United Services Automobile Association increased its position in shares of First Republic Bank (NYSE:FRC) by 136.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,737 shares of the bank’s stock after buying an additional 33,908 shares during the period. United Services Automobile Association’s holdings in First Republic Bank were worth $5,685,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. increased its position in shares of First Republic Bank by 1.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,092,149 shares of the bank’s stock worth $589,659,000 after purchasing an additional 114,606 shares during the last quarter. Bank of America Corp DE increased its position in shares of First Republic Bank by 72.2% in the 2nd quarter. Bank of America Corp DE now owns 3,428,956 shares of the bank’s stock worth $331,887,000 after purchasing an additional 1,437,779 shares during the last quarter. Royal Bank of Canada increased its position in shares of First Republic Bank by 6.1% in the 1st quarter. Royal Bank of Canada now owns 2,699,827 shares of the bank’s stock worth $250,031,000 after purchasing an additional 155,154 shares during the last quarter. Select Equity Group L.P. increased its position in shares of First Republic Bank by 15.4% in the 2nd quarter. Select Equity Group L.P. now owns 1,975,797 shares of the bank’s stock worth $191,237,000 after purchasing an additional 263,150 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of First Republic Bank by 2.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,702,042 shares of the bank’s stock worth $164,741,000 after purchasing an additional 34,672 shares during the last quarter.

Shares of NYSE:FRC opened at $93.12 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.59. First Republic Bank has a fifty-two week low of $84.56 and a fifty-two week high of $106.75. The stock has a market cap of $15.14 billion, a P/E ratio of 21.61, a price-to-earnings-growth ratio of 1.64 and a beta of 0.84.

First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Friday, October 12th. The bank reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). First Republic Bank had a net margin of 24.80% and a return on equity of 11.73%. During the same quarter in the prior year, the company posted $1.14 EPS. On average, equities analysts expect that First Republic Bank will post 4.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 8th. Shareholders of record on Thursday, October 25th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.77%. First Republic Bank’s payout ratio is 16.71%.

Several research firms have recently weighed in on FRC. Piper Jaffray Companies reissued a “hold” rating and issued a $94.00 target price on shares of First Republic Bank in a research report on Tuesday. Royal Bank of Canada boosted their target price on shares of First Republic Bank to $102.00 and gave the stock a “sector perform” rating in a research report on Thursday, September 13th. They noted that the move was a valuation call. Wedbush reaffirmed an “outperform” rating on shares of First Republic Bank in a research report on Friday, July 13th. Jefferies Financial Group reaffirmed a “hold” rating and set a $96.00 price objective on shares of First Republic Bank in a research report on Monday, July 16th. Finally, BMO Capital Markets boosted their price objective on shares of 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. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $102.54.

About First Republic Bank

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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