Svenska Handelsbanken AB publ Has $1.99 Million Stake in First Republic Bank (FRC)

Svenska Handelsbanken AB publ lifted its position in shares of First Republic Bank (NYSE:FRC) by 13.1% in the first quarter, HoldingsChannel.com reports. The firm owned 19,800 shares of the bank’s stock after purchasing an additional 2,300 shares during the period. First Republic Bank comprises 2.3% of Svenska Handelsbanken AB publ’s investment portfolio, making the stock its 20th largest position. Svenska Handelsbanken AB publ’s holdings in First Republic Bank were worth $1,989,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc boosted its holdings in shares of First Republic Bank by 0.3% during the third quarter. Vanguard Group Inc now owns 13,738,532 shares of the bank’s stock worth $1,318,899,000 after purchasing an additional 46,588 shares during the period. BlackRock Inc. raised its stake in First Republic Bank by 7.8% in the fourth quarter. BlackRock Inc. now owns 13,031,329 shares of the bank’s stock worth $1,132,423,000 after buying an additional 948,394 shares in the last quarter. Baillie Gifford & Co. raised its stake in First Republic Bank by 7.9% in the fourth quarter. Baillie Gifford & Co. now owns 6,708,104 shares of the bank’s stock worth $582,934,000 after buying an additional 491,194 shares in the last quarter. JPMorgan Chase & Co. raised its stake in First Republic Bank by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 6,498,231 shares of the bank’s stock worth $623,830,000 after buying an additional 121,115 shares in the last quarter. Finally, Parnassus Investments CA raised its stake in First Republic Bank by 18.6% in the fourth quarter. Parnassus Investments CA now owns 5,601,934 shares of the bank’s stock worth $486,808,000 after buying an additional 878,285 shares in the last quarter.

FRC has been the subject of a number of research reports. BMO Capital Markets increased their price target on shares of First Republic Bank from $95.00 to $111.00 and gave the stock a “market perform” rating in a research note on Friday, March 15th. Maxim Group reissued a “buy” rating and issued a $115.00 price target (up from $110.00) on shares of First Republic Bank in a research note on Friday, April 12th. ValuEngine raised shares of First Republic Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, January 16th. Wells Fargo & Co increased their price target on shares of First Republic Bank from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Finally, Bank of America reissued a “neutral” rating and issued a $104.00 price target (up from $98.00) on shares of First Republic Bank in a research note on Tuesday, February 5th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $104.54.

Shares of NYSE FRC traded up $1.65 on Thursday, reaching $101.08. 15,687 shares of the company’s stock traded hands, compared to its average volume of 1,381,124. First Republic Bank has a 12 month low of $79.42 and a 12 month high of $107.75. The company has a market capitalization of $15.59 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 1.66 and a beta of 0.92. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.99 and a current ratio of 0.99.

First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, April 12th. The bank reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.04. First Republic Bank had a net margin of 23.61% and a return on equity of 11.56%. The business had revenue of $807.36 million during the quarter, compared to the consensus estimate of $813.99 million. During the same quarter last year, the firm earned $1.13 earnings per share. On average, analysts forecast that First Republic Bank will post 5.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Thursday, April 25th were paid a dividend of $0.19 per share. This is an increase from First Republic Bank’s previous quarterly dividend of $0.18. The ex-dividend date was Wednesday, April 24th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.75%. First Republic Bank’s dividend payout ratio (DPR) is currently 15.80%.

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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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