Keybank National Association OH Acquires 1,374 Shares of First Republic Bank (FRC)

Keybank National Association OH increased its holdings in shares of First Republic Bank (NYSE:FRC) by 51.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,020 shares of the bank’s stock after acquiring an additional 1,374 shares during the period. Keybank National Association OH’s holdings in First Republic Bank were worth $420,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of First Republic Bank by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 12,886,696 shares of the bank’s stock valued at $1,289,958,000 after acquiring an additional 641,309 shares in the last quarter. BlackRock Inc. boosted its position in shares of First Republic Bank by 8.9% during the 2nd quarter. BlackRock Inc. now owns 10,708,811 shares of the bank’s stock valued at $1,071,954,000 after acquiring an additional 876,812 shares in the last quarter. Capital World Investors boosted its position in shares of First Republic Bank by 6.5% during the 2nd quarter. Capital World Investors now owns 8,068,025 shares of the bank’s stock valued at $807,609,000 after acquiring an additional 490,000 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of First Republic Bank by 13.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,745,564 shares of the bank’s stock valued at $675,230,000 after acquiring an additional 793,964 shares in the last quarter. Finally, State Street Corp boosted its position in shares of First Republic Bank by 20.3% during the 2nd quarter. State Street Corp now owns 5,995,443 shares of the bank’s stock valued at $600,135,000 after acquiring an additional 1,010,648 shares in the last quarter. Institutional investors and hedge funds own 98.40% of the company’s stock.

A number of research firms have commented on FRC. Piper Jaffray Companies set a $99.00 price target on shares of First Republic Bank and gave the company a “hold” rating in a research report on Sunday, October 15th. Jefferies Group LLC boosted their price target on shares of First Republic Bank from $109.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Barclays PLC lowered shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $108.00 to $104.00 in a research report on Tuesday, October 10th. Wells Fargo & Company reduced their price target on shares of First Republic Bank from $100.00 to $95.00 and set a “market perform” rating on the stock in a research report on Monday, October 16th. Finally, BMO Capital Markets reduced their price target on shares of First Republic Bank from $96.00 to $92.00 and set a “market perform” rating on the stock in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $102.93.

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First Republic Bank (NYSE FRC) opened at $92.31 on Friday. First Republic Bank has a 12 month low of $80.55 and a 12 month high of $105.52. The firm has a market cap of $14,480.00, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.95 and a quick ratio of 0.94.

First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.02). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The company had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. During the same period in the prior year, the firm posted $1.00 earnings per share. The company’s revenue was up 20.1% on a year-over-year basis. sell-side analysts anticipate that First Republic Bank will post 4.37 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Thursday, October 26th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Wednesday, October 25th. First Republic Bank’s dividend payout ratio is presently 16.04%.

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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