Sapience Investments LLC Boosts Position in First Republic Bank (FRC)

Sapience Investments LLC boosted its position in shares of First Republic Bank (NYSE:FRC) by 114.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,807 shares of the bank’s stock after acquiring an additional 5,760 shares during the quarter. Sapience Investments LLC’s holdings in First Republic Bank were worth $1,082,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bank of Nova Scotia purchased a new stake in First Republic Bank in the first quarter worth about $483,000. Barnett & Company Inc. purchased a new stake in First Republic Bank in the second quarter worth about $100,000. Whittier Trust Co. of Nevada Inc. increased its position in First Republic Bank by 100.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,071 shares of the bank’s stock worth $107,000 after buying an additional 537 shares in the last quarter. Parallel Advisors LLC increased its position in First Republic Bank by 628.2% in the first quarter. Parallel Advisors LLC now owns 1,085 shares of the bank’s stock worth $101,000 after buying an additional 936 shares in the last quarter. Finally, Israel Discount Bank of New York purchased a new stake in First Republic Bank in the first quarter worth about $107,000. Institutional investors own 99.92% of the company’s stock.

FRC has been the subject of a number of analyst reports. BidaskClub cut First Republic Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Piper Jaffray Companies restated a “hold” rating and issued a $99.00 price target on shares of First Republic Bank in a research report on Friday, September 1st. Jefferies Group LLC restated a “buy” rating and issued a $109.00 price target on shares of First Republic Bank in a research report on Sunday, June 11th. Barclays PLC restated an “equal weight” rating and issued a $110.00 price target (up previously from $101.00) on shares of First Republic Bank in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $98.00 price target on shares of First Republic Bank in a research report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $104.54.

First Republic Bank (NYSE FRC) traded up 0.14% during trading on Friday, hitting $100.94. The stock had a trading volume of 738,557 shares. The company has a market cap of $15.92 billion, a price-to-earnings ratio of 24.63 and a beta of 1.01. The firm’s 50-day moving average price is $97.68 and its 200-day moving average price is $96.21. First Republic Bank has a 52-week low of $72.40 and a 52-week high of $104.17.

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

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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.

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

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