Sarasin & Partners LLP purchased a new position in shares of First Republic Bank (NYSE:FRC) during the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 547,028 shares of the company’s stock, valued at approximately $42,181,000. Sarasin & Partners LLP owned about 0.37% of First Republic Bank as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlueMountain Capital Management LLC bought a new position in shares of First Republic Bank during the first quarter worth $891,000. Howland Capital Management LLC raised its position in shares of First Republic Bank by 12.2% in the second quarter. Howland Capital Management LLC now owns 107,277 shares of the company’s stock worth $7,508,000 after buying an additional 11,625 shares in the last quarter. Raymond James Trust N.A. bought a new position in shares of First Republic Bank during the second quarter worth $208,000. British Columbia Investment Management Corp raised its position in shares of First Republic Bank by 19.5% in the second quarter. British Columbia Investment Management Corp now owns 94,551 shares of the company’s stock worth $6,618,000 after buying an additional 15,433 shares in the last quarter. Finally, Daiwa SB Investments Ltd. raised its position in shares of First Republic Bank by 1,739.1% in the second quarter. Daiwa SB Investments Ltd. now owns 64,000 shares of the company’s stock worth $4,403,000 after buying an additional 60,520 shares in the last quarter. 99.31% of the stock is currently owned by hedge funds and other institutional investors.

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

First Republic Bank (NYSE:FRC) traded up 1.72% during mid-day trading on Wednesday, reaching $82.93. 154,700 shares of the company traded hands. The stock has a market capitalization of $12.45 billion, a PE ratio of 22.16 and a beta of 0.93. The stock has a 50-day moving average of $77.69 and a 200 day moving average of $73.79. First Republic Bank has a 52-week low of $56.32 and a 52-week high of $86.32.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings results on Thursday, October 13th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.01. First Republic Bank had a net margin of 27.68% and a return on equity of 12.95%. The company had revenue of $557.90 million for the quarter, compared to the consensus estimate of $592.65 million. During the same quarter in the prior year, the firm earned $0.79 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts expect that First Republic Bank will post $3.92 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Thursday, October 27th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, October 25th. First Republic Bank’s dividend payout ratio (DPR) is presently 17.34%.

TRADEMARK VIOLATION WARNING: “Sarasin & Partners LLP Purchases Shares of 547,028 First Republic Bank (FRC)” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another website, it was copied illegally and reposted in violation of US and international trademark and copyright laws. The correct version of this report can be read at https://www.thecerbatgem.com/2016/11/30/sarasin-partners-llp-purchases-shares-of-547028-first-republic-bank-frc.html.

FRC has been the topic of a number of research reports. Zacks Investment Research lowered shares of First Republic Bank from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Barclays PLC raised their target price on shares of First Republic Bank from $78.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. Deutsche Bank AG raised their target price on shares of First Republic Bank from $83.00 to $85.00 and gave the stock a “hold” rating in a research note on Tuesday, October 11th. FBR & Co raised their target price on shares of First Republic Bank from $73.00 to $80.00 and gave the stock a “mkt perform” rating in a research note on Friday, October 14th. Finally, Maxim Group raised their target price on shares of First Republic Bank from $83.00 to $86.00 and gave the stock a “buy” rating in a research note on Friday, October 14th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $80.55.

First Republic Bank Company 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.

5 Day Chart for NYSE:FRC

Receive News & Stock Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related stocks with our FREE daily email newsletter.