First Republic Bank (FRC) Shares Sold by Dai Ichi Life Insurance Company Ltd

Share on StockTwits

Dai Ichi Life Insurance Company Ltd cut its stake in First Republic Bank (NYSE:FRC) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,832 shares of the bank’s stock after selling 721 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in First Republic Bank were worth $1,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management raised its position 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 valued at $4,114,000 after purchasing an additional 500 shares during the period. Blair William & Co. IL raised its position 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 valued at $664,000 after purchasing an additional 510 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of First Republic Bank by 3.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 16,706 shares of the bank’s stock valued at $1,617,000 after purchasing an additional 514 shares during the period. Barings LLC raised its position 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 valued at $1,844,000 after purchasing an additional 538 shares during the period. Finally, Candriam Luxembourg S.C.A. raised its position 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 valued at $1,743,000 after purchasing an additional 615 shares during the period.

FRC has been the topic of several research reports. Wedbush restated an “outperform” rating on shares of First Republic Bank in a research note on Friday, July 13th. BMO Capital Markets upped 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 research note on Friday, July 13th. Wells Fargo & Co upped 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 research note on Tuesday, June 26th. Jefferies Financial Group restated a “hold” rating and issued a $96.00 price target on shares of First Republic Bank in a research note on Monday, July 16th. Finally, Citigroup initiated coverage on shares of First Republic Bank in a research note on Monday, June 18th. They issued a “buy” rating and a $120.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $102.46.

FRC stock opened at $102.80 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 0.99. 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 $16.12 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 1.75 and a beta of 0.84.

First Republic Bank (NYSE:FRC) last released its quarterly earnings results 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. The business had revenue of $744.11 million for the quarter, compared to the consensus estimate of $734.03 million. First Republic Bank had a net margin of 24.80% and a return on equity of 11.73%. analysts predict that First Republic Bank will post 4.78 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 9th. Shareholders of record on Thursday, July 26th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, July 25th. This represents a $0.72 dividend on an annualized basis and a yield of 0.70%. First Republic Bank’s payout ratio is 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.

Read More: What is the NASDAQ Stock Market?

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

Receive News & Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply