Deutsche Bank AG boosted its holdings in First Republic Bank (NYSE:FRC) by 95.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 608,349 shares of the bank’s stock after acquiring an additional 296,766 shares during the quarter. Deutsche Bank AG owned 0.39% of First Republic Bank worth $52,705,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. YorkBridge Wealth Partners LLC lifted its position in First Republic Bank by 3,865.5% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 1,150 shares of the bank’s stock valued at $101,000 after acquiring an additional 1,121 shares in the last quarter. Cerebellum GP LLC bought a new position in First Republic Bank in the 4th quarter valued at about $127,000. Zions Bancorporation bought a new position in First Republic Bank in the 3rd quarter valued at about $160,000. Mawer Investment Management Ltd. bought a new position in First Republic Bank in the 3rd quarter valued at about $209,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in First Republic Bank in the 3rd quarter valued at about $209,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of First Republic Bank stock traded down $2.40 during mid-day trading on Thursday, hitting $94.50. 995,709 shares of the stock traded hands, compared to its average volume of 1,608,385. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.94 and a current ratio of 0.94. First Republic Bank has a 12 month low of $84.56 and a 12 month high of $105.52. The stock has a market cap of $15,111.50, a price-to-earnings ratio of 22.48, a P/E/G ratio of 1.59 and a beta of 0.84.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.05). First Republic Bank had a return on equity of 11.80% and a net margin of 26.02%. The company had revenue of $699.20 million for the quarter, compared to analysts’ expectations of $688.48 million. During the same quarter in the previous year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. equities research analysts anticipate that First Republic Bank will post 4.74 earnings per share for the current fiscal year.
Several brokerages recently weighed in on FRC. UBS began coverage on shares of First Republic Bank in a research report on Wednesday. They issued a “neutral” rating and a $100.00 price target on the stock. Barclays upgraded shares of First Republic Bank from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $93.00 to $110.00 in a research note on Tuesday, March 6th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of First Republic Bank in a research note on Wednesday, January 17th. Royal Bank of Canada reiterated a “hold” rating on shares of First Republic Bank in a research note on Wednesday, January 17th. Finally, Maxim Group reiterated a “buy” rating and issued a $110.00 price objective on shares of First Republic Bank in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. First Republic Bank presently has an average rating of “Hold” and a consensus target price of $102.64.
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First Republic Bank Profile
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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