Retirement Systems of Alabama held its stake in shares of First Republic Bank (NYSE:FRC) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 151,900 shares of the company’s stock at the end of the second quarter. Retirement Systems of Alabama’s holdings in First Republic Bank were worth $10,631,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Aviva PLC raised its stake in shares of First Republic Bank by 2.8% in the first quarter. Aviva PLC now owns 73,447 shares of the company’s stock worth $4,895,000 after buying an additional 1,977 shares during the last quarter. A.R. Schmeidler & Co. Inc. purchased a new stake in First Republic Bank during the first quarter worth approximately $6,870,000. M&T Bank Corp raised its stake in First Republic Bank by 25.7% in the first quarter. M&T Bank Corp now owns 14,187 shares of the company’s stock worth $945,000 after buying an additional 2,898 shares in the last quarter. BlackRock Japan Co. Ltd raised its stake in First Republic Bank by 2.0% in the first quarter. BlackRock Japan Co. Ltd now owns 184,139 shares of the company’s stock worth $12,271,000 after buying an additional 3,523 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in First Republic Bank by 6.6% in the first quarter. BlackRock Group LTD now owns 834,007 shares of the company’s stock worth $55,578,000 after buying an additional 51,857 shares in the last quarter. Hedge funds and other institutional investors own 98.24% of the company’s stock.
Shares of First Republic Bank (NYSE:FRC) traded up 1.73% during mid-day trading on Wednesday, reaching $78.19. 851,707 shares of the company traded hands. The stock has a market capitalization of $11.72 billion, a PE ratio of 21.94 and a beta of 1.06. First Republic Bank has a 52 week low of $56.32 and a 52 week high of $78.77. The firm has a 50 day moving average of $76.03 and a 200-day moving average of $71.26.
First Republic Bank (NYSE:FRC) last released its earnings results on Thursday, July 14th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. First Republic Bank had a return on equity of 12.59% and a net margin of 27.20%. The business earned $535.10 million during the quarter, compared to the consensus estimate of $568.53 million. During the same period last year, the company earned $0.73 earnings per share. On average, equities research analysts expect that First Republic Bank will post $3.91 EPS for the current fiscal year.
FRC has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of First Republic Bank from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of First Republic Bank in a report on Sunday, July 17th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of First Republic Bank in a report on Sunday, July 17th. FBR & Co reiterated a “hold” rating on shares of First Republic Bank in a report on Sunday, July 17th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $70.00 price target on shares of First Republic Bank in a report on Thursday, July 7th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $75.23.
About First Republic Bank
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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