Squar Milner Financial Services LLC Buys 520 Shares of First Republic Bank (NYSE:FRC)

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Squar Milner Financial Services LLC increased its stake in shares of First Republic Bank (NYSE:FRC) by 185.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 800 shares of the bank’s stock after acquiring an additional 520 shares during the period. Squar Milner Financial Services LLC’s holdings in First Republic Bank were worth $93,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its position in shares of First Republic Bank by 11.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 18,422 shares of the bank’s stock worth $2,164,000 after buying an additional 1,889 shares during the period. Huntington National Bank lifted its position in shares of First Republic Bank by 16.7% during the 4th quarter. Huntington National Bank now owns 893 shares of the bank’s stock worth $105,000 after buying an additional 128 shares during the period. Zeke Capital Advisors LLC bought a new position in shares of First Republic Bank during the 4th quarter worth approximately $243,000. Price Wealth LLC bought a new position in shares of First Republic Bank during the 4th quarter worth approximately $69,000. Finally, Patten & Patten Inc. TN lifted its position in shares of First Republic Bank by 22.6% during the 4th quarter. Patten & Patten Inc. TN now owns 2,713 shares of the bank’s stock worth $319,000 after buying an additional 500 shares during the period.

Several equities analysts recently commented on FRC shares. Bank of America raised their target price on First Republic Bank from $99.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Citigroup raised their target price on First Republic Bank from $121.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Royal Bank of Canada raised their target price on First Republic Bank from $110.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 15th. They noted that the move was a valuation call. Wells Fargo & Co downgraded First Republic Bank from an “equal weight” rating to an “underweight” rating and set a $100.00 target price for the company. in a research report on Monday, January 6th. They noted that the move was a valuation call. Finally, Barclays downgraded First Republic Bank from an “overweight” rating to an “equal weight” rating and set a $126.00 price objective for the company. in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $115.27.

NYSE FRC opened at $117.34 on Thursday. The stock has a fifty day moving average of $116.16 and a 200-day moving average of $103.38. The stock has a market capitalization of $19.73 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. First Republic Bank has a 52 week low of $87.43 and a 52 week high of $122.34. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.01 and a current ratio of 1.01.

First Republic Bank (NYSE:FRC) last released its earnings results on Tuesday, January 14th. The bank reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.12. The company had revenue of $877.50 million during the quarter, compared to analysts’ expectations of $876.90 million. First Republic Bank had a return on equity of 11.08% and a net margin of 22.38%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $1.29 EPS. Equities research analysts forecast that First Republic Bank will post 5.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Thursday, January 30th will be paid a $0.19 dividend. The ex-dividend date is Wednesday, January 29th. This represents a $0.76 annualized dividend and a dividend yield of 0.65%. First Republic Bank’s dividend payout ratio (DPR) is currently 14.62%.

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

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