Tredje AP fonden boosted its holdings in shares of First Republic Bank (NYSE:FRC) by 119.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,980 shares of the bank’s stock after acquiring an additional 8,167 shares during the period. Tredje AP fonden’s holdings in First Republic Bank were worth $1,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AGF Investments Inc. purchased a new position in First Republic Bank during the 2nd quarter valued at about $17,096,000. Schroder Investment Management Group lifted its position in First Republic Bank by 3.7% during the 2nd quarter. Schroder Investment Management Group now owns 451,214 shares of the bank’s stock valued at $45,374,000 after acquiring an additional 16,199 shares during the period. D L Carlson Investment Group Inc. lifted its position in First Republic Bank by 53.6% during the 2nd quarter. D L Carlson Investment Group Inc. now owns 33,624 shares of the bank’s stock valued at $3,366,000 after acquiring an additional 11,727 shares during the period. Gerber Kawasaki Wealth & Investment Management lifted its position in First Republic Bank by 0.7% during the 2nd quarter. Gerber Kawasaki Wealth & Investment Management now owns 58,029 shares of the bank’s stock valued at $6,001,000 after acquiring an additional 430 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in First Republic Bank by 13.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,745,564 shares of the bank’s stock valued at $675,230,000 after acquiring an additional 793,964 shares during the period.

TRADEMARK VIOLATION NOTICE: “Tredje AP fonden Acquires 8,167 Shares of First Republic Bank (FRC)” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another site, it was copied illegally and republished in violation of United States & international copyright laws. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2017/09/13/tredje-ap-fonden-acquires-8167-shares-of-first-republic-bank-frc.html.

A number of brokerages recently issued reports on FRC. Zacks Investment Research cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, June 6th. BidaskClub cut shares of First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Maxim Group reissued a “buy” rating and set a $110.00 price target (up from $105.00) on shares of First Republic Bank in a research report on Friday, July 14th. BMO Capital Markets reissued a “hold” rating and set a $97.00 price target on shares of First Republic Bank in a research report on Friday, May 26th. Finally, Barclays PLC reissued an “equal weight” rating and set a $110.00 price target (up from $101.00) on shares of First Republic Bank in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $104.54.

First Republic Bank (NYSE:FRC) opened at 98.08 on Wednesday. The firm’s 50-day moving average is $98.24 and its 200 day moving average is $96.14. The stock has a market cap of $15.47 billion, a P/E ratio of 23.93 and a beta of 1.01. First Republic Bank has a one year low of $72.40 and a one year high of $104.17.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings data on Friday, July 14th. The bank reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). The firm had revenue of $641.30 million for the quarter, compared to analyst estimates of $671.27 million. First Republic Bank had a return on equity of 12.16% and a net margin of 27.37%. First Republic Bank’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 EPS. On average, analysts anticipate that First Republic Bank will post $4.45 EPS for the current fiscal year.

First Republic Bank 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.

Institutional Ownership by Quarter for First Republic Bank (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.