Douglas Lane & Associates LLC boosted its stake in First Republic Bank (NYSE:FRC) by 0.3% during the first quarter, Holdings Channel reports. The institutional investor owned 344,534 shares of the bank’s stock after buying an additional 1,118 shares during the period. Douglas Lane & Associates LLC owned approximately 0.22% of First Republic Bank worth $32,321,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. GLG LLC boosted its stake in First Republic Bank by 6.8% in the fourth quarter. GLG LLC now owns 8,269 shares of the bank’s stock valued at $762,000 after buying an additional 526 shares in the last quarter. Cabot Wealth Management Inc. boosted its stake in First Republic Bank by 0.6% in the third quarter. Cabot Wealth Management Inc. now owns 145,143 shares of the bank’s stock valued at $11,192,000 after buying an additional 840 shares in the last quarter. Systematic Financial Management LP boosted its stake in First Republic Bank by 0.3% in the fourth quarter. Systematic Financial Management LP now owns 111,973 shares of the bank’s stock valued at $10,317,000 after buying an additional 281 shares in the last quarter. Rainier Investment Management LLC boosted its stake in First Republic Bank by 19.4% in the third quarter. Rainier Investment Management LLC now owns 107,430 shares of the bank’s stock valued at $8,284,000 after buying an additional 17,430 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in First Republic Bank by 11.2% in the third quarter. Schroder Investment Management Group now owns 322,790 shares of the bank’s stock valued at $24,890,000 after buying an additional 32,555 shares in the last quarter. Institutional investors and hedge funds own 97.08% of the company’s stock.

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

Shares of First Republic Bank (NYSE:FRC) traded up 0.10% during trading on Friday, reaching $90.59. 1,045,596 shares of the company were exchanged. First Republic Bank has a 1-year low of $63.97 and a 1-year high of $97.43. The company has a market capitalization of $14.23 billion, a price-to-earnings ratio of 22.60 and a beta of 1.03. The stock’s 50 day moving average is $93.17 and its 200 day moving average is $88.18.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Thursday, April 13th. The bank reported $1.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.01. The company had revenue of $601.14 million for the quarter, compared to the consensus estimate of $626.14 million. First Republic Bank had a net margin of 27.98% and a return on equity of 12.38%. During the same quarter last year, the firm posted $0.88 EPS. Equities analysts anticipate that First Republic Bank will post $4.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 11th. Investors of record on Thursday, April 27th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Tuesday, April 25th. This is an increase from First Republic Bank’s previous quarterly dividend of $0.16. First Republic Bank’s dividend payout ratio (DPR) is currently 16.49%.

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FRC has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of First Republic Bank from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research note on Tuesday, January 17th. Maxim Group increased their target price on shares of First Republic Bank from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, January 17th. JMP Securities initiated coverage on shares of First Republic Bank in a research note on Thursday, February 2nd. They issued an “outperform” rating and a $111.00 target price on the stock. FBR & Co increased their target price on shares of First Republic Bank from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 17th. Finally, Wells Fargo & Co cut shares of First Republic Bank from an “outperform” rating to a “market perform” rating in a research note on Monday, January 9th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. First Republic Bank has a consensus rating of “Buy” and an average target price of $97.08.

First Republic Bank Company Profile

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.

5 Day Chart for NYSE:FRC

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