Investors sold shares of First Republic Bank (NYSE:FRC) on strength during trading hours on Monday following a weaker than expected earnings announcement. $56.41 million flowed into the stock on the tick-up and $78.58 million flowed out of the stock on the tick-down, for a money net flow of $22.17 million out of the stock. Of all companies tracked, First Republic Bank had the 0th highest net out-flow for the day. First Republic Bank traded up $1.69 for the day and closed at $96.66The bank reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). First Republic Bank had a net margin of 26.85% and a return on equity of 12.06%. The company had revenue of $670.30 million during the quarter, compared to analysts’ expectations of $678.25 million. During the same quarter in the previous year, the firm posted $1.00 earnings per share. First Republic Bank’s revenue for the quarter was up 20.1% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Thursday, October 26th will be issued a $0.17 dividend. The ex-dividend date is Wednesday, October 25th. This represents a $0.68 dividend on an annualized basis and a yield of 0.70%. First Republic Bank’s payout ratio is 16.04%.

A number of equities research analysts recently issued reports on FRC shares. Jefferies Group LLC boosted their target price on shares of First Republic Bank from $109.00 to $120.00 and gave the company a “buy” rating in a report on Friday, September 29th. BidaskClub downgraded shares of First Republic Bank from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Royal Bank Of Canada restated a “hold” rating and issued a $98.00 target price on shares of First Republic Bank in a report on Friday, July 7th. Barclays PLC set a $102.00 price objective on shares of First Republic Bank and gave the stock a “hold” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $87.00 price objective on shares of First Republic Bank in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. First Republic Bank currently has a consensus rating of “Hold” and an average target price of $103.57.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. lifted its position in shares of First Republic Bank by 0.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock worth $195,000 after purchasing an additional 5 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of First Republic Bank by 0.3% during the second quarter. Alps Advisors Inc. now owns 4,979 shares of the bank’s stock worth $498,000 after purchasing an additional 13 shares in the last quarter. Somerset Trust Co lifted its position in shares of First Republic Bank by 0.4% during the second quarter. Somerset Trust Co now owns 9,186 shares of the bank’s stock worth $919,000 after purchasing an additional 40 shares in the last quarter. Global X Management Co. LLC lifted its position in shares of First Republic Bank by 1.1% during the second quarter. Global X Management Co. LLC now owns 5,935 shares of the bank’s stock worth $594,000 after purchasing an additional 62 shares in the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in shares of First Republic Bank by 0.3% during the second quarter. Xact Kapitalforvaltning AB now owns 19,486 shares of the bank’s stock worth $1,951,000 after purchasing an additional 65 shares in the last quarter. 97.72% of the stock is currently owned by institutional investors and hedge funds.

The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 22.75 and a beta of 1.01. The company has a 50-day moving average price of $99.63 and a 200-day moving average price of $97.34.

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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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