KAMES CAPITAL plc Acquires 37,109 Shares of First Republic Bank (NYSE:FRC)

KAMES CAPITAL plc grew its position in First Republic Bank (NYSE:FRC) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 369,394 shares of the bank’s stock after purchasing an additional 37,109 shares during the quarter. KAMES CAPITAL plc owned approximately 0.23% of First Republic Bank worth $37,109,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Vanguard Group Inc increased its stake in First Republic Bank by 0.3% in the third quarter. Vanguard Group Inc now owns 13,738,532 shares of the bank’s stock valued at $1,318,899,000 after purchasing an additional 46,588 shares during the period. BlackRock Inc. boosted its stake in First Republic Bank by 7.8% during the 4th quarter. BlackRock Inc. now owns 13,031,329 shares of the bank’s stock valued at $1,132,423,000 after acquiring an additional 948,394 shares during the last quarter. Capital Research Global Investors bought a new position in First Republic Bank during the 3rd quarter valued at $675,106,000. Baillie Gifford & Co. raised its holdings in shares of First Republic Bank by 7.9% during the fourth quarter. Baillie Gifford & Co. now owns 6,708,104 shares of the bank’s stock worth $582,934,000 after purchasing an additional 491,194 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of First Republic Bank by 1.9% during the third quarter. JPMorgan Chase & Co. now owns 6,498,231 shares of the bank’s stock worth $623,830,000 after purchasing an additional 121,115 shares during the period.

Shares of FRC traded up $0.24 during mid-day trading on Wednesday, reaching $103.24. 11,972 shares of the company were exchanged, compared to its average volume of 1,231,827. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.99 and a quick ratio of 0.99. First Republic Bank has a 52 week low of $79.42 and a 52 week high of $106.75. The company has a market capitalization of $16.03 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 1.55 and a beta of 0.92.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Friday, April 12th. The bank reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.04. The firm had revenue of $807.36 million during the quarter, compared to analysts’ expectations of $813.99 million. First Republic Bank had a return on equity of 11.56% and a net margin of 23.61%. During the same quarter last year, the firm posted $1.13 earnings per share. As a group, sell-side analysts anticipate that First Republic Bank will post 5.3 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Thursday, April 25th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.74%. This is a positive change from First Republic Bank’s previous quarterly dividend of $0.18. The ex-dividend date is Wednesday, April 24th. First Republic Bank’s payout ratio is presently 14.97%.

Several equities analysts have recently weighed in on FRC shares. Stephens restated a “buy” rating and set a $115.00 price objective on shares of First Republic Bank in a research report on Thursday, March 21st. Wells Fargo & Co raised their price objective on First Republic Bank from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. BMO Capital Markets reduced their price objective on First Republic Bank from $111.00 to $106.00 and set a “market perform” rating on the stock in a research note on Monday. Raymond James lowered First Republic Bank from an “outperform” rating to a “market perform” rating in a research note on Monday, January 7th. Finally, Zacks Investment Research lowered First Republic Bank from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $104.54.

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First Republic Bank Company Profile

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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