Oppenheimer Asset Management Inc. Takes Position in FIRST REPUBLIC BANK (FRC)

Oppenheimer Asset Management Inc. bought a new stake in FIRST REPUBLIC BANK (NYSE:FRC) during the first quarter, Holdings Channel reports. The fund bought 21,079 shares of the bank’s stock, valued at approximately $1,977,000.

Several other hedge funds have also recently added to or reduced their stakes in FRC. Commerzbank Aktiengesellschaft FI boosted its stake in FIRST REPUBLIC BANK by 0.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 6,785 shares of the bank’s stock valued at $625,000 after buying an additional 56 shares during the period. Comerica Bank boosted its stake in FIRST REPUBLIC BANK by 4.4% in the fourth quarter. Comerica Bank now owns 11,597 shares of the bank’s stock valued at $1,078,000 after buying an additional 484 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in FIRST REPUBLIC BANK by 7.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 9,284 shares of the bank’s stock valued at $855,000 after buying an additional 605 shares during the period. Dimensional Fund Advisors LP boosted its stake in FIRST REPUBLIC BANK by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 530,960 shares of the bank’s stock valued at $48,922,000 after buying an additional 10,574 shares during the period. Finally, Keybank National Association OH boosted its stake in FIRST REPUBLIC BANK by 0.9% in the fourth quarter. Keybank National Association OH now owns 2,946 shares of the bank’s stock valued at $271,000 after buying an additional 25 shares during the period. Institutional investors own 98.62% of the company’s stock.

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

Shares of FIRST REPUBLIC BANK (NYSE:FRC) traded down 0.52% during mid-day trading on Tuesday, hitting $100.92. 429,812 shares of the company traded hands. The firm has a 50-day moving average price of $94.56 and a 200 day moving average price of $93.23. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of 25.17 and a beta of 1.02. FIRST REPUBLIC BANK has a 52-week low of $63.97 and a 52-week high of $101.99.

FIRST REPUBLIC BANK (NYSE:FRC) last issued its quarterly earnings results on Thursday, April 13th. The bank reported $1.01 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.01. FIRST REPUBLIC BANK had a net margin of 27.99% and a return on equity of 12.16%. The company had revenue of $601.14 million during the quarter, compared to the consensus estimate of $626.14 million. During the same period in the prior year, the company earned $0.88 EPS. Equities research analysts anticipate that FIRST REPUBLIC BANK will post $4.51 EPS for the current fiscal year.

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FRC has been the subject of several recent analyst reports. Zacks Investment Research cut shares of FIRST REPUBLIC BANK from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. Royal Bank Of Canada restated a “sector perform” rating and issued a $98.00 target price (up previously from $95.00) on shares of FIRST REPUBLIC BANK in a research note on Friday, March 10th. BMO Capital Markets restated a “hold” rating and issued a $98.00 target price on shares of FIRST REPUBLIC BANK in a research note on Wednesday, March 22nd. Jefferies Group LLC restated a “buy” rating and issued a $105.00 target price on shares of FIRST REPUBLIC BANK in a research note on Friday, March 31st. Finally, Barclays PLC reduced their target price on shares of FIRST REPUBLIC BANK from $102.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, April 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $99.62.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “FRC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding FRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FIRST REPUBLIC BANK (NYSE:FRC).

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