Segall Bryant & Hamill LLC lessened its holdings in First Republic Bank (NYSE:FRC) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,957 shares of the bank’s stock after selling 5,575 shares during the quarter. Segall Bryant & Hamill LLC owned 0.16% of First Republic Bank worth $26,111,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of First Republic Bank by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 12,886,696 shares of the bank’s stock valued at $1,289,958,000 after acquiring an additional 641,309 shares during the period. BlackRock Inc. grew its stake in First Republic Bank by 8.9% in the 2nd quarter. BlackRock Inc. now owns 10,708,811 shares of the bank’s stock worth $1,071,954,000 after acquiring an additional 876,812 shares during the period. Capital World Investors grew its stake in shares of First Republic Bank by 6.5% during the 2nd quarter. Capital World Investors now owns 8,068,025 shares of the bank’s stock valued at $807,609,000 after buying an additional 490,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in First Republic Bank by 0.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,792,426 shares of the bank’s stock worth $703,966,000 after buying an additional 46,862 shares in the last quarter. Finally, State Street Corp raised its stake in shares of First Republic Bank by 20.3% in the 2nd quarter. State Street Corp now owns 5,995,443 shares of the bank’s stock valued at $600,135,000 after purchasing an additional 1,010,648 shares in the last quarter. 99.14% of the stock is currently owned by institutional investors.
First Republic Bank (FRC) opened at $92.91 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55. The stock has a market cap of $14,797.56, a P/E ratio of 22.12, a PEG ratio of 1.75 and a beta of 0.96. First Republic Bank has a 1-year low of $85.70 and a 1-year high of $105.52.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, October 25th. This represents a $0.68 annualized dividend and a yield of 0.73%. First Republic Bank’s dividend payout ratio is 16.04%.
FRC has been the topic of several research reports. Barclays lowered shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $108.00 to $104.00 in a research note on Tuesday, October 10th. Royal Bank Of Canada restated a “hold” rating on shares of First Republic Bank in a research report on Friday, September 29th. Jefferies Group upped their target price on shares of First Republic Bank from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Piper Jaffray Companies restated a “hold” rating and issued a $99.00 target price on shares of First Republic Bank in a research report on Friday, September 1st. Finally, Zacks Investment Research cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $102.93.
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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