Eagle Asset Management Inc. Sells 180 Shares of First Republic Bank (FRC)

Eagle Asset Management Inc. lessened its position in shares of First Republic Bank (NYSE:FRC) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,435 shares of the bank’s stock after selling 180 shares during the quarter. Eagle Asset Management Inc.’s holdings in First Republic Bank were worth $3,847,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Bank of Nova Scotia acquired a new stake in shares of First Republic Bank during the 1st quarter worth approximately $483,000. Barnett & Company Inc. acquired a new stake in shares of First Republic Bank during the 2nd quarter worth approximately $100,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of First Republic Bank by 100.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,071 shares of the bank’s stock worth $107,000 after purchasing an additional 537 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of First Republic Bank by 628.2% during the 1st quarter. Parallel Advisors LLC now owns 1,085 shares of the bank’s stock worth $101,000 after purchasing an additional 936 shares in the last quarter. Finally, Israel Discount Bank of New York acquired a new stake in shares of First Republic Bank during the 1st quarter worth approximately $107,000.

First Republic Bank (NYSE:FRC) opened at 93.90 on Friday. First Republic Bank has a 1-year low of $72.40 and a 1-year high of $104.17. The firm has a market capitalization of $14.81 billion, a PE ratio of 22.91 and a beta of 1.01. The firm has a 50-day moving average price of $98.35 and a 200-day moving average price of $96.14.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings results on Friday, July 14th. The bank reported $1.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.09 by $0.03. First Republic Bank had a return on equity of 12.16% and a net margin of 27.37%. The business had revenue of $641.30 million for the quarter, compared to analyst estimates of $671.27 million. During the same quarter in the previous year, the business posted $0.97 earnings per share. The business’s revenue was up 19.8% on a year-over-year basis. Equities analysts expect that First Republic Bank will post $4.45 earnings per share for the current fiscal year.

Several equities analysts have issued reports on FRC shares. Piper Jaffray Companies reiterated a “hold” rating and issued a $99.00 price objective on shares of First Republic Bank in a research report on Friday, September 1st. BidaskClub downgraded First Republic Bank from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $90.00 price objective on shares of First Republic Bank in a research report on Thursday, July 27th. BMO Capital Markets reiterated a “hold” rating and issued a $96.00 price objective on shares of First Republic Bank in a research report on Sunday, July 16th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $109.00 price objective on shares of First Republic Bank in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. First Republic Bank currently has a consensus rating of “Hold” and an average target price of $104.54.

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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.

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

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