C WorldWide Group Holding A S Trims Holdings in First Republic Bank (NYSE:FRC)

C WorldWide Group Holding A S decreased its stake in shares of First Republic Bank (NYSE:FRC) by 1.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,010,912 shares of the bank’s stock after selling 35,548 shares during the quarter. First Republic Bank comprises 3.7% of C WorldWide Group Holding A S’s holdings, making the stock its 11th largest position. C WorldWide Group Holding A S owned 1.79% of First Republic Bank worth $291,155,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in FRC. Montag & Caldwell LLC raised its position in First Republic Bank by 7.2% in the third quarter. Montag & Caldwell LLC now owns 2,667 shares of the bank’s stock valued at $258,000 after purchasing an additional 180 shares during the period. James Hambro & Partners purchased a new stake in First Republic Bank in the third quarter valued at $1,014,000. Huntington National Bank raised its position in First Republic Bank by 94.2% in the third quarter. Huntington National Bank now owns 765 shares of the bank’s stock valued at $74,000 after purchasing an additional 371 shares during the period. Parallel Advisors LLC raised its position in First Republic Bank by 7.5% in the third quarter. Parallel Advisors LLC now owns 1,679 shares of the bank’s stock valued at $162,000 after purchasing an additional 117 shares during the period. Finally, Sloane Robinson LLP raised its position in First Republic Bank by 418.8% in the third quarter. Sloane Robinson LLP now owns 93,278 shares of the bank’s stock valued at $9,020,000 after purchasing an additional 75,300 shares during the period.

A number of research firms have commented on FRC. Citigroup lifted their target price on First Republic Bank from $111.00 to $119.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. BMO Capital Markets lifted their price objective on First Republic Bank from $97.00 to $103.00 and gave the company a “market perform” rating in a research note on Wednesday, October 16th. They noted that the move was a valuation call. Wells Fargo & Co cut First Republic Bank from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $112.00 to $100.00 in a research note on Wednesday, October 2nd. They noted that the move was a valuation call. Bank of America lifted their price objective on First Republic Bank from $99.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Wedbush lifted their price objective on First Republic Bank from $114.00 to $119.00 and gave the company an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $107.00.

FRC traded up $0.21 on Friday, hitting $110.22. 931,403 shares of the company were exchanged, compared to its average volume of 1,239,723. First Republic Bank has a twelve month low of $79.42 and a twelve month high of $111.67. The company has a market cap of $18.47 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 3.71 and a beta of 0.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average price of $100.90 and a two-hundred day moving average price of $98.19.

First Republic Bank (NYSE:FRC) last released its earnings results on Tuesday, October 15th. The bank reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.10. First Republic Bank had a return on equity of 11.23% and a net margin of 22.69%. The firm had revenue of $837.19 million during the quarter, compared to analysts’ expectations of $830.60 million. During the same period in the previous year, the firm posted $1.19 EPS. Equities analysts expect that First Republic Bank will post 5.06 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $0.76 annualized dividend and a yield of 0.69%. First Republic Bank’s payout ratio is 15.80%.

First Republic Bank Profile

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company offers deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

See Also: How are Outstanding Shares Different from Authorized Shares?

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

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