Robecosam AG Reduces Holdings in First Republic Bank (FRC)

Robecosam AG decreased its holdings in First Republic Bank (NYSE:FRC) by 8.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,426 shares of the bank’s stock after selling 5,967 shares during the period. Robecosam AG’s holdings in First Republic Bank were worth $6,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Bronfman E.L. Rothschild L.P. grew its stake in shares of First Republic Bank by 0.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after acquiring an additional 5 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of First Republic Bank by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,979 shares of the bank’s stock worth $498,000 after acquiring an additional 13 shares in the last quarter. Somerset Trust Co grew its stake in shares of First Republic Bank by 0.4% in the second quarter. Somerset Trust Co now owns 9,186 shares of the bank’s stock worth $919,000 after acquiring an additional 40 shares in the last quarter. Global X Management Co. LLC grew its stake in shares of First Republic Bank by 1.1% in the second quarter. Global X Management Co. LLC now owns 5,935 shares of the bank’s stock worth $594,000 after acquiring an additional 62 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its stake in shares of First Republic Bank by 0.3% in the second quarter. Xact Kapitalforvaltning AB now owns 19,486 shares of the bank’s stock worth $1,951,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 97.73% of the company’s stock.

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Several research firms have commented on FRC. Maxim Group restated a “buy” rating and issued a $110.00 price target (up previously from $105.00) on shares of First Republic Bank in a research note on Friday, July 14th. Piper Jaffray Companies restated a “hold” rating and issued a $99.00 price target on shares of First Republic Bank in a research note on Friday, July 14th. BidaskClub downgraded shares of First Republic Bank from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Wedbush restated an “outperform” rating and issued a $121.00 price target on shares of First Republic Bank in a research note on Tuesday, June 27th. Finally, Royal Bank Of Canada restated a “hold” rating on shares of First Republic Bank in a research note on Friday, September 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $104.92.

Shares of First Republic Bank (NYSE FRC) traded down 5.74% during midday trading on Friday, reaching $96.31. 1,445,023 shares of the company were exchanged. The company has a market capitalization of $15.19 billion, a PE ratio of 23.50 and a beta of 1.01. First Republic Bank has a 52-week low of $72.43 and a 52-week high of $105.52. The stock’s 50-day moving average price is $99.66 and its 200-day moving average price is $97.24.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.01). The company had revenue of $670.30 million for the quarter, compared to analyst estimates of $678.25 million. First Republic Bank had a return on equity of 12.16% and a net margin of 27.37%. First Republic Bank’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.00 earnings per share. Analysts anticipate that First Republic Bank will post $4.43 EPS for the current year.

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.

Institutional Ownership by Quarter for First Republic Bank (NYSE:FRC)

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