Korea Investment CORP increased its stake in FIRST REPUBLIC BANK (NYSE:FRC) by 69.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,528 shares of the bank’s stock after buying an additional 87,553 shares during the period. Korea Investment CORP owned about 0.14% of FIRST REPUBLIC BANK worth $21,374,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. raised its stake in shares of FIRST REPUBLIC BANK by 21.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 16,078 shares of the bank’s stock valued at $1,609,000 after buying an additional 2,812 shares in the last quarter. Sei Investments Co. raised its stake in shares of FIRST REPUBLIC BANK by 100.6% in the second quarter. Sei Investments Co. now owns 101,947 shares of the bank’s stock valued at $10,205,000 after buying an additional 51,133 shares in the last quarter. World Asset Management Inc raised its stake in shares of FIRST REPUBLIC BANK by 1.7% in the second quarter. World Asset Management Inc now owns 6,776 shares of the bank’s stock valued at $678,000 after buying an additional 115 shares in the last quarter. Barnett & Company Inc. bought a new stake in shares of FIRST REPUBLIC BANK during the second quarter valued at approximately $100,000. Finally, Ownership Capital B.V. raised its stake in shares of FIRST REPUBLIC BANK by 6.2% in the second quarter. Ownership Capital B.V. now owns 1,066,832 shares of the bank’s stock valued at $106,790,000 after buying an additional 62,732 shares in the last quarter. 99.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of FIRST REPUBLIC BANK (FRC) opened at 101.57 on Monday. The company’s 50-day moving average is $100.88 and its 200-day moving average is $95.51. FIRST REPUBLIC BANK has a 12-month low of $71.11 and a 12-month high of $104.17. The company has a market cap of $16.02 billion, a price-to-earnings ratio of 24.78 and a beta of 0.99.

FIRST REPUBLIC BANK (NYSE:FRC) last released its earnings results on Friday, July 14th. The bank reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by $0.03. FIRST REPUBLIC BANK had a return on equity of 12.16% and a net margin of 27.37%. The firm had revenue of $641.30 million for the quarter, compared to the consensus estimate of $671.27 million. During the same quarter in the previous year, the business posted $0.97 EPS. FIRST REPUBLIC BANK’s revenue was up 19.8% on a year-over-year basis. Equities research analysts predict that FIRST REPUBLIC BANK will post $4.45 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Thursday, July 27th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, July 25th. FIRST REPUBLIC BANK’s payout ratio is 16.59%.

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FRC has been the topic of several research reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $90.00 price target on shares of FIRST REPUBLIC BANK in a research report on Thursday, July 27th. BidaskClub lowered shares of FIRST REPUBLIC BANK from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. BMO Capital Markets reissued a “hold” rating and issued a $96.00 price target on shares of FIRST REPUBLIC BANK in a research report on Sunday, July 16th. Piper Jaffray Companies reissued a “hold” rating and issued a $99.00 price target on shares of FIRST REPUBLIC BANK in a research report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $109.00 price target on shares of FIRST REPUBLIC BANK in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. FIRST REPUBLIC BANK has an average rating of “Hold” and a consensus target price of $104.54.

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.

Institutional Ownership by Quarter for FIRST REPUBLIC BANK (NYSE:FRC)

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