CAM Group Holding A S raised its position in First Republic Bank (NYSE:FRC) by 2.5% during the second quarter, Holdings Channel reports. The fund owned 2,008,028 shares of the company’s stock after buying an additional 49,558 shares during the period. First Republic Bank comprises 2.7% of CAM Group Holding A S’s investment portfolio, making the stock its 15th largest position. CAM Group Holding A S’s holdings in First Republic Bank were worth $140,542,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in FRC. Springbok Capital Management LLC purchased a new position in First Republic Bank during the first quarter worth about $190,000. Raymond James Trust N.A. purchased a new position in First Republic Bank during the second quarter worth about $208,000. Daiwa Securities Group Inc. increased its position in First Republic Bank by 9.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,600 shares of the company’s stock worth $252,000 after buying an additional 300 shares during the last quarter. CrestPoint Capital Management LLC purchased a new position in First Republic Bank during the second quarter worth about $273,000. Finally, Hartford Investment Management Co. increased its position in First Republic Bank by 34.0% in the second quarter. Hartford Investment Management Co. now owns 4,156 shares of the company’s stock worth $291,000 after buying an additional 1,054 shares during the last quarter. Institutional investors and hedge funds own 98.21% of the company’s stock.
Shares of First Republic Bank (NYSE:FRC) traded up 1.49% on Tuesday, reaching $74.28. The company had a trading volume of 738,818 shares. The firm has a market capitalization of $11.13 billion, a P/E ratio of 20.85 and a beta of 1.06. The company’s 50-day moving average price is $76.61 and its 200 day moving average price is $71.81. First Republic Bank has a 52 week low of $56.32 and a 52 week high of $79.15.
First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Thursday, October 13th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.01. The business earned $557.90 million during the quarter, compared to analysts’ expectations of $592.65 million. First Republic Bank had a return on equity of 12.95% and a net margin of 27.68%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. On average, analysts expect that First Republic Bank will post $3.91 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Thursday, October 27th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, October 25th. This represents a $0.64 annualized dividend and a dividend yield of 0.86%. First Republic Bank’s dividend payout ratio is currently 17.34%.
A number of research firms have recently issued reports on FRC. Deutsche Bank AG increased their price target on First Republic Bank from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Tuesday, October 11th. Zacks Investment Research downgraded First Republic Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Maxim Group raised their price objective on First Republic Bank from $83.00 to $86.00 and gave the company a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of First Republic Bank in a research report on Friday. Finally, FBR & Co raised their price objective on First Republic Bank from $73.00 to $80.00 and gave the company a “mkt perform” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $77.00.
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.
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