Clearbridge Investments LLC increased its position in shares of First Republic Bank (NYSE:FRC) by 17.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 778,848 shares of the bank’s stock after acquiring an additional 117,552 shares during the period. Clearbridge Investments LLC owned about 0.49% of First Republic Bank worth $67,479,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FRC. YorkBridge Wealth Partners LLC boosted its position in shares of First Republic Bank by 3,865.5% during the 4th 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 in the last quarter. Cerebellum GP LLC acquired a new stake in shares of First Republic Bank during the 4th quarter worth approximately $127,000. Zions Bancorporation acquired a new stake in shares of First Republic Bank during the 3rd quarter worth approximately $160,000. Intrust Bank NA acquired a new stake in shares of First Republic Bank during the 4th quarter worth approximately $203,000. Finally, Mawer Investment Management Ltd. acquired a new stake in shares of First Republic Bank during the 3rd quarter worth approximately $209,000. Institutional investors and hedge funds own 99.00% of the company’s stock.
Several research firms recently issued reports on FRC. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $95.00 price target 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 price objective for the company from $93.00 to $110.00 in a research note on Tuesday, March 6th. Maxim Group reissued a “buy” rating and issued a $110.00 price objective on shares of First Republic Bank in a research note on Thursday, January 4th. Sandler O’Neill reissued a “hold” rating and issued a $94.00 price objective on shares of First Republic Bank in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of First Republic Bank in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. First Republic Bank has an average rating of “Hold” and an average price target of $102.85.
First Republic Bank (NYSE:FRC) last issued its quarterly earnings data on Tuesday, January 16th. The bank reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.05). The company had revenue of $699.20 million during the quarter, compared to the consensus estimate of $688.48 million. First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. First Republic Bank’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 EPS. equities analysts expect that First Republic Bank will post 4.74 earnings per share for the current year.
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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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