Gulf International Bank UK Ltd Grows Stake in First Republic Bank (FRC)

Gulf International Bank UK Ltd raised its holdings in shares of First Republic Bank (NYSE:FRC) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,654 shares of the bank’s stock after buying an additional 200 shares during the quarter. Gulf International Bank UK Ltd’s holdings in First Republic Bank were worth $3,782,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FRC. Norges Bank purchased a new stake in shares of First Republic Bank during the fourth quarter worth $103,154,000. BlackRock Inc. grew its holdings in shares of First Republic Bank by 7.8% during the fourth quarter. BlackRock Inc. now owns 13,031,329 shares of the bank’s stock worth $1,132,423,000 after buying an additional 948,394 shares in the last quarter. Parnassus Investments CA grew its holdings in shares of First Republic Bank by 18.6% during the fourth quarter. Parnassus Investments CA now owns 5,601,934 shares of the bank’s stock worth $486,808,000 after buying an additional 878,285 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of First Republic Bank by 57.4% during the fourth quarter. Geode Capital Management LLC now owns 2,097,305 shares of the bank’s stock worth $181,934,000 after buying an additional 764,661 shares in the last quarter. Finally, Baillie Gifford & Co. grew 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 buying an additional 491,194 shares in the last quarter.

Shares of FRC opened at $103.62 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.19. First Republic Bank has a 12-month low of $79.42 and a 12-month high of $106.75. The stock has a market capitalization of $16.35 billion, a P/E ratio of 21.54, a PEG ratio of 1.62 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 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.04. First Republic Bank had a net margin of 23.61% and a return on equity of 11.56%. The firm had revenue of $807.36 million during the quarter, compared to analyst estimates of $813.99 million. During the same quarter in the prior year, the firm posted $1.13 earnings per share. Equities research analysts anticipate that First Republic Bank will post 5.28 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, April 25th will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $0.76 dividend on an annualized basis and a yield of 0.73%. This is a boost from First Republic Bank’s previous quarterly dividend of $0.18. First Republic Bank’s dividend payout ratio is presently 14.97%.

FRC has been the subject of a number of research reports. ValuEngine raised shares of First Republic Bank from a “hold” rating to a “buy” rating in a report on Wednesday, January 16th. Maxim Group reissued a “buy” rating and issued a $110.00 price objective on shares of First Republic Bank in a report on Tuesday, January 15th. Stephens reissued a “buy” rating and issued a $115.00 price objective on shares of First Republic Bank in a report on Thursday, March 21st. Morgan Stanley dropped their price objective on shares of First Republic Bank from $95.00 to $94.00 and set an “equal weight” rating for the company in a report on Tuesday, January 8th. Finally, Zacks Investment Research raised shares of First Republic Bank from a “sell” rating to a “hold” rating in a report on Monday, January 14th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. First Republic Bank currently has an average rating of “Hold” and a consensus target price of $104.54.

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First Republic Bank 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.

See Also: Closed-End Mutual Funds

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

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