Sarasin & Partners LLP purchased a new stake in First Republic Bank (NYSE:FRC) during the third quarter, Holdings Channel reports. The firm purchased 547,028 shares of the company’s stock, valued at approximately $42,181,000.

A number of other institutional investors also recently modified their holdings of the company. Emerald Acquisition Ltd. bought a new position in shares of First Republic Bank during the second quarter valued at approximately $73,509,000. Fiera Capital Corp bought a new position in shares of First Republic Bank during the second quarter valued at approximately $67,938,000. Royal Bank of Canada raised its position in shares of First Republic Bank by 66.9% in the second quarter. Royal Bank of Canada now owns 2,320,272 shares of the company’s stock valued at $162,397,000 after buying an additional 929,702 shares during the period. Allianz Asset Management AG raised its position in shares of First Republic Bank by 253.2% in the second quarter. Allianz Asset Management AG now owns 727,776 shares of the company’s stock valued at $50,937,000 after buying an additional 521,738 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of First Republic Bank by 4.8% in the second quarter. Vanguard Group Inc. now owns 10,719,022 shares of the company’s stock valued at $750,225,000 after buying an additional 493,190 shares during the period. 99.31% of the stock is owned by hedge funds and other institutional investors.

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

First Republic Bank (NYSE:FRC) traded up 1.72% on Wednesday, reaching $82.93. 154,700 shares of the company’s stock were exchanged. The stock has a market capitalization of $12.45 billion, a PE ratio of 22.16 and a beta of 0.93. First Republic Bank has a 12 month low of $56.32 and a 12 month high of $86.32. The firm has a 50 day moving average of $77.69 and a 200 day moving average of $73.79.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings results on Thursday, October 13th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.99 by $0.01. The business earned $557.90 million during the quarter, compared to analysts’ expectations of $592.65 million. First Republic Bank had a net margin of 27.68% and a return on equity of 12.95%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. Equities analysts predict that First Republic Bank will post $3.92 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Thursday, October 27th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Tuesday, October 25th. First Republic Bank’s dividend payout ratio is currently 17.34%.

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Several equities research analysts have recently issued reports on FRC shares. Zacks Investment Research lowered shares of First Republic Bank from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Barclays PLC set a $81.00 price objective on shares of First Republic Bank and gave the stock a “buy” rating in a research report on Saturday, October 15th. Deutsche Bank AG increased their price objective on shares of First Republic Bank from $83.00 to $85.00 and gave the stock a “hold” rating in a research report on Tuesday, October 11th. Morgan Stanley lowered shares of First Republic Bank from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $77.00 to $85.00 in a research report on Wednesday, November 16th. They noted that the move was a valuation call. Finally, Maxim Group increased their price objective on shares of First Republic Bank from $83.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, October 14th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $80.55.

About First Republic Bank

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.

5 Day Chart for NYSE:FRC

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