Robecosam AG Has $5.37 Million Position in First Republic Bank (FRC)
Robecosam AG reduced its holdings in First Republic Bank (NYSE:FRC) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,598 shares of the bank’s stock after selling 2,573 shares during the quarter. Robecosam AG’s holdings in First Republic Bank were worth $5,369,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of FRC. YorkBridge Wealth Partners LLC increased its position in shares of First Republic Bank by 3,865.5% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 1,150 shares of the bank’s stock valued at $101,000 after purchasing an additional 1,121 shares during the period. Cerebellum GP LLC acquired a new position in shares of First Republic Bank during the 4th quarter valued at $127,000. Zions Bancorporation acquired a new position in shares of First Republic Bank during the 3rd quarter valued at $160,000. Intrust Bank NA acquired a new position in shares of First Republic Bank during the 4th quarter valued at $203,000. Finally, Mawer Investment Management Ltd. acquired a new position in shares of First Republic Bank during the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 99.00% of the company’s stock.
First Republic Bank (NYSE:FRC) opened at $98.25 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $15,583.19, a price-to-earnings ratio of 22.80, a P/E/G ratio of 1.64 and a beta of 0.84. First Republic Bank has a 1-year low of $84.56 and a 1-year high of $105.52.
Several equities analysts have recently issued reports on the company. Barclays upgraded First Republic Bank from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $93.00 to $110.00 in a research report on Tuesday, March 6th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Royal Bank of Canada reiterated a “hold” rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Maxim Group reiterated a “buy” rating and set a $110.00 price target on shares of First Republic Bank in a research report on Thursday, January 4th. Finally, Zacks Investment Research cut First Republic Bank from a “hold” rating to a “sell” rating in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. First Republic Bank has an average rating of “Hold” and an average price target of $102.85.
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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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