Ownership Capital B.V. lifted its stake in shares of First Republic Bank (NYSE:FRC) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,208,805 shares of the bank’s stock after buying an additional 24,012 shares during the quarter. First Republic Bank comprises 5.3% of Ownership Capital B.V.’s portfolio, making the stock its 10th largest position. Ownership Capital B.V.’s holdings in First Republic Bank were worth $118,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swedbank purchased a new stake in shares of First Republic Bank in the second quarter worth $101,370,000. Geode Capital Management LLC grew its holdings in shares of First Republic Bank by 57.4% during the fourth quarter. Geode Capital Management LLC now owns 2,097,305 shares of the bank’s stock worth $181,934,000 after buying an additional 764,661 shares in the last quarter. Northern Trust Corp grew its holdings in shares of First Republic Bank by 42.1% during the first quarter. Northern Trust Corp now owns 1,720,178 shares of the bank’s stock worth $172,810,000 after buying an additional 509,672 shares in the last quarter. Commerce Bank grew its holdings in shares of First Republic Bank by 485.6% during the first quarter. Commerce Bank now owns 273,719 shares of the bank’s stock worth $27,498,000 after buying an additional 226,981 shares in the last quarter. Finally, SeaTown Holdings Pte. Ltd. purchased a new stake in shares of First Republic Bank during the first quarter worth $19,791,000.
A number of equities research analysts recently issued reports on the stock. Maxim Group reissued a “buy” rating and issued a $110.00 price objective on shares of First Republic Bank in a report on Wednesday, July 17th. Raymond James lowered shares of First Republic Bank to a “hold” rating in a report on Monday, July 8th. Wedbush reaffirmed an “outperform” rating on shares of First Republic Bank in a research report on Tuesday, July 16th. Zacks Investment Research cut shares of First Republic Bank from a “hold” rating to a “sell” rating and set a $104.00 target price on the stock. in a research report on Friday, July 5th. Finally, Credit Suisse Group decreased their target price on shares of First Republic Bank from $105.00 to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $103.08.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Tuesday, July 16th. The bank reported $1.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.02). The company had revenue of $819.38 million during the quarter, compared to analysts’ expectations of $836.26 million. First Republic Bank had a net margin of 22.94% and a return on equity of 11.30%. During the same quarter in the prior year, the company earned $1.20 earnings per share. As a group, equities analysts expect that First Republic Bank will post 5.02 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, July 25th were paid a $0.19 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $0.76 annualized dividend and a yield of 0.84%. First Republic Bank’s dividend payout ratio is currently 15.80%.
First Republic Bank Company 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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