Trade Report: Today, First Republic Bank (FRC) Position Boosted by Howland Capital Management LLC

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

Howland Capital Management LLC raised its stake in First Republic Bank (NYSE:FRC) by 17.9% during the third quarter, Holdings Channel reports. The firm owned 126,502 shares of the company’s stock after buying an additional 19,225 shares during the period. Howland Capital Management LLC’s holdings in First Republic Bank were worth $9,755,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of FRC. Raymond James Trust N.A. raised its position in First Republic Bank by 0.6% in the third quarter. Raymond James Trust N.A. now owns 2,984 shares of the company’s stock valued at $230,000 after buying an additional 18 shares during the period. Franklin Resources Inc. raised its position in First Republic Bank by 1.4% in the second quarter. Franklin Resources Inc. now owns 3,904 shares of the company’s stock valued at $273,000 after buying an additional 55 shares during the period. Moody Lynn & Lieberson LLC raised its position in First Republic Bank by 1.3% in the second quarter. Moody Lynn & Lieberson LLC now owns 7,246 shares of the company’s stock valued at $507,000 after buying an additional 93 shares during the period. Cambridge Trust Co. raised its position in First Republic Bank by 4.1% in the second quarter. Cambridge Trust Co. now owns 4,811 shares of the company’s stock valued at $337,000 after buying an additional 188 shares during the period. Finally, BB&T Securities LLC raised its position in First Republic Bank by 6.3% in the second quarter. BB&T Securities LLC now owns 3,924 shares of the company’s stock valued at $274,000 after buying an additional 231 shares during the period. 99.31% of the stock is owned by hedge funds and other institutional investors.

Shares of First Republic Bank (NYSE:FRC) traded down 2.44% during trading on Monday, hitting $80.62. The stock had a trading volume of 1,016,578 shares. The firm has a market cap of $12.10 billion, a PE ratio of 21.54 and a beta of 0.93. The stock has a 50 day moving average of $77.63 and a 200 day moving average of $73.63. First Republic Bank has a 52-week low of $56.32 and a 52-week high of $86.32.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Thursday, October 13th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.01. The company had revenue of $557.90 million for the quarter, compared to the consensus estimate of $592.65 million. First Republic Bank had a net margin of 27.68% and a return on equity of 12.95%. First Republic Bank’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 EPS. On average, equities analysts anticipate that First Republic Bank will post $3.92 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th were issued a $0.16 dividend. The ex-dividend date was Tuesday, October 25th. This represents a $0.64 dividend on an annualized basis and a yield of 0.77%. First Republic Bank’s dividend payout ratio is currently 17.34%.

Several research analysts have recently weighed in on the company. Barclays PLC lifted their price objective on First Republic Bank from $78.00 to $84.00 and gave the stock an “overweight” rating in a research report on Thursday, August 11th. Zacks Investment Research raised First Republic Bank from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Monday, November 7th. Jefferies Group reaffirmed a “buy” rating and issued a $85.00 target price on shares of First Republic Bank in a research report on Wednesday, October 19th. Maxim Group boosted their target price on First Republic Bank from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, October 14th. Finally, Morgan Stanley lowered First Republic Bank from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $77.00 to $85.00 in a research report on Wednesday, November 16th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $80.55.

About First Republic Bank

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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