Segantii Capital Management Ltd Has $1.84 Million Stake in FIRST REPUBLIC BANK (NYSE:FRC)
Segantii Capital Management Ltd lowered its stake in FIRST REPUBLIC BANK (NYSE:FRC) by 3.2% during the second quarter, Holdings Channel reports. The firm owned 18,400 shares of the bank’s stock after selling 600 shares during the period. Segantii Capital Management Ltd’s holdings in FIRST REPUBLIC BANK were worth $1,842,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its stake in FIRST REPUBLIC BANK by 5.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 532,664 shares of the bank’s stock valued at $53,320,000 after buying an additional 29,734 shares during the period. Cigna Investments Inc. New bought a new stake in FIRST REPUBLIC BANK during the second quarter valued at approximately $208,000. Shine Investment Advisory Services Inc. bought a new stake in FIRST REPUBLIC BANK during the second quarter valued at approximately $128,000. Global X Management Co. LLC raised its stake in FIRST REPUBLIC BANK by 1.1% in the second quarter. Global X Management Co. LLC now owns 5,935 shares of the bank’s stock valued at $594,000 after buying an additional 62 shares during the period. Finally, Pioneer Investment Management Inc. bought a new stake in FIRST REPUBLIC BANK during the second quarter valued at approximately $6,771,000. 99.64% of the stock is currently owned by hedge funds and other institutional investors.
FIRST REPUBLIC BANK (NYSE:FRC) opened at 100.35 on Thursday. FIRST REPUBLIC BANK has a 52-week low of $71.66 and a 52-week high of $104.17. The stock has a 50 day moving average price of $100.94 and a 200 day moving average price of $95.86. The stock has a market cap of $15.82 billion, a P/E ratio of 24.48 and a beta of 0.99.
FIRST REPUBLIC BANK (NYSE:FRC) last announced its quarterly earnings results on Friday, July 14th. The bank reported $1.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by $0.03. The firm had revenue of $641.30 million for the quarter, compared to analysts’ expectations of $671.27 million. FIRST REPUBLIC BANK had a return on equity of 12.16% and a net margin of 27.37%. FIRST REPUBLIC BANK’s revenue was up 19.8% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. On average, equities research analysts forecast that FIRST REPUBLIC BANK will post $4.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Stockholders of record on Thursday, July 27th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Tuesday, July 25th. FIRST REPUBLIC BANK’s dividend payout ratio (DPR) is 16.59%.
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Several analysts recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $90.00 target price on shares of FIRST REPUBLIC BANK in a report on Thursday, July 27th. BidaskClub lowered FIRST REPUBLIC BANK from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. BMO Capital Markets reaffirmed a “hold” rating and set a $96.00 target price on shares of FIRST REPUBLIC BANK in a report on Sunday, July 16th. Piper Jaffray Companies reiterated a “hold” rating and set a $99.00 price target on shares of FIRST REPUBLIC BANK in a research report on Friday, July 14th. Finally, Jefferies Group LLC reiterated a “buy” rating and set 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’s stock. The stock has an average rating of “Hold” and an average price target of $104.54.
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.
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