Victory Capital Management Inc. lifted its position in First Republic Bank (NYSE:FRC) by 31.2% in the fourth quarter, HoldingsChannel reports. The firm owned 162,115 shares of the bank’s stock after acquiring an additional 38,585 shares during the period. Victory Capital Management Inc.’s holdings in First Republic Bank were worth $14,046,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new position in shares of First Republic Bank in the third quarter valued at $388,000. California Capital Advisors Inc. bought a new stake in First Republic Bank in the third quarter valued at $639,000. Neuberger Berman Group LLC grew its position in First Republic Bank by 5.3% in the third quarter. Neuberger Berman Group LLC now owns 544,122 shares of the bank’s stock valued at $56,839,000 after acquiring an additional 27,551 shares during the period. Fox Run Management L.L.C. bought a new stake in First Republic Bank in the third quarter valued at $554,000. Finally, Toronto Dominion Bank grew its position in First Republic Bank by 213.7% in the third quarter. Toronto Dominion Bank now owns 6,642 shares of the bank’s stock valued at $694,000 after acquiring an additional 4,525 shares during the period. Institutional investors and hedge funds own 98.77% of the company’s stock.
Shares of First Republic Bank (FRC) opened at $91.17 on Wednesday. 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 $14,288.01, a price-to-earnings ratio of 21.01, a PEG ratio of 1.50 and a beta of 0.91. First Republic Bank has a 1-year low of $84.56 and a 1-year high of $105.52.
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 8th. Stockholders of record on Thursday, January 25th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Wednesday, January 24th. First Republic Bank’s payout ratio is presently 15.78%.
A number of analysts have weighed in on the company. Jefferies Group reiterated a “buy” rating and issued a $111.00 price target on shares of First Republic Bank in a research report on Thursday, October 19th. Zacks Investment Research cut First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Morgan Stanley reiterated an “equal weight” rating and issued a $106.00 price target on shares of First Republic Bank in a research report on Thursday, December 14th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Finally, Maxim Group reiterated a “buy” rating and issued a $110.00 price target on shares of First Republic Bank in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $101.54.
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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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