First Republic Bank (NYSE:FRC) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its stake in shares of First Republic Bank (NYSE:FRC – Get Rating) by 8.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 95,193 shares of the bank’s stock after acquiring an additional 7,705 shares during the period. Los Angeles Capital Management LLC owned about 0.05% of First Republic Bank worth $15,431,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quent Capital LLC acquired a new stake in shares of First Republic Bank in the fourth quarter valued at about $45,000. Cassady Schiller Wealth Management LLC acquired a new stake in shares of First Republic Bank in the fourth quarter valued at about $53,000. Benjamin F. Edwards & Company Inc. raised its position in shares of First Republic Bank by 53.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 276 shares of the bank’s stock valued at $57,000 after buying an additional 96 shares during the last quarter. Ellevest Inc. raised its position in shares of First Republic Bank by 84.3% in the first quarter. Ellevest Inc. now owns 306 shares of the bank’s stock valued at $50,000 after buying an additional 140 shares during the last quarter. Finally, Missouri Trust & Investment Co acquired a new stake in shares of First Republic Bank in the fourth quarter valued at about $71,000. 94.41% of the stock is currently owned by institutional investors and hedge funds.

First Republic Bank Stock Up 0.9 %

First Republic Bank stock opened at $163.96 on Friday. First Republic Bank has a twelve month low of $133.37 and a twelve month high of $222.86. The stock’s fifty day simple moving average is $150.82 and its 200-day simple moving average is $158.04. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $29.46 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.16 and a beta of 1.11.

First Republic Bank (NYSE:FRC – Get Rating) last posted its quarterly earnings data on Thursday, July 14th. The bank reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.11. First Republic Bank had a return on equity of 12.96% and a net margin of 27.65%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the company earned $1.95 earnings per share. The company’s revenue was up 22.6% on a year-over-year basis. As a group, equities analysts expect that First Republic Bank will post 8.58 earnings per share for the current fiscal year.

First Republic Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, July 28th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Wednesday, July 27th. First Republic Bank’s dividend payout ratio is currently 13.35%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FRC shares. Wolfe Research dropped their price objective on shares of First Republic Bank from $194.00 to $157.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. Wells Fargo & Company dropped their price objective on shares of First Republic Bank from $180.00 to $165.00 and set an “underweight” rating for the company in a report on Thursday, April 14th. Compass Point set a $175.00 price objective on shares of First Republic Bank in a report on Tuesday, July 19th. Atlantic Securities raised shares of First Republic Bank from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $210.00 to $188.00 in a report on Friday, July 1st. Finally, Jefferies Financial Group upped their price objective on shares of First Republic Bank from $170.00 to $171.00 in a report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $187.33.

About First Republic Bank

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First Republic Bank, together with its subsidiaries, provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. It operates in two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as noninterest-bearing checking, interest-bearing checking, money market checking accounts, money market savings accounts, and passbook accounts, as well as certificates of deposit.