Shares of First Republic Bank (NYSE:FRC) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $73.75 and last traded at $73.60, with a volume of 317,764 shares traded. The stock had previously closed at $71.39.

A number of brokerages have recently issued reports on FRC. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of First Republic Bank in a research report on Sunday, July 17th. BMO Capital Markets reiterated a “market perform” rating and set a $71.00 price target on shares of First Republic Bank in a research report on Friday, July 15th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of First Republic Bank in a research report on Sunday, July 17th. FBR & Co reaffirmed a “hold” rating on shares of First Republic Bank in a research report on Sunday, July 17th. Finally, Zacks Investment Research lowered First Republic Bank from a “buy” rating to a “hold” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $73.92.

The firm has a market capitalization of $11.01 billion and a price-to-earnings ratio of 20.64. The stock has a 50-day moving average of $70.19 and a 200 day moving average of $67.71.

First Republic Bank (NYSE:FRC) last released its quarterly earnings data on Thursday, July 14th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.06. The company had revenue of $535.10 million for the quarter, compared to analyst estimates of $568.53 million. During the same quarter in the prior year, the company earned $0.73 earnings per share. Analysts anticipate that First Republic Bank will post $3.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Thursday, July 28th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Tuesday, July 26th.

A number of institutional investors recently added to or reduced their stakes in FRC. Jennison Associates LLC boosted its position in First Republic Bank by 0.7% in the fourth quarter. Jennison Associates LLC now owns 2,338,060 shares of the company’s stock worth $154,452,000 after buying an additional 15,870 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in First Republic Bank by 11.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 614,884 shares of the company’s stock worth $40,619,000 after buying an additional 61,368 shares in the last quarter. Morgan Stanley boosted its position in First Republic Bank by 21.5% in the fourth quarter. Morgan Stanley now owns 438,182 shares of the company’s stock worth $28,947,000 after buying an additional 77,447 shares in the last quarter. Wells Fargo & Company MN boosted its position in First Republic Bank by 11.5% in the fourth quarter. Wells Fargo & Company MN now owns 427,427 shares of the company’s stock worth $28,236,000 after buying an additional 44,177 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in First Republic Bank by 21.4% in the fourth quarter. Schroder Investment Management Group now owns 411,935 shares of the company’s stock worth $27,212,000 after buying an additional 72,600 shares in the last quarter.

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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