First Republic Bank (FRC) Shares Bought by Gamco Investors INC. ET AL
Gamco Investors INC. ET AL increased its holdings in shares of First Republic Bank (NYSE:FRC) by 140.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the bank’s stock after buying an additional 5,840 shares during the quarter. Gamco Investors INC. ET AL’s holdings in First Republic Bank were worth $866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in FRC. Dimensional Fund Advisors LP grew its stake in First Republic Bank by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 566,596 shares of the bank’s stock worth $56,718,000 after buying an additional 3,128 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in First Republic Bank during the 2nd quarter worth $1,299,000. Cubist Systematic Strategies LLC purchased a new position in First Republic Bank during the 2nd quarter worth $341,000. Raymond James Financial Services Advisors Inc. grew its stake in First Republic Bank by 45.6% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 13,869 shares of the bank’s stock worth $1,388,000 after buying an additional 4,345 shares during the last quarter. Finally, Nomura Holdings Inc. grew its stake in First Republic Bank by 71.5% during the 2nd quarter. Nomura Holdings Inc. now owns 3,820 shares of the bank’s stock worth $383,000 after buying an additional 1,593 shares during the last quarter. Hedge funds and other institutional investors own 98.77% of the company’s stock.
Several brokerages recently weighed in on FRC. BMO Capital Markets dropped their target price on First Republic Bank from $96.00 to $92.00 and set a “market perform” rating on the stock in a research note on Monday, October 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Barclays lifted their price target on First Republic Bank from $98.00 to $101.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reaffirmed a “hold” rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Finally, Maxim Group reaffirmed a “buy” rating and set a $110.00 price target on shares of First Republic Bank in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. First Republic Bank presently has an average rating of “Hold” and a consensus price target of $101.54.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings data on Tuesday, January 16th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.05). The company had revenue of $699.20 million during the quarter, compared to analyst estimates of $688.48 million. First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. equities analysts forecast that First Republic Bank will post 4.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 8th. Stockholders of record on Thursday, January 25th were issued a $0.17 dividend. The ex-dividend date was Wednesday, January 24th. This represents a $0.68 annualized dividend and a dividend yield of 0.75%. First Republic Bank’s dividend payout ratio (DPR) is presently 15.78%.
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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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