AGF Investments Inc. purchased a new stake in FIRST REPUBLIC BANK (NYSE:FRC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 170,693 shares of the bank’s stock, valued at approximately $17,096,000. AGF Investments Inc. owned approximately 0.11% of FIRST REPUBLIC BANK at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. boosted its stake in FIRST REPUBLIC BANK by 0.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock valued at $195,000 after buying an additional 5 shares in the last quarter. Alps Advisors Inc. boosted its stake in FIRST REPUBLIC BANK by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 4,979 shares of the bank’s stock valued at $498,000 after buying an additional 13 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in FIRST REPUBLIC BANK by 1.1% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 2,473 shares of the bank’s stock valued at $232,000 after buying an additional 28 shares in the last quarter. Somerset Trust Co boosted its stake in FIRST REPUBLIC BANK by 0.4% in the 2nd quarter. Somerset Trust Co now owns 9,186 shares of the bank’s stock valued at $919,000 after buying an additional 40 shares in the last quarter. Finally, Creative Planning boosted its stake in FIRST REPUBLIC BANK by 5.5% in the 1st quarter. Creative Planning now owns 1,160 shares of the bank’s stock valued at $109,000 after buying an additional 60 shares in the last quarter.

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Several analysts recently commented on the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $98.00 price target on shares of FIRST REPUBLIC BANK in a research note on Friday, July 7th. Barclays PLC reaffirmed an “equal weight” rating and issued a $110.00 price target (up previously from $101.00) on shares of FIRST REPUBLIC BANK in a research note on Wednesday, July 12th. Morgan Stanley reiterated an “equal weight” rating and issued 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 downgraded 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 issued 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 equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $104.54.

Shares of FIRST REPUBLIC BANK (NYSE:FRC) opened at 93.90 on Friday. The company has a 50-day moving average price of $98.35 and a 200-day moving average price of $96.14. The company has a market cap of $14.81 billion, a P/E ratio of 22.91 and a beta of 1.01. FIRST REPUBLIC BANK has a 12-month low of $72.40 and a 12-month high of $104.17.

FIRST REPUBLIC BANK (NYSE:FRC) last released its quarterly earnings data on Friday, July 14th. The bank reported $1.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 analyst estimates of $671.27 million. During the same period last year, the business earned $0.97 EPS. The company’s revenue was up 19.8% compared to the same quarter last year. On average, 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 was paid on Thursday, August 10th. Investors of record on Thursday, July 27th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Tuesday, July 25th. FIRST REPUBLIC BANK’s dividend payout ratio is currently 16.59%.

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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Institutional Ownership by Quarter for FIRST REPUBLIC BANK (NYSE:FRC)

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