First Republic Bank (FRC) Shares Sold by Dana Investment Advisors Inc.
Dana Investment Advisors Inc. trimmed its position in shares of First Republic Bank (NYSE:FRC) by 12.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,219 shares of the bank’s stock after selling 2,789 shares during the quarter. Dana Investment Advisors Inc.’s holdings in First Republic Bank were worth $1,924,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FRC. Barnett & Company Inc. purchased a new stake in First Republic Bank during the second quarter worth $100,000. Parallel Advisors LLC boosted its position in First Republic Bank by 628.2% during the first quarter. Parallel Advisors LLC now owns 1,085 shares of the bank’s stock worth $101,000 after purchasing an additional 936 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in First Republic Bank by 100.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,071 shares of the bank’s stock worth $107,000 after purchasing an additional 537 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in First Republic Bank during the second quarter worth $128,000. Finally, Creative Planning boosted its position in First Republic Bank by 21.3% during the second quarter. Creative Planning now owns 1,407 shares of the bank’s stock worth $141,000 after purchasing an additional 247 shares in the last quarter. Institutional investors own 97.73% of the company’s stock.
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First Republic Bank (NYSE FRC) traded up 0.44% during trading on Friday, hitting $104.99. The stock had a trading volume of 557,317 shares. First Republic Bank has a 1-year low of $72.40 and a 1-year high of $105.52. The stock has a market cap of $16.56 billion, a PE ratio of 25.61 and a beta of 1.01. The firm’s 50-day moving average price is $98.86 and its 200-day moving average price is $96.88.
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 consensus estimate of $1.09 by ($0.03). The company had revenue of $641.30 million for the quarter, compared to the consensus estimate of $671.27 million. First Republic Bank had a return on equity of 12.16% and a net margin of 27.37%. The business’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 earnings per share. On average, equities research analysts predict that First Republic Bank will post $4.45 earnings per share for the current fiscal year.
A number of analysts have commented on FRC shares. Wedbush reiterated an “outperform” rating and set a $121.00 target price on shares of First Republic Bank in a research report on Tuesday, June 27th. BidaskClub upgraded First Republic Bank from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Jefferies Group LLC reiterated a “buy” rating and set a $109.00 target price on shares of First Republic Bank in a research report on Sunday, June 11th. Barclays PLC reiterated an “equal weight” rating and set a $110.00 target price (up from $101.00) on shares of First Republic Bank in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $98.00 target price on shares of First Republic Bank in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $105.42.
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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