Neuberger Berman Group LLC boosted its position in First Republic Bank (NYSE:FRC) by 5.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 544,122 shares of the bank’s stock after purchasing an additional 27,551 shares during the period. Neuberger Berman Group LLC owned about 0.34% of First Republic Bank worth $56,839,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Cigna Investments Inc. New bought a new position in shares of First Republic Bank during the 2nd quarter valued at approximately $208,000. Schwab Charles Investment Management Inc. grew its position in shares of First Republic Bank by 5.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 532,664 shares of the bank’s stock valued at $53,320,000 after acquiring an additional 29,734 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of First Republic Bank by 17.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 12,335 shares of the bank’s stock valued at $1,299,000 after acquiring an additional 1,815 shares during the period. State of Wisconsin Investment Board grew its position in shares of First Republic Bank by 5.6% during the 2nd quarter. State of Wisconsin Investment Board now owns 105,823 shares of the bank’s stock valued at $10,593,000 after acquiring an additional 5,640 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of First Republic Bank during the 2nd quarter valued at approximately $721,000. 98.85% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on FRC. BMO Capital Markets reduced their target price on shares of First Republic Bank from $96.00 to $92.00 and set a “market perform” rating for the company in a research report on Monday, October 16th. Royal Bank of Canada reissued a “hold” rating on shares of First Republic Bank in a research report on Friday, September 29th. Piper Jaffray Companies reissued a “hold” rating and set a $99.00 target price on shares of First Republic Bank in a research report on Friday, September 1st. Jefferies Group reissued a “buy” rating and set a $111.00 target price on shares of First Republic Bank in a research report on Thursday, October 19th. Finally, Zacks Investment Research downgraded shares of First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. First Republic Bank has an average rating of “Hold” and a consensus price target of $103.07.

First Republic Bank (NYSE FRC) opened at $88.81 on Tuesday. The company has a market cap of $13,814.74, a P/E ratio of 20.65, a P/E/G ratio of 1.61 and a beta of 0.96. First Republic Bank has a fifty-two week low of $86.73 and a fifty-two week high of $105.52. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55.

First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Friday, October 13th. The bank reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). The business had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same period last year, the business posted $1.00 earnings per share. analysts predict that First Republic Bank will post 4.42 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “First Republic Bank (FRC) Holdings Raised by Neuberger Berman Group LLC” was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The correct version of this article can be viewed at https://www.watchlistnews.com/first-republic-bank-frc-holdings-raised-by-neuberger-berman-group-llc/1772970.html.

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.

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

Receive News & Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related companies with MarketBeat.com's FREE daily email newsletter.