Tokio Marine Asset Management Co. Ltd. Increases Stake in First Republic Bank (NYSE:FRC)

Tokio Marine Asset Management Co. Ltd. lifted its stake in First Republic Bank (NYSE:FRC) by 5.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 112,156 shares of the bank’s stock after purchasing an additional 5,577 shares during the quarter. First Republic Bank comprises about 1.9% of Tokio Marine Asset Management Co. Ltd.’s portfolio, making the stock its 19th largest holding. Tokio Marine Asset Management Co. Ltd. owned about 0.07% of First Republic Bank worth $10,952,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Destination Wealth Management purchased a new position in First Republic Bank during the 1st quarter worth approximately $32,000. Carroll Financial Associates Inc. grew its stake in shares of First Republic Bank by 112.6% during the 1st quarter. Carroll Financial Associates Inc. now owns 404 shares of the bank’s stock worth $40,000 after purchasing an additional 214 shares during the period. First Personal Financial Services grew its stake in shares of First Republic Bank by 61.5% during the 1st quarter. First Personal Financial Services now owns 507 shares of the bank’s stock worth $51,000 after purchasing an additional 193 shares during the period. Clean Yield Group acquired a new stake in shares of First Republic Bank during the 1st quarter worth approximately $52,000. Finally, Hall Laurie J Trustee grew its stake in shares of First Republic Bank by 160.0% during the 1st quarter. Hall Laurie J Trustee now owns 650 shares of the bank’s stock worth $65,000 after purchasing an additional 400 shares during the period.

FRC stock traded down $4.27 during midday trading on Monday, reaching $92.02. The stock had a trading volume of 36,657 shares, compared to its average volume of 1,437,529. The firm has a fifty day moving average price of $97.87. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.34. The stock has a market cap of $16.12 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85. First Republic Bank has a 52-week low of $79.42 and a 52-week high of $107.75.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Tuesday, July 16th. The bank reported $1.24 EPS for the quarter, missing the consensus estimate of $1.26 by ($0.02). First Republic Bank had a return on equity of 11.30% and a net margin of 22.94%. The company had revenue of $819.38 million for the quarter, compared to analysts’ expectations of $836.26 million. During the same quarter in the prior year, the firm earned $1.20 EPS. On average, analysts predict that First Republic Bank will post 5.02 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, July 25th will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.76 annualized dividend and a dividend yield of 0.83%. First Republic Bank’s dividend payout ratio is presently 15.80%.

FRC has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating on shares of First Republic Bank in a research note on Tuesday, July 16th. Maxim Group reissued a “buy” rating and issued a $110.00 price target on shares of First Republic Bank in a research note on Wednesday, July 17th. BMO Capital Markets dropped their price target on shares of First Republic Bank from $111.00 to $106.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. Zacks Investment Research cut shares of First Republic Bank from a “hold” rating to a “sell” rating and set a $104.00 price target on the stock. in a research note on Friday, July 5th. Finally, Credit Suisse Group dropped their price target on shares of First Republic Bank from $105.00 to $98.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $103.08.

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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