KAMES CAPITAL plc Increases Position in First Republic Bank (NYSE:FRC)

KAMES CAPITAL plc lifted its holdings in First Republic Bank (NYSE:FRC) by 2.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 382,170 shares of the bank’s stock after purchasing an additional 8,392 shares during the quarter. KAMES CAPITAL plc’s holdings in First Republic Bank were worth $36,948,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in FRC. Patten Group Inc. increased its position in shares of First Republic Bank by 1.3% during the second quarter. Patten Group Inc. now owns 37,966 shares of the bank’s stock worth $3,707,000 after acquiring an additional 470 shares during the period. Insight Wealth Strategies LLC purchased a new position in First Republic Bank in the second quarter valued at $409,000. Parallel Advisors LLC increased its holdings in First Republic Bank by 47.1% in the second quarter. Parallel Advisors LLC now owns 1,562 shares of the bank’s stock valued at $153,000 after buying an additional 500 shares during the last quarter. Sumitomo Life Insurance Co. increased its holdings in First Republic Bank by 3.7% in the second quarter. Sumitomo Life Insurance Co. now owns 16,375 shares of the bank’s stock valued at $1,599,000 after buying an additional 585 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in First Republic Bank in the second quarter valued at $610,000.

FRC has been the topic of several recent analyst reports. Maxim Group increased their target price on First Republic Bank from $110.00 to $116.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Credit Suisse Group dropped their price objective on First Republic Bank from $105.00 to $98.00 and set a “neutral” rating on the stock in a report on Thursday, July 18th. Wells Fargo & Co lowered First Republic Bank from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $112.00 to $100.00 in a report on Wednesday, October 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered First Republic Bank from a “hold” rating to a “sell” rating and set a $104.00 price objective on the stock. in a report on Friday, July 5th. Finally, Citigroup raised their price objective on First Republic Bank from $111.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. First Republic Bank has an average rating of “Hold” and an average target price of $104.69.

Shares of FRC traded up $1.30 during mid-day trading on Monday, hitting $105.48. 25,732 shares of the company’s stock were exchanged, compared to its average volume of 1,179,880. First Republic Bank has a fifty-two week low of $79.42 and a fifty-two week high of $107.75. The firm has a market capitalization of $17.40 billion, a P/E ratio of 21.93, a P/E/G ratio of 3.52 and a beta of 0.89. The business’s 50 day moving average is $94.56 and its two-hundred day moving average is $97.76. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 1.43.

First Republic Bank (NYSE:FRC) last announced its earnings results on Tuesday, October 15th. The bank reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.10. First Republic Bank had a net margin of 22.69% and a return on equity of 11.23%. The business had revenue of $837.19 million during the quarter, compared to the consensus estimate of $830.60 million. During the same quarter in the prior year, the firm earned $1.19 earnings per share. On average, equities research analysts forecast that First Republic Bank will post 5.06 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.19 per share. The ex-dividend date is Wednesday, October 30th. This represents a $0.76 annualized dividend and a dividend yield of 0.72%. First Republic Bank’s dividend payout ratio (DPR) is 15.80%.

First Republic Bank Profile

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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

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