Hahn Capital Management LLC lowered its stake in First Republic Bank (NYSE:FRC) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 360,772 shares of the bank’s stock after selling 1,538 shares during the period. First Republic Bank makes up approximately 3.7% of Hahn Capital Management LLC’s holdings, making the stock its 9th largest holding. Hahn Capital Management LLC owned about 0.23% of First Republic Bank worth $37,686,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in FRC. Harding Loevner LP increased its holdings in shares of First Republic Bank by 112.9% in the third quarter. Harding Loevner LP now owns 4,734,746 shares of the bank’s stock worth $227,383,000 after buying an additional 2,510,888 shares during the period. Artisan Partners Limited Partnership purchased a new position in shares of First Republic Bank in the second quarter worth about $211,296,000. State Street Corp increased its holdings in shares of First Republic Bank by 20.3% in the second quarter. State Street Corp now owns 5,995,443 shares of the bank’s stock worth $600,135,000 after buying an additional 1,010,648 shares during the period. BlackRock Inc. increased its holdings in shares of First Republic Bank by 8.9% in the second quarter. BlackRock Inc. now owns 10,708,811 shares of the bank’s stock worth $1,071,954,000 after buying an additional 876,812 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of First Republic Bank by 13.3% in the second quarter. JPMorgan Chase & Co. now owns 6,745,564 shares of the bank’s stock worth $675,230,000 after buying an additional 793,964 shares during the period. Hedge funds and other institutional investors own 99.14% of the company’s stock.
Shares of First Republic Bank (NYSE:FRC) opened at $88.81 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $14,447.34, a PE ratio of 21.60, a P/E/G ratio of 1.69 and a beta of 0.96. First Republic Bank has a 12 month low of $87.91 and a 12 month high of $105.52.
First Republic Bank (NYSE:FRC) last posted its earnings results on Friday, October 13th. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.16 by ($0.02). The business had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. analysts predict that First Republic Bank will post 4.41 EPS for the current fiscal year.
Several research firms have recently commented on FRC. Piper Jaffray Companies set a $99.00 price objective on First Republic Bank and gave the stock a “hold” rating in a report on Sunday, October 15th. Jefferies Group raised their target price on First Republic Bank from $109.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, September 29th. Barclays cut First Republic Bank from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $108.00 to $104.00 in a research note on Tuesday, October 10th. Wells Fargo & Company cut their target price on First Republic Bank from $100.00 to $95.00 and set a “market perform” rating on the stock in a research note on Monday, October 16th. Finally, Zacks Investment Research raised First Republic Bank from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $102.93.
First Republic Bank 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.
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