Dupont Capital Management Corp Lowers Stock Position in First Republic Bank (NYSE:FRC)

Dupont Capital Management Corp reduced its stake in shares of First Republic Bank (NYSE:FRC) by 26.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,495 shares of the bank’s stock after selling 1,991 shares during the period. Dupont Capital Management Corp’s holdings in First Republic Bank were worth $582,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Harbour Capital Advisors LLC lifted its position in shares of First Republic Bank by 0.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 18,372 shares of the bank’s stock valued at $1,947,000 after buying an additional 95 shares in the last quarter. Sage Rhino Capital LLC lifted its holdings in First Republic Bank by 2.5% in the 1st quarter. Sage Rhino Capital LLC now owns 4,254 shares of the bank’s stock worth $350,000 after purchasing an additional 103 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in First Republic Bank by 1.1% in the 1st quarter. Crossmark Global Holdings Inc. now owns 9,611 shares of the bank’s stock worth $791,000 after purchasing an additional 109 shares in the last quarter. Southeast Asset Advisors Inc. lifted its holdings in First Republic Bank by 0.5% in the 1st quarter. Southeast Asset Advisors Inc. now owns 27,277 shares of the bank’s stock worth $2,244,000 after purchasing an additional 124 shares in the last quarter. Finally, First Allied Advisory Services Inc. lifted its holdings in First Republic Bank by 1.5% in the 1st quarter. First Allied Advisory Services Inc. now owns 8,132 shares of the bank’s stock worth $669,000 after purchasing an additional 124 shares in the last quarter. 97.73% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on FRC. Bank of America boosted their price target on First Republic Bank from $139.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Credit Suisse Group boosted their price target on First Republic Bank from $93.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Morgan Stanley boosted their price target on First Republic Bank from $100.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, June 8th. Wells Fargo & Co boosted their price target on First Republic Bank from $68.00 to $85.00 and gave the stock an “underweight” rating in a report on Wednesday, July 15th. Finally, Barclays upped their price objective on First Republic Bank from $111.00 to $120.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $114.41.

NYSE FRC opened at $112.48 on Friday. The company has a market cap of $19.36 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.68 and a beta of 1.18. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50 day moving average price is $108.59 and its 200-day moving average price is $104.58. First Republic Bank has a fifty-two week low of $70.06 and a fifty-two week high of $125.12.

First Republic Bank (NYSE:FRC) last released its earnings results on Tuesday, July 14th. The bank reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.23. The firm had revenue of $943.40 million for the quarter, compared to the consensus estimate of $937.90 million. First Republic Bank had a return on equity of 10.68% and a net margin of 22.03%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS. As a group, equities analysts predict that First Republic Bank will post 5.34 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Wednesday, July 29th. First Republic Bank’s dividend payout ratio is currently 15.38%.

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 in 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, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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Institutional Ownership by Quarter for First Republic Bank (NYSE:FRC)

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