E Fund Management Co. Ltd. Makes New $52,000 Investment in First Republic Bank (NYSE:FRC)

E Fund Management Co. Ltd. purchased a new position in First Republic Bank (NYSE:FRC) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 309 shares of the bank’s stock, valued at approximately $52,000.

A number of other hedge funds also recently made changes to their positions in FRC. Norges Bank purchased a new stake in First Republic Bank in the 4th quarter worth $234,715,000. Alecta Pensionsforsakring Omsesidigt raised its position in shares of First Republic Bank by 34.7% during the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 3,141,312 shares of the bank’s stock valued at $523,751,000 after buying an additional 810,000 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of First Republic Bank by 97.2% during the 1st quarter. Artisan Partners Limited Partnership now owns 1,532,619 shares of the bank’s stock valued at $255,564,000 after buying an additional 755,606 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of First Republic Bank by 13.5% during the 1st quarter. Baillie Gifford & Co. now owns 4,788,696 shares of the bank’s stock valued at $798,516,000 after buying an additional 568,388 shares in the last quarter. Finally, KBC Group NV raised its position in shares of First Republic Bank by 886.3% during the 4th quarter. KBC Group NV now owns 544,550 shares of the bank’s stock valued at $80,011,000 after buying an additional 489,338 shares in the last quarter. Institutional investors and hedge funds own 97.11% of the company’s stock.

NYSE FRC opened at $191.93 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.14. The company’s 50 day simple moving average is $183.40. First Republic Bank has a 52-week low of $100.38 and a 52-week high of $197.38. The company has a market capitalization of $33.05 billion, a P/E ratio of 29.99, a PEG ratio of 1.76 and a beta of 1.11.

First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Tuesday, April 13th. The bank reported $1.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.25. First Republic Bank had a net margin of 25.63% and a return on equity of 11.76%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm earned $1.20 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, equities research analysts expect that First Republic Bank will post 7.05 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 13th. Stockholders of record on Thursday, April 29th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, April 28th. This is an increase from First Republic Bank’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.46%. First Republic Bank’s dividend payout ratio (DPR) is currently 15.15%.

FRC has been the topic of several recent research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on shares of First Republic Bank from $163.00 to $174.00 and gave the company a “neutral” rating in a research report on Wednesday, April 14th. Compass Point upped their target price on shares of First Republic Bank from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, May 18th. Jefferies Financial Group reiterated an “underperform” rating and set a $163.00 price target on shares of First Republic Bank in a report on Thursday, April 15th. Citigroup upped their price target on shares of First Republic Bank from $163.00 to $174.00 in a report on Wednesday, April 14th. Finally, Credit Suisse Group upped their price target on shares of First Republic Bank from $157.00 to $163.00 and gave the company an “underperform” rating in a report on Thursday, April 15th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. First Republic Bank has an average rating of “Hold” and an average price target of $163.94.

First Republic Bank Profile

First Republic Bank, together with its subsidiaries, provides private banking, private business banking, and private wealth management services to clients in metropolitan areas in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

Further Reading: Trading on Margin

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

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