Great West Life Assurance Co. Can increased its position in First Republic Bank (NYSE:FRC) by 2.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 86,178 shares of the bank’s stock after acquiring an additional 2,016 shares during the quarter. Great West Life Assurance Co. Can’s holdings in First Republic Bank were worth $8,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Picton Mahoney Asset Management grew its holdings in shares of First Republic Bank by 1.2% in the second quarter. Picton Mahoney Asset Management now owns 42,500 shares of the bank’s stock worth $4,114,000 after acquiring an additional 500 shares during the period. Blair William & Co. IL grew its holdings in shares of First Republic Bank by 7.7% in the first quarter. Blair William & Co. IL now owns 7,166 shares of the bank’s stock worth $664,000 after acquiring an additional 510 shares during the period. Barings LLC grew its holdings in shares of First Republic Bank by 2.9% in the second quarter. Barings LLC now owns 19,047 shares of the bank’s stock worth $1,844,000 after acquiring an additional 538 shares during the period. Candriam Luxembourg S.C.A. grew its holdings in shares of First Republic Bank by 3.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 18,817 shares of the bank’s stock worth $1,743,000 after acquiring an additional 615 shares during the period. Finally, LPL Financial LLC grew its holdings in shares of First Republic Bank by 12.9% in the first quarter. LPL Financial LLC now owns 5,731 shares of the bank’s stock worth $531,000 after acquiring an additional 656 shares during the period.

Several research firms recently weighed in on FRC. Wells Fargo & Co lifted their target price on First Republic Bank from $95.00 to $100.00 and gave the company a “market perform” rating in a research report on Tuesday, June 26th. Citigroup began coverage on First Republic Bank in a research report on Monday, June 18th. They set a “buy” rating and a $120.00 target price on the stock. BMO Capital Markets lifted their target price on First Republic Bank from $96.00 to $102.00 and gave the company a “market perform” rating in a research report on Friday, July 13th. Wedbush reiterated an “outperform” rating on shares of First Republic Bank in a research report on Friday, July 13th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $96.00 target price on shares of First Republic Bank in a research report on Monday, July 16th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. First Republic Bank currently has an average rating of “Hold” and a consensus price target of $102.46.

Shares of First Republic Bank stock opened at $103.00 on Friday. First Republic Bank has a 52 week low of $84.56 and a 52 week high of $106.75. The stock has a market capitalization of $16.25 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.76 and a beta of 0.84. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Friday, July 13th. The bank reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.05. First Republic Bank had a return on equity of 11.73% and a net margin of 24.80%. The business had revenue of $744.11 million for the quarter, compared to the consensus estimate of $734.03 million. equities research analysts anticipate that First Republic Bank will post 4.78 EPS for the current fiscal year.

First Republic Bank 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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