First Republic Bank (FRC) is Ensemble Capital Management LLC’s 7th Largest Position

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Ensemble Capital Management LLC trimmed its holdings in shares of First Republic Bank (NYSE:FRC) by 3.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 338,021 shares of the bank’s stock after selling 10,605 shares during the period. First Republic Bank comprises about 5.6% of Ensemble Capital Management LLC’s portfolio, making the stock its 7th largest position. Ensemble Capital Management LLC’s holdings in First Republic Bank were worth $32,717,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in First Republic Bank by 15.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,345,785 shares of the bank’s stock worth $130,259,000 after acquiring an additional 184,829 shares in the last quarter. Whittier Trust Co. grew its holdings in First Republic Bank by 6.0% during the 2nd quarter. Whittier Trust Co. now owns 29,046 shares of the bank’s stock worth $2,811,000 after acquiring an additional 1,644 shares in the last quarter. Hugh Johnson Advisors LLC grew its holdings in First Republic Bank by 1.4% during the 2nd quarter. Hugh Johnson Advisors LLC now owns 76,316 shares of the bank’s stock worth $7,387,000 after acquiring an additional 1,089 shares in the last quarter. Meadow Creek Investment Management LLC grew its holdings in First Republic Bank by 22.2% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 181,216 shares of the bank’s stock worth $17,540,000 after acquiring an additional 32,912 shares in the last quarter. Finally, SFE Investment Counsel grew its holdings in First Republic Bank by 11.7% during the 2nd quarter. SFE Investment Counsel now owns 47,204 shares of the bank’s stock worth $4,569,000 after acquiring an additional 4,936 shares in the last quarter.

FRC has been the topic of a number of recent analyst reports. Citigroup initiated coverage on shares of First Republic Bank in a report on Monday, June 18th. They issued a “buy” rating and a $120.00 price target on the stock. Jefferies Financial Group restated a “hold” rating and issued a $96.00 price target on shares of First Republic Bank in a report on Monday, July 16th. BMO Capital Markets raised their price target on shares of First Republic Bank from $96.00 to $102.00 and gave the company a “market perform” rating in a report on Friday, July 13th. Wells Fargo & Co raised their price target on shares of First Republic Bank from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Tuesday, June 26th. Finally, Wedbush restated an “outperform” rating on shares of First Republic Bank in a report on Friday, July 13th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. First Republic Bank currently has an average rating of “Hold” and a consensus price target of $102.46.

NYSE:FRC opened at $102.80 on Friday. 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 capitalization of $16.12 billion, a PE ratio of 22.36, a PEG ratio of 1.75 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 released its quarterly earnings results on Friday, July 13th. The bank reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.05. The business had revenue of $744.11 million for the quarter, compared to analysts’ expectations of $734.03 million. First Republic Bank had a net margin of 24.80% and a return on equity of 11.73%. equities research analysts forecast that First Republic Bank will post 4.78 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 9th. Investors of record on Thursday, July 26th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Wednesday, July 25th. First Republic Bank’s payout ratio is currently 16.71%.

First Republic Bank Company 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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