Veracity Capital LLC Boosts Stock Position in First Republic Bank (NYSE:FRC)

Veracity Capital LLC grew its holdings in First Republic Bank (NYSE:FRC) by 3.9% in the third quarter, Holdings Channel reports. The institutional investor owned 1,373 shares of the bank’s stock after acquiring an additional 51 shares during the quarter. Veracity Capital LLC’s holdings in First Republic Bank were worth $265,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Liberty Wealth Management LLC increased its position in shares of First Republic Bank by 18,784.8% in the second quarter. Liberty Wealth Management LLC now owns 6,232 shares of the bank’s stock valued at $33,000 after buying an additional 6,199 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of First Republic Bank in the second quarter valued at approximately $33,000. Clearstead Advisors LLC purchased a new stake in shares of First Republic Bank during the second quarter worth approximately $40,000. CX Institutional increased its position in shares of First Republic Bank by 29.2% during the second quarter. CX Institutional now owns 345 shares of the bank’s stock worth $65,000 after purchasing an additional 78 shares in the last quarter. Finally, Private Capital Group LLC increased its position in shares of First Republic Bank by 28.0% during the third quarter. Private Capital Group LLC now owns 411 shares of the bank’s stock worth $79,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 96.76% of the company’s stock.

Several analysts recently commented on the company. Royal Bank of Canada boosted their price target on First Republic Bank from $208.00 to $212.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 14th. Barclays boosted their price target on First Republic Bank from $205.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 14th. Morgan Stanley boosted their price target on First Republic Bank from $190.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 27th. Finally, JPMorgan Chase & Co. boosted their price target on First Republic Bank from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, October 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $204.50.

Shares of NYSE:FRC opened at $217.96 on Thursday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average of $209.35 and a two-hundred day moving average of $199.02. The stock has a market cap of $38.43 billion, a P/E ratio of 30.06, a PEG ratio of 1.76 and a beta of 1.12. First Republic Bank has a 52-week low of $128.60 and a 52-week high of $222.86.

First Republic Bank (NYSE:FRC) last issued its earnings results on Wednesday, October 13th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.07. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.27 billion. First Republic Bank had a return on equity of 12.47% and a net margin of 27.09%. During the same period in the prior year, the business earned $1.61 EPS. On average, equities analysts anticipate that First Republic Bank will post 7.55 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Thursday, October 28th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, October 27th. First Republic Bank’s dividend payout ratio (DPR) is presently 12.14%.

About First Republic Bank

First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.

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

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