Hugh Johnson Advisors LLC lessened its holdings in First Republic Bank (NYSE:FRC) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,649 shares of the bank’s stock after selling 1,283 shares during the period. First Republic Bank makes up about 2.4% of Hugh Johnson Advisors LLC’s investment portfolio, making the stock its 14th largest position. Hugh Johnson Advisors LLC’s holdings in First Republic Bank were worth $7,572,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in FRC. BlackRock Inc. increased its position in First Republic Bank by 4,249.4% in the first quarter. BlackRock Inc. now owns 9,831,999 shares of the bank’s stock worth $922,340,000 after purchasing an additional 9,605,945 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in First Republic Bank in the first quarter worth $130,807,000. Marshall Wace North America L.P. bought a new stake in First Republic Bank in the first quarter worth $130,807,000. JPMorgan Chase & Co. increased its position in First Republic Bank by 26.2% in the first quarter. JPMorgan Chase & Co. now owns 5,951,600 shares of the bank’s stock worth $558,320,000 after purchasing an additional 1,236,848 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in First Republic Bank by 154.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,600,977 shares of the bank’s stock worth $160,258,000 after purchasing an additional 971,514 shares during the last quarter.
First Republic Bank (FRC) traded down 0.05% during mid-day trading on Wednesday, reaching $98.03. 130,146 shares of the company were exchanged. First Republic Bank has a 1-year low of $72.40 and a 1-year high of $104.17. The stock’s 50-day moving average price is $98.24 and its 200-day moving average price is $96.14. The stock has a market capitalization of $15.46 billion, a price-to-earnings ratio of 23.92 and a beta of 1.01.
First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, July 14th. The bank reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. The firm had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $671.27 million. During the same quarter last year, the business earned $0.97 earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts anticipate that First Republic Bank will post $4.45 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada restated a “hold” rating and issued a $98.00 price target on shares of First Republic Bank in a research report on Friday, July 7th. Barclays PLC reiterated an “equal weight” rating and set a $110.00 price objective (up previously from $101.00) on shares of First Republic Bank in a research report on Wednesday, July 12th. Morgan Stanley reiterated an “equal weight” rating and set a $104.00 price objective (up previously from $102.00) on shares of First Republic Bank in a research report on Thursday, July 6th. BidaskClub cut shares of First Republic Bank from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Maxim Group reiterated a “buy” rating and set a $110.00 price objective (up previously from $105.00) on shares of First Republic Bank in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned 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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About First Republic Bank
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.
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