FIRST REPUBLIC BANK (FRC) Holdings Lowered by Advisor Group Inc.

Advisor Group Inc. trimmed its stake in shares of FIRST REPUBLIC BANK (NYSE:FRC) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,693 shares of the bank’s stock after selling 211 shares during the quarter. Advisor Group Inc.’s holdings in FIRST REPUBLIC BANK were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Suntrust Banks Inc. raised its position in shares of FIRST REPUBLIC BANK by 22.2% during the 2nd quarter. Suntrust Banks Inc. now owns 28,525 shares of the bank’s stock worth $2,853,000 after buying an additional 5,183 shares in the last quarter. California Public Employees Retirement System raised its position in shares of FIRST REPUBLIC BANK by 2.1% during the 2nd quarter. California Public Employees Retirement System now owns 343,600 shares of the bank’s stock worth $34,394,000 after buying an additional 7,200 shares in the last quarter. FIL Ltd bought a new stake in shares of FIRST REPUBLIC BANK during the 2nd quarter worth about $23,040,000. TIAA FSB bought a new stake in shares of FIRST REPUBLIC BANK during the 2nd quarter worth about $9,106,000. Finally, ETRADE Capital Management LLC raised its position in shares of FIRST REPUBLIC BANK by 7.0% during the 2nd quarter. ETRADE Capital Management LLC now owns 10,923 shares of the bank’s stock worth $1,093,000 after buying an additional 711 shares in the last quarter. Institutional investors own 97.73% of the company’s stock.

FRC has been the topic of a number of recent analyst reports. Jefferies Group LLC boosted their price target on shares of FIRST REPUBLIC BANK from $109.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. BidaskClub downgraded shares of FIRST REPUBLIC BANK from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Royal Bank Of Canada restated a “hold” rating and set a $98.00 price target on shares of FIRST REPUBLIC BANK in a research report on Friday, July 7th. Zacks Investment Research downgraded shares of FIRST REPUBLIC BANK from a “hold” rating to a “sell” rating in a research report on Monday, September 18th. Finally, Barclays PLC downgraded shares of FIRST REPUBLIC BANK from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $108.00 to $104.00 in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $104.92.

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FIRST REPUBLIC BANK (NYSE:FRC) opened at 104.13 on Wednesday. The stock has a 50 day moving average of $99.33 and a 200 day moving average of $97.16. FIRST REPUBLIC BANK has a 52 week low of $72.40 and a 52 week high of $105.52. The firm has a market cap of $16.43 billion, a PE ratio of 25.40 and a beta of 1.01.

FIRST REPUBLIC BANK (NYSE:FRC) last released its earnings results on Friday, July 14th. The bank reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). FIRST REPUBLIC BANK had a net margin of 27.37% and a return on equity of 12.16%. The business had revenue of $641.30 million for the quarter, compared to analyst estimates of $671.27 million. During the same quarter in the previous year, the company posted $0.97 earnings per share. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. Analysts anticipate that FIRST REPUBLIC BANK will post $4.45 EPS for the current year.

FIRST REPUBLIC BANK Company 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.

Institutional Ownership by Quarter for FIRST REPUBLIC BANK (NYSE:FRC)

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