First Republic Bank (FRC) Position Lifted by Asset Management One Co. Ltd.
Asset Management One Co. Ltd. lifted its position in shares of First Republic Bank (NYSE:FRC) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 0.16% of First Republic Bank worth $26,723,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in shares of First Republic Bank by 21.4% during the second quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock valued at $132,000 after purchasing an additional 232 shares in the last quarter. Peddock Capital Advisors LLC bought a new position in shares of First Republic Bank during the second quarter valued at about $180,000. Bronfman E.L. Rothschild L.P. increased its holdings in First Republic Bank by 0.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after buying an additional 5 shares during the last quarter. Cigna Investments Inc. New purchased a new stake in First Republic Bank during the second quarter worth about $208,000. Finally, Mawer Investment Management Ltd. purchased a new stake in First Republic Bank during the third quarter worth about $209,000. 99.14% of the stock is currently owned by institutional investors.
A number of analysts recently issued reports on FRC shares. Jefferies Group raised their price objective on shares of First Republic Bank from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Barclays downgraded shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $108.00 to $104.00 in a report on Tuesday, October 10th. Piper Jaffray Companies set a $99.00 price objective on shares of First Republic Bank and gave the stock a “hold” rating in a report on Sunday, October 15th. Keefe, Bruyette & Woods restated a “hold” rating and set a $87.00 price objective on shares of First Republic Bank in a report on Friday, October 13th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of First Republic Bank in a report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $102.93.
First Republic Bank (NYSE:FRC) opened at $92.79 on Monday. The firm has a market cap of $14,638.23, a PE ratio of 21.88, a PEG ratio of 1.72 and a beta of 0.96. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.95 and a quick ratio of 0.94. First Republic Bank has a 12 month low of $87.65 and a 12 month high of $105.52.
First Republic Bank (NYSE:FRC) last posted its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $670.30 million during the quarter, compared to analysts’ expectations of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. First Republic Bank’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. equities research analysts expect that First Republic Bank will post 4.38 EPS for the current fiscal year.
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About First Republic Bank
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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