Nomura Holdings Inc. Boosts Position in First Republic Bank (FRC)
Nomura Holdings Inc. increased its position in shares of First Republic Bank (NYSE:FRC) by 110.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,640 shares of the bank’s stock after acquiring an additional 60,340 shares during the period. Nomura Holdings Inc.’s holdings in First Republic Bank were worth $546,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FRC. Visionary Asset Management Inc. acquired a new stake in First Republic Bank in the 2nd quarter valued at about $225,000. Gofen & Glossberg LLC IL acquired a new stake in First Republic Bank in the 2nd quarter valued at about $265,000. Brookmont Capital Management raised its position in First Republic Bank by 31.7% in the 2nd quarter. Brookmont Capital Management now owns 2,937 shares of the bank’s stock valued at $284,000 after purchasing an additional 707 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in First Republic Bank by 30.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,985 shares of the bank’s stock valued at $289,000 after purchasing an additional 699 shares in the last quarter. Finally, D.A. Davidson & CO. acquired a new stake in First Republic Bank in the 2nd quarter valued at about $297,000.
Shares of NYSE FRC opened at $100.08 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. First Republic Bank has a fifty-two week low of $84.56 and a fifty-two week high of $106.75. The stock has a market cap of $15.77 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 1.71 and a beta of 0.84.
A number of research firms have issued reports on FRC. Wells Fargo & Co increased their price target on First Republic Bank from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, June 26th. Citigroup began coverage on First Republic Bank in a research report on Monday, June 18th. They issued a “buy” rating and a $120.00 price target on the stock. Royal Bank of Canada increased their price target on First Republic Bank to $102.00 and gave the company a “sector perform” rating in a research report on Thursday, September 13th. They noted that the move was a valuation call. BMO Capital Markets increased their price target on First Republic Bank from $96.00 to $102.00 and gave the company a “market perform” rating in a research report on Friday, July 13th. Finally, Wedbush reaffirmed an “outperform” rating on shares of First Republic Bank in a research report on Friday, July 13th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $102.92.
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 of 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, and passbook deposits, as well as certificates of deposit.
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