Amundi Pioneer Asset Management Inc. lifted its stake in First Republic Bank (NYSE:FRC) by 231.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,922 shares of the bank’s stock after acquiring an additional 156,373 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in First Republic Bank were worth $19,401,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. YorkBridge Wealth Partners LLC increased its stake in shares of First Republic Bank by 3,865.5% in the fourth quarter. YorkBridge Wealth Partners LLC now owns 1,150 shares of the bank’s stock worth $101,000 after acquiring an additional 1,121 shares during the last quarter. Cerebellum GP LLC acquired a new position in First Republic Bank during the fourth quarter worth $127,000. Zions Bancorporation acquired a new position in First Republic Bank during the third quarter worth $160,000. Mawer Investment Management Ltd. acquired a new position in First Republic Bank during the third quarter worth $209,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in First Republic Bank during the third quarter worth $209,000. 99.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of First Republic Bank (FRC) opened at $97.04 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.46. First Republic Bank has a fifty-two week low of $84.56 and a fifty-two week high of $105.52. The stock has a market cap of $15,610.00, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.64 and a beta of 0.84.
Several equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and set a $95.00 target price on shares of First Republic Bank in a research report on Tuesday, February 27th. Barclays raised shares of First Republic Bank from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $93.00 to $110.00 in a research report on Tuesday, March 6th. Zacks Investment Research raised shares of First Republic Bank from a “sell” rating to a “hold” rating in a research report on Friday, December 8th. Morgan Stanley reissued an “equal weight” rating and set a $106.00 target price on shares of First Republic Bank in a research report on Thursday, December 14th. Finally, Jefferies Group downgraded shares of First Republic Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. 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 company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $102.85.
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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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