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First Republic Bank (FRC) Holdings Cut by Gerber Kawasaki Wealth & Investment Management – PressOracle

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Gerber Kawasaki Wealth & Investment Management cut its holdings in shares of First Republic Bank (NYSE:FRC) by 23.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,097 shares of the bank’s stock after selling 13,300 shares during the period. First Republic Bank makes up 1.3% of Gerber Kawasaki Wealth & Investment Management’s holdings, making the stock its 27th biggest holding. Gerber Kawasaki Wealth & Investment Management’s holdings in First Republic Bank were worth $3,832,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Capital Insight Partners LLC increased its position in shares of First Republic Bank by 0.8% during the fourth quarter. Capital Insight Partners LLC now owns 15,707 shares of the bank’s stock worth $1,365,000 after acquiring an additional 125 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its position in shares of First Republic Bank by 2.2% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 5,875 shares of the bank’s stock worth $511,000 after acquiring an additional 125 shares in the last quarter. Wetherby Asset Management Inc. increased its position in shares of First Republic Bank by 4.9% during the fourth quarter. Wetherby Asset Management Inc. now owns 2,663 shares of the bank’s stock worth $231,000 after acquiring an additional 125 shares in the last quarter. Comerica Securities Inc. grew its position in First Republic Bank by 4.1% in the 4th quarter. Comerica Securities Inc. now owns 4,084 shares of the bank’s stock worth $355,000 after purchasing an additional 160 shares in the last quarter. Finally, ETF Managers Group LLC grew its position in First Republic Bank by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 1,408 shares of the bank’s stock worth $122,000 after purchasing an additional 192 shares in the last quarter.

A number of brokerages have issued reports on FRC. Atlantic Securities downgraded shares of First Republic Bank from an “overweight” rating to a “neutral” rating and set a $104.98 price objective for the company. in a research report on Friday, March 1st. BMO Capital Markets upped their price objective on shares of First Republic Bank from $95.00 to $111.00 and gave the stock a “market perform” rating in a research report on Friday. Bank of America reaffirmed a “neutral” rating and issued a $104.00 price objective (up from $98.00) on shares of First Republic Bank in a research report on Tuesday, February 5th. ValuEngine raised shares of First Republic Bank from a “hold” rating to a “buy” rating in a research report on Wednesday, January 16th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $110.00 price objective on shares of First Republic Bank in a research report on Tuesday, January 15th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $102.57.

Shares of First Republic Bank stock traded up $0.64 on Friday, reaching $103.56. 1,444,319 shares of the company traded hands, compared to its average volume of 1,532,052. First Republic Bank has a 52 week low of $79.42 and a 52 week high of $106.75. The company has a market capitalization of $16.34 billion, a P/E ratio of 21.53, a P/E/G ratio of 1.55 and a beta of 0.93. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.34.

First Republic Bank (NYSE:FRC) last released its earnings results on Tuesday, January 15th. The bank reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. First Republic Bank had a net margin of 23.88% and a return on equity of 11.62%. The firm had revenue of $810.75 million during the quarter, compared to the consensus estimate of $812.10 million. During the same period in the prior year, the firm earned $1.10 EPS. The company’s revenue was up 16.0% compared to the same quarter last year. Equities analysts expect that First Republic Bank will post 5.34 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 14th. Stockholders of record on Thursday, January 31st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Wednesday, January 30th. First Republic Bank’s dividend payout ratio is currently 14.97%.

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First Republic Bank 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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