First Republic Bank (FRC) Position Boosted by Howland Capital Management LLC

Howland Capital Management LLC lifted its position in shares of First Republic Bank (NYSE:FRC) by 7.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 148,098 shares of the bank’s stock after buying an additional 10,200 shares during the period. First Republic Bank accounts for approximately 1.3% of Howland Capital Management LLC’s portfolio, making the stock its 28th largest holding. Howland Capital Management LLC owned approximately 0.09% of First Republic Bank worth $15,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. lifted its stake in shares of First Republic Bank by 0.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock valued at $195,000 after buying an additional 5 shares during the period. Alps Advisors Inc. lifted its stake in shares of First Republic Bank by 0.3% during the second quarter. Alps Advisors Inc. now owns 4,979 shares of the bank’s stock valued at $498,000 after buying an additional 13 shares during the period. Somerset Trust Co lifted its stake in shares of First Republic Bank by 0.4% during the second quarter. Somerset Trust Co now owns 9,186 shares of the bank’s stock valued at $919,000 after buying an additional 40 shares during the period. Global X Management Co. LLC lifted its stake in shares of First Republic Bank by 1.1% during the second quarter. Global X Management Co. LLC now owns 5,935 shares of the bank’s stock valued at $594,000 after buying an additional 62 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its stake in shares of First Republic Bank by 0.3% during the second quarter. Xact Kapitalforvaltning AB now owns 19,486 shares of the bank’s stock valued at $1,951,000 after buying an additional 65 shares during the period. 97.80% of the stock is currently owned by institutional investors and hedge funds.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Friday, October 13th. The bank reported $1.14 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.02). First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The company had revenue of $670.30 million for the quarter, compared to analysts’ expectations of $678.25 million. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue for the quarter was up 20.1% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 26th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, October 25th. First Republic Bank’s payout ratio is presently 16.04%.

FRC has been the topic of several recent analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $109.00 price objective on shares of First Republic Bank in a research note on Friday, September 15th. Maxim Group reissued a “buy” rating and set a $110.00 price objective (up previously from $105.00) on shares of First Republic Bank in a research note on Friday, July 14th. Barclays PLC reissued an “equal weight” rating and set a $110.00 price objective (up previously from $101.00) on shares of First Republic Bank in a research note on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating and set a $104.00 price objective (up previously from $102.00) on shares of First Republic Bank in a research note on Thursday, July 6th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $99.00 price objective on shares of First Republic Bank in a research note on Friday, September 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $102.93.

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First Republic Bank 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.

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

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