First Mercantile Trust Co. decreased its holdings in shares of First Republic Bank (NYSE:FRC) by 38.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,700 shares of the bank’s stock after selling 1,700 shares during the quarter. First Mercantile Trust Co.’s holdings in First Republic Bank were worth $259,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. SRS Capital Advisors Inc. bought a new stake in shares of First Republic Bank in the 3rd quarter worth approximately $100,000. Capital Advisors Ltd. LLC bought a new stake in shares of First Republic Bank in the 3rd quarter worth approximately $156,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of First Republic Bank in the 3rd quarter worth approximately $212,000. Visionary Asset Management Inc. bought a new stake in shares of First Republic Bank in the 2nd quarter worth approximately $225,000. Finally, Wetherby Asset Management Inc. bought a new stake in shares of First Republic Bank in the 3rd quarter worth approximately $244,000.

First Republic Bank stock opened at $93.96 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.50. The company has a market cap of $14.82 billion, a P/E ratio of 20.34, a P/E/G ratio of 1.63 and a beta of 0.79. First Republic Bank has a one year low of $84.47 and a one year high of $106.75.

First Republic Bank (NYSE:FRC) last posted its earnings results on Friday, October 12th. The bank reported $1.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by ($0.01). The company had revenue of $768.83 million for the quarter, compared to the consensus estimate of $765.80 million. First Republic Bank had a return on equity of 11.47% and a net margin of 24.05%. During the same quarter last year, the business earned $1.14 EPS. On average, equities research analysts forecast that First Republic Bank will post 4.74 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Investors of record on Thursday, October 25th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, October 24th. This represents a $0.72 annualized dividend and a dividend yield of 0.77%. First Republic Bank’s dividend payout ratio (DPR) is presently 16.71%.

FRC has been the subject of a number of research reports. Raymond James set a $104.00 price objective on First Republic Bank and gave the stock a “buy” rating in a research report on Monday, October 15th. Piper Jaffray Companies reiterated a “hold” rating and issued a $94.00 price objective on shares of First Republic Bank in a research report on Tuesday, October 9th. Finally, Royal Bank of Canada raised their price objective on First Republic Bank to $102.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 13th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $102.46.

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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 of 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, and passbook deposits, as well as certificates of deposit.

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

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