First Republic Bank (NYSE:FRC) Shares Bought by KCG Holdings Inc.
KCG Holdings Inc. boosted its position in First Republic Bank (NYSE:FRC) by 91.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,829 shares of the bank’s stock after buying an additional 2,788 shares during the period. KCG Holdings Inc.’s holdings in First Republic Bank were worth $547,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. 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 buying an additional 9,605,945 shares during the period. MARSHALL WACE ASIA Ltd purchased a new position in First Republic Bank during the first quarter worth about $130,807,000. Marshall Wace North America L.P. purchased a new position in First Republic Bank during the first quarter worth about $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 buying an additional 1,236,848 shares during the period. Finally, Vanguard Group Inc. increased its position in First Republic Bank by 3.3% in the first quarter. Vanguard Group Inc. now owns 12,245,387 shares of the bank’s stock worth $1,148,739,000 after buying an additional 389,007 shares during the period. Institutional investors and hedge funds own 98.77% of the company’s stock.
First Republic Bank (FRC) traded up 0.70% on Friday, hitting $101.57. The stock had a trading volume of 449,032 shares. The company has a market cap of $16.02 billion, a price-to-earnings ratio of 24.78 and a beta of 0.99. First Republic Bank has a 52-week low of $71.11 and a 52-week high of $104.17. The company has a 50 day moving average price of $100.88 and a 200-day moving average price of $95.51.
First Republic Bank (NYSE:FRC) last posted its earnings results on Friday, July 14th. The bank reported $1.06 earnings per share (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 company had revenue of $641.30 million during the quarter, compared to analysts’ expectations of $671.27 million. During the same period in the previous year, the company posted $0.97 EPS. First Republic Bank’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts predict that First Republic Bank will post $4.45 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Thursday, July 27th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Tuesday, July 25th. First Republic Bank’s payout ratio is currently 16.59%.
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Several equities analysts have recently weighed in on FRC shares. Piper Jaffray Companies reduced their price target on First Republic Bank from $97.00 to $92.00 and set a “neutral” rating for the company in a report on Monday, April 17th. Deutsche Bank AG raised their price target on First Republic Bank from $98.00 to $101.00 and gave the company a “hold” rating in a report on Tuesday, April 18th. Barclays PLC raised their price target on First Republic Bank from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday, April 19th. Zacks Investment Research downgraded First Republic Bank from a “hold” rating to a “sell” rating in a report on Tuesday, June 6th. Finally, Wedbush restated an “outperform” rating and set a $121.00 price target on shares of First Republic Bank in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $104.54.
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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