DekaBank Deutsche Girozentrale Trims Position in First Republic Bank (NYSE:FRC)

DekaBank Deutsche Girozentrale trimmed its position in shares of First Republic Bank (NYSE:FRC) by 12.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,805 shares of the bank’s stock after selling 17,528 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.07% of First Republic Bank worth $11,551,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FRC. Comerica Securities Inc. raised its position in First Republic Bank by 4.1% in the 4th quarter. Comerica Securities Inc. now owns 4,084 shares of the bank’s stock worth $355,000 after purchasing an additional 160 shares during the period. Geode Capital Management LLC boosted its stake in shares of First Republic Bank by 57.4% during the 4th quarter. Geode Capital Management LLC now owns 2,097,305 shares of the bank’s stock valued at $181,934,000 after purchasing an additional 764,661 shares in the last quarter. First Manhattan Co. boosted its stake in shares of First Republic Bank by 3,925.0% during the 1st quarter. First Manhattan Co. now owns 805 shares of the bank’s stock valued at $80,000 after purchasing an additional 785 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of First Republic Bank by 4.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,700 shares of the bank’s stock valued at $874,000 after purchasing an additional 400 shares in the last quarter. Finally, New Mexico Educational Retirement Board bought a new stake in shares of First Republic Bank during the 1st quarter valued at about $1,376,000.

NYSE:FRC opened at $92.06 on Friday. First Republic Bank has a one year low of $79.42 and a one year 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. The company’s 50-day simple moving average is $97.20 and its 200 day simple moving average is $100.20. The firm has a market capitalization of $15.31 billion, a P/E ratio of 19.14, a PEG ratio of 2.61 and a beta of 0.85.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings data 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 business had revenue of $819.38 million for the quarter, compared to the consensus estimate of $836.26 million. During the same period in the previous year, the firm earned $1.20 EPS. On average, equities research analysts expect that First Republic Bank will post 4.98 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, July 25th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Wednesday, July 24th. First Republic Bank’s payout ratio is currently 15.80%.

A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group cut their target price 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. Wedbush reaffirmed an “outperform” rating on shares of First Republic Bank in a research note on Tuesday, July 16th. Zacks Investment Research lowered shares of First Republic Bank from a “hold” rating to a “sell” rating and set a $104.00 target price on the stock. in a research note on Friday, July 5th. Maxim Group reaffirmed a “buy” rating and set a $110.00 target price on shares of First Republic Bank in a research note on Wednesday, July 17th. Finally, Raymond James lowered shares of First Republic Bank to a “hold” rating in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price 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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