Southeast Asset Advisors Inc. lowered its stake in shares of First Republic Bank (NYSE:FRC) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,410 shares of the bank’s stock after selling 1,300 shares during the period. Southeast Asset Advisors Inc.’s holdings in First Republic Bank were worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its stake in First Republic Bank by 0.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after buying an additional 5 shares during the period. Alps Advisors Inc. grew its stake in First Republic Bank by 0.3% in the second quarter. Alps Advisors Inc. now owns 4,979 shares of the bank’s stock valued at $498,000 after acquiring an additional 13 shares during the period. Somerset Trust Co grew its stake in First Republic Bank by 0.4% in the second quarter. Somerset Trust Co now owns 9,186 shares of the bank’s stock valued at $919,000 after acquiring an additional 40 shares during the period. Global X Management Co. LLC grew its stake in First Republic Bank by 1.1% in the second quarter. Global X Management Co. LLC now owns 5,935 shares of the bank’s stock valued at $594,000 after acquiring an additional 62 shares during the period. Finally, Xact Kapitalforvaltning AB grew its stake in First Republic Bank by 0.3% in the second quarter. Xact Kapitalforvaltning AB now owns 19,486 shares of the bank’s stock valued at $1,951,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 97.73% of the company’s stock.

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FRC has been the topic of a number of recent research reports. Jefferies Group LLC increased their target price on First Republic Bank from $109.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Royal Bank Of Canada restated a “hold” rating on shares of First Republic Bank in a report on Friday, September 29th. BidaskClub cut shares of First Republic Bank from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Maxim Group reissued a “buy” rating and set a $110.00 target price (up from $105.00) on shares of First Republic Bank in a research report on Friday, July 14th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $99.00 target price on shares of First Republic Bank in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. First Republic Bank currently has an average rating of “Hold” and a consensus price target of $105.38.

First Republic Bank (FRC) traded down 0.271% on Wednesday, reaching $104.885. 141,851 shares of the company’s stock were exchanged. First Republic Bank has a 52-week low of $72.40 and a 52-week high of $105.52. The firm’s 50 day moving average price is $98.27 and its 200 day moving average price is $96.69. The company has a market cap of $16.55 billion, a PE ratio of 25.588 and a beta of 1.01.

First Republic Bank (NYSE:FRC) last issued its earnings results on Friday, July 14th. The bank reported $1.06 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.03). The business had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $671.27 million. First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.97 earnings per share. On average, analysts expect that First Republic Bank will post $4.46 earnings per share for the current year.

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.

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

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