Cobiz Wealth LLC trimmed its position in First Republic Bank (NYSE:FRC) by 26.4% during the second quarter, HoldingsChannel.com reports. The fund owned 4,699 shares of the bank’s stock after selling 1,684 shares during the period. Cobiz Wealth LLC’s holdings in First Republic Bank were worth $459,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Destination Wealth Management acquired a new stake in shares of First Republic Bank in the 1st quarter valued at approximately $32,000. Carroll Financial Associates Inc. raised its holdings in First Republic Bank by 112.6% during the 1st quarter. Carroll Financial Associates Inc. now owns 404 shares of the bank’s stock worth $40,000 after buying an additional 214 shares during the period. First Personal Financial Services raised its holdings in First Republic Bank by 61.5% during the 1st quarter. First Personal Financial Services now owns 507 shares of the bank’s stock worth $51,000 after buying an additional 193 shares during the period. Clean Yield Group acquired a new stake in First Republic Bank during the 1st quarter worth approximately $52,000. Finally, Hall Laurie J Trustee raised its holdings in First Republic Bank by 160.0% during the 1st quarter. Hall Laurie J Trustee now owns 650 shares of the bank’s stock worth $65,000 after buying an additional 400 shares during the period.
Shares of NYSE FRC traded up $0.38 during midday trading on Tuesday, reaching $96.97. The company’s stock had a trading volume of 1,973,000 shares, compared to its average volume of 1,299,366. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.01 and a quick ratio of 1.01. First Republic Bank has a fifty-two week low of $79.42 and a fifty-two week high of $107.75. The company has a market cap of $16.24 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.01 and a beta of 0.90. The stock has a 50 day simple moving average of $97.68.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Tuesday, July 16th. The bank reported $1.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.02). First Republic Bank had a net margin of 22.94% and a return on equity of 11.30%. The business had revenue of $819.38 million during the quarter, compared to analyst estimates of $836.26 million. During the same quarter last year, the business earned $1.20 earnings per share. On average, research analysts predict that First Republic Bank will post 5.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th will be issued a $0.19 dividend. The ex-dividend date is Wednesday, July 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.78%. First Republic Bank’s dividend payout ratio (DPR) is presently 15.80%.
Several brokerages have commented on FRC. Zacks Investment Research upgraded shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, July 5th. Maxim Group restated a “buy” rating and set a $110.00 target price on shares of First Republic Bank in a report on Wednesday, July 17th. Wedbush restated an “outperform” rating on shares of WNS in a report on Tuesday, July 16th. Credit Suisse Group restated a “buy” rating and set a $90.00 target price on shares of Bayerische Motoren Werke in a report on Thursday, July 18th. Finally, Wells Fargo & Co set a $68.00 target price on shares of Emergent Biosolutions and gave the stock a “hold” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. First Republic Bank presently has a consensus rating of “Hold” and a consensus price target of $103.08.
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.
Further Reading: Capital Gains
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