Xact Kapitalforvaltning AB Buys 1,468 Shares of First Republic Bank (FRC)

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Xact Kapitalforvaltning AB grew its stake in First Republic Bank (NYSE:FRC) by 8.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,671 shares of the bank’s stock after purchasing an additional 1,468 shares during the period. Xact Kapitalforvaltning AB’s holdings in First Republic Bank were worth $1,822,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its position in First Republic Bank by 2.5% in the 1st quarter. Baillie Gifford & Co. now owns 5,977,543 shares of the bank’s stock worth $553,580,000 after purchasing an additional 147,097 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in First Republic Bank by 18.8% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,093,649 shares of the bank’s stock worth $286,503,000 after purchasing an additional 489,056 shares in the last quarter. Royal Bank of Canada boosted its position in First Republic Bank by 6.1% in the 1st quarter. Royal Bank of Canada now owns 2,699,827 shares of the bank’s stock worth $250,031,000 after purchasing an additional 155,154 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in First Republic Bank by 3.9% in the 1st quarter. Artisan Partners Limited Partnership now owns 2,642,243 shares of the bank’s stock worth $244,698,000 after purchasing an additional 98,574 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in First Republic Bank by 1,502.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 2,202,069 shares of the bank’s stock worth $203,934,000 after purchasing an additional 2,064,678 shares in the last quarter.

Shares of First Republic Bank opened at $98.14 on Wednesday, Marketbeat reports. First Republic Bank has a 1 year low of $84.56 and a 1 year high of $105.52. The company has a market cap of $15.66 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 1.63 and a beta of 0.85. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.96 and a current ratio of 0.97.

First Republic Bank (NYSE:FRC) last announced its earnings results on Friday, April 13th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.07. First Republic Bank had a return on equity of 11.76% and a net margin of 25.33%. The firm had revenue of $720.90 million for the quarter, compared to analyst estimates of $732.68 million. During the same quarter last year, the firm posted $1.01 EPS. The business’s revenue was up 10.9% on a year-over-year basis. sell-side analysts expect that First Republic Bank will post 4.8 EPS for the current fiscal year.

Several equities research analysts have commented on FRC shares. UBS Group started coverage on First Republic Bank in a research report on Wednesday, March 21st. They issued a “neutral” rating and a $100.00 price objective on the stock. Zacks Investment Research upgraded First Republic Bank from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Barclays upgraded First Republic Bank from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $93.00 to $110.00 in a research report on Tuesday, March 6th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $95.00 price objective on shares of First Republic Bank in a research report on Tuesday, February 27th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $88.00 target price on shares of First Republic Bank in a research report on Wednesday, April 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $102.50.

First Republic Bank Company Profile

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

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

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