Stifel Financial Corp Boosts Stake in First Republic Bank (NYSE:FRC)

Stifel Financial Corp raised its position in First Republic Bank (NYSE:FRC) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 132,738 shares of the bank’s stock after purchasing an additional 12,907 shares during the quarter. Stifel Financial Corp’s holdings in First Republic Bank were worth $24,843,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC purchased a new position in First Republic Bank in the second quarter valued at approximately $40,000. FORA Capital LLC purchased a new position in shares of First Republic Bank in the 1st quarter valued at $53,000. CX Institutional boosted its position in First Republic Bank by 29.2% during the 2nd quarter. CX Institutional now owns 345 shares of the bank’s stock worth $65,000 after purchasing an additional 78 shares during the period. SRS Capital Advisors Inc. purchased a new position in First Republic Bank in the second quarter valued at about $114,000. Finally, Clean Yield Group acquired a new stake in shares of First Republic Bank in the second quarter valued at about $115,000. 96.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of FRC opened at $204.85 on Thursday. The firm has a fifty day moving average of $198.83 and a 200-day moving average of $190.43. The company has a market cap of $35.27 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.97. First Republic Bank has a 1 year low of $120.03 and a 1 year high of $207.66.

First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Wednesday, October 13th. The bank reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.07. First Republic Bank had a net margin of 26.82% and a return on equity of 12.40%. During the same quarter in the prior year, the business posted $1.61 EPS. Analysts predict that First Republic Bank will post 7.45 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 12th. Shareholders of record on Thursday, October 28th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.43%. First Republic Bank’s payout ratio is currently 15.15%.

Several brokerages have recently weighed in on FRC. Maxim Group upped their target price on shares of First Republic Bank from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 14th. Barclays upped their target price on shares of First Republic Bank from $177.00 to $205.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 14th. Morgan Stanley lifted their price target on First Republic Bank from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, August 2nd. Credit Suisse Group upped their price objective on First Republic Bank from $163.00 to $180.00 and gave the company an “underperform” rating in a research note on Wednesday, July 14th. Finally, Keefe, Bruyette & Woods lifted their target price on First Republic Bank from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $186.31.

First Republic Bank Company Profile

First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.

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

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