Nicholas Investment Partners LP Takes Position in First Republic Bank (FRC)

Nicholas Investment Partners LP acquired a new stake in First Republic Bank (NYSE:FRC) during the fourth quarter, Holdings Channel reports. The firm acquired 40,355 shares of the company’s stock, valued at approximately $3,718,000.

Other hedge funds have also recently modified their holdings of the company. Jupiter Asset Management Ltd. raised its stake in shares of First Republic Bank by 255.4% in the fourth quarter. Jupiter Asset Management Ltd. now owns 138,256 shares of the company’s stock valued at $12,739,000 after buying an additional 99,356 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of First Republic Bank by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 530,960 shares of the company’s stock valued at $48,922,000 after buying an additional 10,574 shares during the last quarter. Prudential PLC purchased a new stake in shares of First Republic Bank during the fourth quarter valued at approximately $5,124,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of First Republic Bank by 7.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,284 shares of the company’s stock valued at $855,000 after buying an additional 605 shares during the last quarter. Finally, State Street Corp raised its stake in shares of First Republic Bank by 14.8% in the fourth quarter. State Street Corp now owns 5,046,316 shares of the company’s stock valued at $464,961,000 after buying an additional 651,265 shares during the last quarter. 97.08% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for First Republic Bank (NYSE:FRC)

Shares of First Republic Bank (NYSE:FRC) remained flat at $96.42 during trading on Wednesday. 307,995 shares of the stock traded hands. First Republic Bank has a 12-month low of $57.89 and a 12-month high of $97.29. The stock has a market capitalization of $14.88 billion, a price-to-earnings ratio of 24.53 and a beta of 1.03. The company has a 50-day moving average price of $93.38 and a 200 day moving average price of $82.10.

First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, January 13th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.02. The company earned $599.50 million during the quarter, compared to analyst estimates of $623.91 million. First Republic Bank had a return on equity of 12.38% and a net margin of 27.98%. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. On average, equities analysts expect that First Republic Bank will post $4.51 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 9th. Investors of record on Thursday, January 26th were paid a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, January 24th. This represents a $0.64 dividend on an annualized basis and a yield of 0.66%. First Republic Bank’s dividend payout ratio (DPR) is 16.49%.

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Several analysts recently commented on the company. JMP Securities assumed coverage on First Republic Bank in a report on Thursday, February 2nd. They issued an “outperform” rating and a $111.00 price objective for the company. Zacks Investment Research raised First Republic Bank from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a report on Tuesday, January 17th. Maxim Group lifted their price objective on First Republic Bank from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, January 17th. FBR & Co lifted their price objective on First Republic Bank from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, January 17th. Finally, Wells Fargo & Company downgraded First Republic Bank from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. First Republic Bank has a consensus rating of “Buy” and a consensus target price of $89.82.

First Republic Bank Company 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.

5 Day Chart for NYSE:FRC

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