First Republic Bank (NYSE:FRC) Shares Sold by Alpha Paradigm Partners LLC

Alpha Paradigm Partners LLC lessened its stake in shares of First Republic Bank (NYSE:FRCGet Rating) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,671 shares of the bank’s stock after selling 252 shares during the quarter. Alpha Paradigm Partners LLC’s holdings in First Republic Bank were worth $552,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Credit Suisse AG grew its position in First Republic Bank by 0.3% in the fourth quarter. Credit Suisse AG now owns 267,381 shares of the bank’s stock worth $55,217,000 after buying an additional 889 shares during the last quarter. State Street Corp grew its position in First Republic Bank by 1.1% in the fourth quarter. State Street Corp now owns 9,496,400 shares of the bank’s stock worth $1,961,102,000 after buying an additional 104,044 shares during the last quarter. LPL Financial LLC grew its position in First Republic Bank by 7.3% in the fourth quarter. LPL Financial LLC now owns 59,678 shares of the bank’s stock worth $12,324,000 after buying an additional 4,071 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in First Republic Bank in the fourth quarter worth approximately $342,000. Finally, Blair William & Co. IL grew its position in First Republic Bank by 1.7% in the fourth quarter. Blair William & Co. IL now owns 6,743 shares of the bank’s stock worth $1,393,000 after buying an additional 110 shares during the last quarter. Institutional investors and hedge funds own 94.41% of the company’s stock.

Several research analysts have issued reports on FRC shares. Royal Bank of Canada lifted their price target on shares of First Republic Bank from $184.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 14th. Credit Suisse Group raised shares of First Republic Bank from an “underperform” rating to a “neutral” rating and set a $187.00 price objective for the company in a research note on Tuesday, April 5th. Wolfe Research decreased their price objective on shares of First Republic Bank from $194.00 to $157.00 and set an “outperform” rating for the company in a research note on Thursday. Piper Sandler decreased their price objective on shares of First Republic Bank from $205.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, March 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of First Republic Bank from $209.00 to $178.00 and set a “neutral” rating for the company in a research note on Monday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $200.14.

Shares of First Republic Bank stock traded up $4.27 during midday trading on Friday, reaching $157.41. 672,085 shares of the company’s stock traded hands, compared to its average volume of 1,365,526. The company has a market cap of $28.28 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11. The company’s 50 day simple moving average is $155.06 and its 200 day simple moving average is $177.91. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.94 and a current ratio of 0.92. First Republic Bank has a 52 week low of $136.31 and a 52 week high of $222.86.

First Republic Bank (NYSE:FRCGet Rating) last released its quarterly earnings results on Wednesday, April 13th. The bank reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.10. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.40 billion. First Republic Bank had a net margin of 27.93% and a return on equity of 12.91%. First Republic Bank’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.79 EPS. As a group, equities research analysts predict that First Republic Bank will post 8.4 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Thursday, April 28th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, April 27th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.69%. This is an increase from First Republic Bank’s previous quarterly dividend of $0.22. First Republic Bank’s dividend payout ratio (DPR) is currently 13.71%.

First Republic Bank Profile (Get Rating)

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. It operates in two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as noninterest-bearing checking, interest-bearing checking, money market checking accounts, money market savings accounts, and passbook accounts, as well as certificates of deposit.

Further Reading

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

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