Strs Ohio Buys 153 Shares of First Republic Bank (FRC)

Strs Ohio increased its stake in First Republic Bank (NYSE:FRC) by 7.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,100 shares of the bank’s stock after acquiring an additional 153 shares during the period. Strs Ohio’s holdings in First Republic Bank were worth $210,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FRC. Pearl River Capital LLC bought a new stake in shares of First Republic Bank during the fourth quarter valued at approximately $26,000. Carroll Financial Associates Inc. boosted its holdings in First Republic Bank by 112.6% in the first quarter. Carroll Financial Associates Inc. now owns 404 shares of the bank’s stock valued at $40,000 after purchasing an additional 214 shares during the last quarter. Portfolio Solutions LLC purchased a new stake in First Republic Bank in the fourth quarter valued at $43,000. Ipswich Investment Management Co. Inc. purchased a new stake in First Republic Bank in the fourth quarter valued at $45,000. Finally, Captrust Financial Advisors boosted its holdings in First Republic Bank by 199.4% in the fourth quarter. Captrust Financial Advisors now owns 521 shares of the bank’s stock valued at $45,000 after purchasing an additional 347 shares during the last quarter.

Shares of FRC traded up $0.72 during mid-day trading on Tuesday, hitting $99.56. 11,593 shares of the company were exchanged, compared to its average volume of 1,384,123. First Republic Bank has a 1-year low of $79.42 and a 1-year high of $107.75. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.19. The company has a market cap of $15.92 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92.

First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Friday, April 12th. The bank reported $1.26 earnings per share for the quarter, topping the 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 the consensus estimate of $813.99 million. During the same quarter in the prior year, the firm earned $1.13 EPS. As a group, sell-side analysts expect that First Republic Bank will post 5.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Thursday, April 25th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Wednesday, April 24th. This is an increase from First Republic Bank’s previous quarterly dividend of $0.18. First Republic Bank’s dividend payout ratio is 15.80%.

Several research firms have commented on FRC. Stephens reaffirmed a “buy” rating and issued a $115.00 price target on shares of First Republic Bank in a report on Thursday, March 21st. Atlantic Securities lowered shares of First Republic Bank from an “overweight” rating to a “neutral” rating and set a $104.98 target price on the stock. in a research note on Friday, March 1st. ValuEngine lowered shares of First Republic Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Bank of America reissued a “neutral” rating and set a $104.00 target price (up from $98.00) on shares of First Republic Bank in a research note on Tuesday, February 5th. Finally, Wells Fargo & Co increased their target price on shares of First Republic Bank from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 16th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $104.54.

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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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