First Republic Bank (FRC) Stake Increased by MML Investors Services LLC

MML Investors Services LLC grew its holdings in shares of First Republic Bank (NYSE:FRC) by 61.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,645 shares of the bank’s stock after acquiring an additional 2,525 shares during the period. MML Investors Services LLC’s holdings in First Republic Bank were worth $638,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FRC. SRS Capital Advisors Inc. acquired a new stake in shares of First Republic Bank during the third quarter valued at about $100,000. Capital Advisors Ltd. LLC acquired a new stake in shares of First Republic Bank during the third quarter valued at about $156,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of First Republic Bank during the third quarter valued at about $212,000. Wetherby Asset Management Inc. acquired a new stake in shares of First Republic Bank during the third quarter valued at about $244,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of First Republic Bank during the second quarter valued at about $297,000.

Shares of FRC stock opened at $99.15 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.50. First Republic Bank has a one year low of $84.47 and a one year high of $106.75. The stock has a market cap of $15.64 billion, a PE ratio of 21.46, a P/E/G ratio of 1.72 and a beta of 0.79.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Friday, October 12th. The bank reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). First Republic Bank had a return on equity of 11.47% and a net margin of 24.05%. The company had revenue of $768.83 million for the quarter, compared to the consensus estimate of $765.80 million. During the same period in the previous year, the business posted $1.14 EPS. As a group, analysts anticipate that First Republic Bank will post 4.75 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Thursday, October 25th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, October 24th. This represents a $0.72 annualized dividend and a dividend yield of 0.73%. First Republic Bank’s payout ratio is 16.71%.

Several brokerages have recently weighed in on FRC. Piper Jaffray Companies restated a “hold” rating and set a $94.00 target price on shares of First Republic Bank in a research note on Tuesday, October 9th. Raymond James set a $104.00 target price on First Republic Bank and gave the company a “buy” rating in a research note on Monday, October 15th. Finally, Royal Bank of Canada raised their target price on First Republic Bank to $102.00 and gave the company a “sector perform” rating in a research note on Thursday, September 13th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $102.46.

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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 of 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, and passbook deposits, as well as certificates of deposit.

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

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