Candriam Luxembourg S.C.A. Has $1.61 Million Position in FIRST REPUBLIC BANK (NYSE:FRC)
Candriam Luxembourg S.C.A. raised its position in shares of FIRST REPUBLIC BANK (NYSE:FRC) by 21.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 16,078 shares of the bank’s stock after buying an additional 2,812 shares during the period. Candriam Luxembourg S.C.A.’s holdings in FIRST REPUBLIC BANK were worth $1,609,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Covenant Asset Management LLC boosted its stake in FIRST REPUBLIC BANK by 3.5% in the first quarter. Covenant Asset Management LLC now owns 28,377 shares of the bank’s stock worth $2,662,000 after buying an additional 968 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in FIRST REPUBLIC BANK during the first quarter worth $1,107,000. Barometer Capital Management Inc. boosted its stake in FIRST REPUBLIC BANK by 19.2% in the first quarter. Barometer Capital Management Inc. now owns 90,200 shares of the bank’s stock worth $8,462,000 after buying an additional 14,500 shares in the last quarter. DnB Asset Management AS acquired a new stake in FIRST REPUBLIC BANK during the first quarter worth $1,144,000. Finally, SFE Investment Counsel acquired a new stake in FIRST REPUBLIC BANK during the first quarter worth $1,864,000. Institutional investors own 99.64% of the company’s stock.
Shares of FIRST REPUBLIC BANK (NYSE FRC) opened at 97.37 on Friday. FIRST REPUBLIC BANK has a 52-week low of $72.08 and a 52-week high of $104.17. The stock’s 50 day moving average price is $100.81 and its 200-day moving average price is $95.90. The firm has a market cap of $15.35 billion, a PE ratio of 23.75 and a beta of 0.99.
FIRST REPUBLIC BANK (NYSE:FRC) last released its quarterly earnings data on Friday, July 14th. The bank reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.09 by $0.03. The business had revenue of $641.30 million for the quarter, compared to analyst estimates of $671.27 million. FIRST REPUBLIC BANK had a return on equity of 12.16% and a net margin of 27.37%. FIRST REPUBLIC BANK’s revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 EPS. On average, equities research analysts anticipate that FIRST REPUBLIC BANK will post $4.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 10th. Investors of record on Thursday, July 27th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, July 25th. This represents a $0.68 annualized dividend and a yield of 0.70%. FIRST REPUBLIC BANK’s dividend payout ratio (DPR) is 16.59%.
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A number of research firms have weighed in on FRC. Royal Bank Of Canada restated a “hold” rating and issued a $98.00 price target on shares of FIRST REPUBLIC BANK in a research note on Friday, July 7th. Barclays PLC restated an “equal weight” rating and issued a $110.00 price target (up from $101.00) on shares of FIRST REPUBLIC BANK in a research note on Wednesday, July 12th. Morgan Stanley restated an “equal weight” rating and issued a $104.00 price target (up from $102.00) on shares of FIRST REPUBLIC BANK in a research note on Thursday, July 6th. BidaskClub cut FIRST REPUBLIC BANK from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Maxim Group restated a “buy” rating and issued a $110.00 price target (up from $105.00) on shares of FIRST REPUBLIC BANK in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $104.54.
About FIRST REPUBLIC BANK
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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