Sapience Investments LLC increased its stake in First Republic Bank (NYSE:FRC) by 84.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,365 shares of the bank’s stock after purchasing an additional 9,755 shares during the quarter. Sapience Investments LLC’s holdings in First Republic Bank were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of FRC. YorkBridge Wealth Partners LLC boosted its position in 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 during the period. Cerebellum GP LLC acquired a new stake in First Republic Bank during the 4th quarter worth about $127,000. Zions Bancorporation acquired a new stake in First Republic Bank during the 3rd quarter worth about $160,000. Intrust Bank NA acquired a new stake in First Republic Bank during the 4th quarter worth about $203,000. Finally, Mawer Investment Management Ltd. acquired a new stake in First Republic Bank during the 3rd quarter worth about $209,000. 99.00% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $95.00 price objective on shares of First Republic Bank in a research report on Tuesday, February 27th. Barclays upgraded First Republic Bank from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $93.00 to $110.00 in a research report on Tuesday, March 6th. Maxim Group restated a “buy” rating and set a $110.00 price objective on shares of First Republic Bank in a research report on Thursday, January 4th. Sandler O’Neill restated a “hold” rating and set a $94.00 price objective on shares of First Republic Bank in a research report on Wednesday, January 17th. Finally, Royal Bank of Canada restated a “hold” rating on shares of First Republic Bank in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. First Republic Bank currently has an average rating of “Hold” and an average target price of $102.85.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Tuesday, January 16th. The bank reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.05). The firm had revenue of $699.20 million for the quarter, compared to analyst estimates of $688.48 million. First Republic Bank had a net margin of 26.02% and a return on equity of 11.80%. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 earnings per share. sell-side analysts anticipate that First Republic Bank will post 4.74 earnings per share for the current year.
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First Republic Bank 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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