Whittier Trust Co. of Nevada Inc. Increases Holdings in First Republic Bank (NYSE:FRC)

Whittier Trust Co. of Nevada Inc. lifted its position in First Republic Bank (NYSE:FRC) by 12.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,777 shares of the bank’s stock after purchasing an additional 660 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in First Republic Bank were worth $564,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FRC. Comerica Securities Inc. raised its position in shares of First Republic Bank by 4.1% in the 4th quarter. Comerica Securities Inc. now owns 4,084 shares of the bank’s stock valued at $355,000 after buying an additional 160 shares in the last quarter. Geode Capital Management LLC raised its position in shares of First Republic Bank by 57.4% in the 4th quarter. Geode Capital Management LLC now owns 2,097,305 shares of the bank’s stock valued at $181,934,000 after buying an additional 764,661 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of First Republic Bank by 2.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,023 shares of the bank’s stock valued at $350,000 after buying an additional 103 shares in the last quarter. Deutsche Bank AG raised its position in shares of First Republic Bank by 38.3% in the 4th quarter. Deutsche Bank AG now owns 252,869 shares of the bank’s stock valued at $21,971,000 after buying an additional 70,037 shares in the last quarter. Finally, First Hawaiian Bank raised its position in shares of First Republic Bank by 360.0% in the 1st quarter. First Hawaiian Bank now owns 1,725 shares of the bank’s stock valued at $173,000 after buying an additional 1,350 shares in the last quarter.

Several equities analysts have recently commented on FRC shares. Maxim Group restated a “buy” rating and issued a $110.00 target price on shares of First Republic Bank in a research report on Wednesday, July 17th. Raymond James cut shares of First Republic Bank to a “hold” rating in a research report on Monday, July 8th. Wedbush restated an “outperform” rating on shares of First Republic Bank in a research report on Tuesday, July 16th. Credit Suisse Group dropped their target price on shares of First Republic Bank from $105.00 to $98.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Finally, BMO Capital Markets dropped their target price on shares of First Republic Bank from $111.00 to $106.00 and set a “market perform” rating for the company in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. First Republic Bank presently has a consensus rating of “Hold” and an average price target of $103.08.

FRC stock traded up $0.55 during trading on Friday, reaching $96.29. 1,075,532 shares of the company were exchanged, compared to its average volume of 1,437,529. The business’s 50-day moving average is $97.87. The company has a market capitalization of $16.03 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. First Republic Bank has a twelve month low of $79.42 and a twelve month high of $107.75. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.01 and a quick ratio of 1.01.

First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Tuesday, July 16th. The bank reported $1.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.02). The company had revenue of $819.38 million for the quarter, compared to analyst estimates of $836.26 million. First Republic Bank had a return on equity of 11.30% and a net margin of 22.94%. During the same quarter in the prior year, the company earned $1.20 earnings per share. As a group, research analysts forecast that First Republic Bank will post 5.02 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, July 25th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, July 24th. First Republic Bank’s dividend payout ratio is 15.80%.

First Republic Bank Company 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.

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

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