First Republic Bank Sees Unusually Large Options Volume (FRC)

First Republic Bank (NYSE:FRC) was the target of some unusual options trading activity on Thursday. Investors bought 2,572 call options on the company. This is an increase of 1,108% compared to the typical volume of 213 call options.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank grew its stake in First Republic Bank by 8.9% during the second quarter. Toronto Dominion Bank now owns 2,117 shares of the bank’s stock valued at $212,000 after acquiring an additional 173 shares in the last quarter. Colony Group LLC grew its stake in First Republic Bank by 0.9% during the second quarter. Colony Group LLC now owns 25,889 shares of the bank’s stock valued at $2,591,000 after acquiring an additional 219 shares in the last quarter. National Asset Management Inc. grew its stake in First Republic Bank by 10.4% during the second quarter. National Asset Management Inc. now owns 5,001 shares of the bank’s stock valued at $503,000 after acquiring an additional 472 shares in the last quarter. Whittier Trust Co. grew its stake in First Republic Bank by 2.0% during the third quarter. Whittier Trust Co. now owns 26,816 shares of the bank’s stock valued at $2,801,000 after acquiring an additional 516 shares in the last quarter. Finally, Amalgamated Bank grew its stake in First Republic Bank by 3.8% during the third quarter. Amalgamated Bank now owns 16,188 shares of the bank’s stock valued at $1,691,000 after acquiring an additional 590 shares in the last quarter. 98.59% of the stock is owned by institutional investors.

A number of brokerages have recently issued reports on FRC. Piper Jaffray Companies set a $99.00 price objective on shares of First Republic Bank and gave the stock a “hold” rating in a research note on Sunday, October 15th. Wells Fargo & Co reduced their price objective on shares of First Republic Bank from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Monday, October 16th. BMO Capital Markets reduced their price objective on shares of First Republic Bank from $96.00 to $92.00 and set a “market perform” rating for the company in a research note on Monday, October 16th. Sandler O’Neill reissued a “hold” rating and issued a $94.00 price objective on shares of First Republic Bank in a research note on Wednesday, January 17th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating on shares of First Republic Bank in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $101.54.

Shares of First Republic Bank (NYSE FRC) opened at $89.58 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market cap of $14,004.04, a price-to-earnings ratio of 20.78, a PEG ratio of 1.47 and a beta of 0.91. First Republic Bank has a 52 week low of $84.56 and a 52 week high of $105.52.

First Republic Bank (NYSE:FRC) last posted its earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.05). The company had revenue of $699.20 million for the quarter, compared to analysts’ expectations of $688.48 million. First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share. research analysts anticipate that First Republic Bank will post 4.76 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, February 8th. Investors of record on Thursday, January 25th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, January 24th. This represents a $0.68 annualized dividend and a yield of 0.76%. First Republic Bank’s payout ratio is 15.78%.

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First Republic Bank Company Profile

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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