KCM Investment Advisors LLC boosted its holdings in First Republic Bank (NYSE:FRC) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,439 shares of the bank’s stock after purchasing an additional 200 shares during the quarter. KCM Investment Advisors LLC owned about 0.06% of First Republic Bank worth $12,031,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Equitable Holdings Inc. acquired a new position in shares of First Republic Bank during the 4th quarter worth $202,000. Capital Bank & Trust Co boosted its stake in shares of First Republic Bank by 45.0% during the 4th quarter. Capital Bank & Trust Co now owns 80,843 shares of the bank’s stock worth $9,495,000 after purchasing an additional 25,106 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of First Republic Bank by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 259,906 shares of the bank’s stock worth $30,526,000 after purchasing an additional 1,645 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of First Republic Bank by 16.8% during the 4th quarter. Janus Henderson Group PLC now owns 63,411 shares of the bank’s stock worth $7,448,000 after purchasing an additional 9,138 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of First Republic Bank during the 4th quarter worth about $406,000.
Shares of FRC traded down $1.23 during mid-day trading on Thursday, reaching $83.22. 549,519 shares of the stock traded hands, compared to its average volume of 2,067,464. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 2.19 and a beta of 0.91. The stock has a fifty day simple moving average of $103.27 and a 200 day simple moving average of $106.55. First Republic Bank has a 12-month low of $70.06 and a 12-month high of $122.34. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.55.
First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Tuesday, January 14th. The bank reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.12. The business had revenue of $877.50 million during the quarter, compared to the consensus estimate of $876.90 million. First Republic Bank had a net margin of 22.38% and a return on equity of 11.08%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.29 earnings per share. On average, equities research analysts expect that First Republic Bank will post 5.08 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on FRC shares. Barclays cut shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and set a $126.00 price target on the stock. in a research note on Monday, January 6th. Maxim Group restated a “buy” rating and issued a $130.00 price target on shares of First Republic Bank in a report on Friday, January 17th. Wells Fargo & Co lowered shares of First Republic Bank from an “equal weight” rating to an “underweight” rating and set a $100.00 price target on the stock. in a report on Monday, January 6th. They noted that the move was a valuation call. Morgan Stanley cut their price target on shares of First Republic Bank from $103.00 to $97.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 17th. Finally, Stephens raised their price target on shares of First Republic Bank from $121.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $112.57.
About First Republic Bank
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.
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