Asset Management One Co. Ltd. increased its holdings in First Republic Bank (NYSE:FRC) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 255,915 shares of the bank’s stock after purchasing an additional 3,431 shares during the period. Asset Management One Co. Ltd. owned approximately 0.16% of First Republic Bank worth $26,723,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of FRC. Nomura Asset Management Co. Ltd. boosted its holdings in First Republic Bank by 91.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 37,875 shares of the bank’s stock valued at $3,957,000 after acquiring an additional 18,100 shares during the period. Aureus Asset Management LLC boosted its holdings in First Republic Bank by 0.9% during the third quarter. Aureus Asset Management LLC now owns 197,870 shares of the bank’s stock valued at $20,670,000 after acquiring an additional 1,740 shares during the period. Northeast Investment Management boosted its holdings in First Republic Bank by 5.1% during the third quarter. Northeast Investment Management now owns 125,993 shares of the bank’s stock valued at $13,161,000 after acquiring an additional 6,163 shares during the period. Brookmont Capital Management bought a new stake in First Republic Bank during the third quarter valued at about $210,000. Finally, Artisan Partners Limited Partnership boosted its holdings in First Republic Bank by 32.9% during the third quarter. Artisan Partners Limited Partnership now owns 2,804,290 shares of the bank’s stock valued at $292,936,000 after acquiring an additional 693,442 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.
First Republic Bank (NYSE FRC) traded down $1.68 during trading hours on Tuesday, reaching $84.96. 2,056,273 shares of the company traded hands, compared to its average volume of 1,360,000. First Republic Bank has a 52-week low of $84.56 and a 52-week high of $105.52. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a market capitalization of $13,360.00, a price-to-earnings ratio of 20.04, a PEG ratio of 1.59 and a beta of 0.96.
First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The business had revenue of $670.30 million during the quarter, compared to analyst estimates of $678.25 million. During the same period last year, the company earned $1.00 EPS. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. equities research analysts expect that First Republic Bank will post 4.44 earnings per share for the current fiscal year.
FRC has been the subject of a number of recent analyst reports. Jefferies Group restated a “buy” rating and set a $109.00 price target on shares of First Republic Bank in a report on Friday, September 15th. Zacks Investment Research cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a report on Monday, September 18th. Royal Bank of Canada restated a “hold” rating on shares of First Republic Bank in a report on Friday, September 29th. Barclays cut shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $108.00 to $104.00 in a report on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $87.00 price objective on shares of First Republic Bank in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $103.00.
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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