First Republic Bank (FRC) Shares Bought by Deutsche Bank AG
Deutsche Bank AG boosted its holdings in shares of First Republic Bank (NYSE:FRC) by 38.3% in the 4th quarter, Holdings Channel reports. The firm owned 252,869 shares of the bank’s stock after buying an additional 70,037 shares during the period. Deutsche Bank AG’s holdings in First Republic Bank were worth $21,971,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Pearl River Capital LLC acquired a new stake in First Republic Bank during the fourth quarter valued at approximately $26,000. Portfolio Solutions LLC acquired a new stake in First Republic Bank during the fourth quarter valued at approximately $43,000. Ipswich Investment Management Co. Inc. acquired a new stake in First Republic Bank during the fourth quarter valued at approximately $45,000. Captrust Financial Advisors lifted its stake in First Republic Bank by 199.4% during the fourth quarter. Captrust Financial Advisors now owns 521 shares of the bank’s stock valued at $45,000 after purchasing an additional 347 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in First Republic Bank by 42.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 726 shares of the bank’s stock valued at $63,000 after purchasing an additional 218 shares during the last quarter.
Several research firms recently commented on FRC. Wells Fargo & Co increased their target price on shares of First Republic Bank from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Stephens restated a “buy” rating and set a $115.00 price target on shares of First Republic Bank in a report on Thursday, March 21st. ValuEngine lowered shares of First Republic Bank from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. BMO Capital Markets boosted their price target on shares of First Republic Bank from $95.00 to $111.00 and gave the company a “market perform” rating in a report on Friday, March 15th. Finally, Atlantic Securities lowered shares of First Republic Bank from an “overweight” rating to a “neutral” rating and set a $104.98 price target on the stock. in a report on Friday, March 1st. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $104.54.
First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Tuesday, January 15th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.05. First Republic Bank had a net margin of 23.88% and a return on equity of 11.62%. The business had revenue of $810.75 million for the quarter, compared to analyst estimates of $812.10 million. During the same quarter in the previous year, the business earned $1.10 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts anticipate that First Republic Bank will post 5.34 EPS for the current fiscal year.
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First Republic Bank Profile
First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers 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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