Man Group plc Trims Stock Position in First Republic Bank (NYSE:FRC)

Share on StockTwits

Man Group plc lessened its holdings in shares of First Republic Bank (NYSE:FRC) by 3.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 214,342 shares of the bank’s stock after selling 6,675 shares during the quarter. Man Group plc’s holdings in First Republic Bank were worth $20,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of FRC. CWM LLC increased its holdings in First Republic Bank by 506.8% in the third quarter. CWM LLC now owns 267 shares of the bank’s stock valued at $26,000 after buying an additional 223 shares in the last quarter. Squar Milner Financial Services LLC increased its holdings in First Republic Bank by 409.1% in the third quarter. Squar Milner Financial Services LLC now owns 280 shares of the bank’s stock valued at $27,000 after buying an additional 225 shares in the last quarter. TRUE Private Wealth Advisors purchased a new position in First Republic Bank in the second quarter valued at $28,000. Prime Capital Investment Advisors LLC purchased a new position in First Republic Bank in the third quarter valued at $31,000. Finally, CSat Investment Advisory L.P. increased its holdings in First Republic Bank by 113.6% in the second quarter. CSat Investment Advisory L.P. now owns 361 shares of the bank’s stock valued at $35,000 after buying an additional 192 shares in the last quarter.

A number of research firms have weighed in on FRC. Bank of America lifted their price objective on shares of First Republic Bank from $99.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. UBS Group lifted their price objective on shares of First Republic Bank from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. BMO Capital Markets lifted their price objective on shares of First Republic Bank from $97.00 to $103.00 and gave the company a “market perform” rating in a report on Wednesday, October 16th. They noted that the move was a valuation call. Stephens reaffirmed a “buy” rating and issued a $105.00 price objective on shares of First Republic Bank in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of First Republic Bank from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $106.07.

FRC stock opened at $109.90 on Monday. The stock has a market capitalization of $18.51 billion, a P/E ratio of 22.85, a P/E/G ratio of 3.70 and a beta of 0.90. The firm has a 50-day simple moving average of $106.83 and a 200-day simple moving average of $98.66. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.43. First Republic Bank has a 52 week low of $79.42 and a 52 week high of $111.67.

First Republic Bank (NYSE:FRC) last released its earnings results on Tuesday, October 15th. The bank reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.10. The business had revenue of $837.19 million during the quarter, compared to analysts’ expectations of $830.60 million. First Republic Bank had a net margin of 22.69% and a return on equity of 11.23%. During the same quarter in the previous year, the company earned $1.19 earnings per share. On average, analysts expect that First Republic Bank will post 5.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, October 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.69%. 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.

Recommended Story: Back-End Load

Want to see what other hedge funds are holding FRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Republic Bank (NYSE:FRC).

Institutional Ownership by Quarter for First Republic Bank (NYSE:FRC)

Receive News & Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.