Skandinaviska Enskilda Banken AB publ cut its position in shares of First Republic Bank (NYSE:FRC) by 11.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,855 shares of the bank’s stock after selling 3,605 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in First Republic Bank were worth $2,374,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of FRC. JPMorgan Chase & Co. increased its holdings in shares of First Republic Bank by 8.8% during the 1st quarter. JPMorgan Chase & Co. now owns 5,881,160 shares of the bank’s stock worth $483,902,000 after buying an additional 474,941 shares during the last quarter. Capital World Investors grew its position in First Republic Bank by 2.1% in the first quarter. Capital World Investors now owns 4,989,693 shares of the bank’s stock worth $410,552,000 after acquiring an additional 100,902 shares during the period. Geode Capital Management LLC increased its stake in First Republic Bank by 4.8% during the first quarter. Geode Capital Management LLC now owns 2,810,221 shares of the bank’s stock worth $230,804,000 after acquiring an additional 128,322 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in First Republic Bank by 2.4% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,764,035 shares of the bank’s stock valued at $227,425,000 after purchasing an additional 64,593 shares during the period. Finally, Ensign Peak Advisors Inc raised its position in First Republic Bank by 1.2% in the first quarter. Ensign Peak Advisors Inc now owns 2,379,461 shares of the bank’s stock valued at $195,783,000 after purchasing an additional 27,686 shares during the period. Institutional investors own 97.91% of the company’s stock.
Shares of NYSE FRC opened at $105.21 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.06 and a quick ratio of 1.05. The company has a market cap of $17.79 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 3.98 and a beta of 1.17. The stock’s 50-day moving average is $106.23 and its two-hundred day moving average is $105.79. First Republic Bank has a 1-year low of $70.06 and a 1-year high of $125.12.
First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Tuesday, April 14th. The bank reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.04. First Republic Bank had a return on equity of 10.64% and a net margin of 21.46%. The business had revenue of $916.20 million during the quarter, compared to the consensus estimate of $882.80 million. During the same period in the previous year, the company posted $1.26 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts anticipate that First Republic Bank will post 5 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the company. BMO Capital Markets raised their price objective on First Republic Bank from $90.00 to $99.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 15th. Zacks Investment Research raised shares of First Republic Bank from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a research note on Friday, June 5th. Compass Point upped their price objective on shares of First Republic Bank from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Maxim Group lifted their target price on shares of First Republic Bank from $110.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Finally, JPMorgan Chase & Co. upped their price target on First Republic Bank from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. First Republic Bank currently has an average rating of “Hold” and a consensus target price of $110.12.
About First Republic Bank
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.
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