Eaton Vance Management Has $82.35 Million Position in First Republic Bank (NYSE:FRC)

Eaton Vance Management grew its position in First Republic Bank (NYSE:FRC) by 0.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 493,876 shares of the bank’s stock after buying an additional 1,287 shares during the quarter. Eaton Vance Management owned 0.29% of First Republic Bank worth $82,354,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Empire Life Investments Inc. increased its position in First Republic Bank by 0.6% during the 1st quarter. Empire Life Investments Inc. now owns 12,405 shares of the bank’s stock worth $2,069,000 after purchasing an additional 71 shares in the last quarter. Moody Lynn & Lieberson LLC increased its position in First Republic Bank by 1.2% during the 1st quarter. Moody Lynn & Lieberson LLC now owns 6,140 shares of the bank’s stock worth $1,024,000 after purchasing an additional 74 shares in the last quarter. Berman Capital Advisors LLC increased its position in First Republic Bank by 24.1% during the 1st quarter. Berman Capital Advisors LLC now owns 422 shares of the bank’s stock worth $70,000 after purchasing an additional 82 shares in the last quarter. Great Diamond Partners LLC increased its position in First Republic Bank by 5.2% during the 1st quarter. Great Diamond Partners LLC now owns 1,710 shares of the bank’s stock worth $285,000 after purchasing an additional 84 shares in the last quarter. Finally, Somerset Trust Co increased its position in First Republic Bank by 3.8% during the 1st quarter. Somerset Trust Co now owns 2,319 shares of the bank’s stock worth $387,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 96.16% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Maxim Group upped their price objective on shares of First Republic Bank from $210.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, July 14th. Keefe, Bruyette & Woods upped their price target on shares of First Republic Bank from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Tuesday, July 13th. Zacks Investment Research cut shares of First Republic Bank from a “buy” rating to a “hold” rating and set a $206.00 price target for the company. in a research report on Wednesday, June 9th. Barclays upped their price target on shares of First Republic Bank from $177.00 to $205.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 14th. Finally, Morgan Stanley upped their price target on shares of First Republic Bank from $175.00 to $180.00 and gave the company an “equal weight” rating in a research report on Thursday, June 10th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $175.33.

Shares of NYSE FRC opened at $196.09 on Thursday. The company has a market capitalization of $33.76 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 1.38 and a beta of 1.11. First Republic Bank has a 12-month low of $100.38 and a 12-month high of $202.07. The business’s fifty day moving average is $189.97. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.97.

First Republic Bank (NYSE:FRC) last issued its earnings results on Monday, July 12th. The bank reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.22. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.18 billion. First Republic Bank had a net margin of 26.82% and a return on equity of 12.40%. During the same period in the prior year, the firm earned $1.40 earnings per share. As a group, equities analysts anticipate that First Republic Bank will post 7.44 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 12th. Investors of record on Thursday, July 29th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.45%. The ex-dividend date is Wednesday, July 28th. First Republic Bank’s dividend payout ratio is presently 15.15%.

First Republic Bank Profile

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 through two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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

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