MAI Capital Management bought a new stake in First Republic Bank (NYSE:FRC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,435 shares of the bank’s stock, valued at approximately $644,000.
A number of other institutional investors have also recently modified their holdings of the stock. Northeast Investment Management increased its position in First Republic Bank by 7.7% in the 4th quarter. Northeast Investment Management now owns 135,656 shares of the bank’s stock valued at $11,753,000 after buying an additional 9,663 shares in the last quarter. Fiduciary Trust Co. increased its position in First Republic Bank by 24.3% in the 4th quarter. Fiduciary Trust Co. now owns 5,670 shares of the bank’s stock valued at $491,000 after buying an additional 1,110 shares in the last quarter. TIAA FSB increased its position in First Republic Bank by 7.2% in the 4th quarter. TIAA FSB now owns 102,001 shares of the bank’s stock valued at $8,837,000 after buying an additional 6,876 shares in the last quarter. BB&T Corp increased its position in First Republic Bank by 8.9% in the 4th quarter. BB&T Corp now owns 28,316 shares of the bank’s stock valued at $2,454,000 after buying an additional 2,308 shares in the last quarter. Finally, Pillar Pacific Capital Management LLC increased its position in First Republic Bank by 1.7% in the 4th quarter. Pillar Pacific Capital Management LLC now owns 59,890 shares of the bank’s stock valued at $5,189,000 after buying an additional 1,015 shares in the last quarter. 98.24% of the stock is owned by institutional investors and hedge funds.
Shares of First Republic Bank (NYSE FRC) opened at $89.55 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $14,237.52, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 1.49 and a beta of 0.96. First Republic Bank has a twelve month low of $84.56 and a twelve month high of $105.52.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 8th. Stockholders of record on Thursday, January 25th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, January 24th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.76%. First Republic Bank’s payout ratio is presently 15.78%.
A number of analysts recently commented on the company. Wells Fargo & Co decreased their target price on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a research report on Monday, October 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $87.00 target price on shares of First Republic Bank in a research report on Friday, October 13th. BMO Capital Markets decreased their target price on First Republic Bank from $96.00 to $92.00 and set a “market perform” rating for the company in a research report on Monday, October 16th. Zacks Investment Research lowered First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Jefferies Group reissued a “buy” rating and set a $111.00 price objective on shares of First Republic Bank in a report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. First Republic Bank currently has an average rating of “Hold” and a consensus target price of $102.21.
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First Republic Bank Profile
First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.
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