic Bank (NYSE:FRC) by 58.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,367 shares of the bank’s stock after purchasing an additional 42,010 shares during the period. First Republic Bank accounts for approximately 2.4% of Private Wealth Partners LLC’s portfolio, making the stock its 14th largest position. Private Wealth Partners LLC owned 0.07% of First Republic Bank worth $11,947,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FRC. Metropolitan Life Insurance Co. NY boosted its holdings in shares of First Republic Bank by 5.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 9,340 shares of the bank’s stock worth $876,000 after purchasing an additional 472 shares during the period. Capstone Asset Management Co. boosted its holdings in shares of First Republic Bank by 10.1% during the second quarter. Capstone Asset Management Co. now owns 3,712 shares of the bank’s stock worth $372,000 after purchasing an additional 340 shares during the period. Atria Investments LLC purchased a new stake in shares of First Republic Bank during the second quarter worth about $231,000. NN Investment Partners Holdings N.V. boosted its holdings in shares of First Republic Bank by 28.4% during the second quarter. NN Investment Partners Holdings N.V. now owns 24,135 shares of the bank’s stock worth $2,416,000 after purchasing an additional 5,340 shares during the period. Finally, Creative Planning boosted its holdings in shares of First Republic Bank by 21.3% during the second quarter. Creative Planning now owns 1,407 shares of the bank’s stock worth $141,000 after purchasing an additional 247 shares during the period. Institutional investors own 98.40% of the company’s stock.

A number of research firms have recently weighed in on FRC. Wells Fargo & Company dropped 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. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $87.00 price target on shares of First Republic Bank in a research note on Friday, October 13th. BMO Capital Markets decreased 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 research note on Monday, October 16th. Royal Bank Of Canada reissued a “hold” rating on shares of First Republic Bank in a research note on Friday, September 29th. Finally, Zacks Investment Research downgraded shares of First Republic Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $102.93.

Shares of First Republic Bank (NYSE:FRC) traded down $0.77 during midday trading on Monday, hitting $90.22. 1,304,900 shares of the company’s stock were exchanged, compared to its average volume of 979,239. First Republic Bank has a fifty-two week low of $80.55 and a fifty-two week high of $105.52. The company has a market capitalization of $14,232.79, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 1.68 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 (NYSE:FRC) last announced its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.02). First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The business had revenue of $670.30 million for the quarter, compared to the consensus estimate of $678.25 million. During the same period in the prior year, the business posted $1.00 EPS. First Republic Bank’s revenue for the quarter was up 20.1% on a year-over-year basis. research analysts forecast that First Republic Bank will post 4.37 earnings per share for the current year.

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

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

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