Investors Sell Shares of FIRST REPUBLIC BANK (FRC) on Strength (FRC)

Investors sold shares of FIRST REPUBLIC BANK (NYSE:FRC) on strength during trading hours on Friday. $41.58 million flowed into the stock on the tick-up and $64.50 million flowed out of the stock on the tick-down, for a money net flow of $22.92 million out of the stock. Of all companies tracked, FIRST REPUBLIC BANK had the 0th highest net out-flow for the day. FIRST REPUBLIC BANK traded up $0.56 for the day and closed at $94.45

FRC has been the topic of a number of research reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $98.00 target price on shares of FIRST REPUBLIC BANK in a research report on Friday, July 7th. Barclays PLC reaffirmed an “equal weight” rating and set a $110.00 target price (up previously from $101.00) on shares of FIRST REPUBLIC BANK in a research report on Wednesday, July 12th. BidaskClub lowered shares of FIRST REPUBLIC BANK from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Maxim Group reaffirmed a “buy” rating and set a $110.00 target price (up previously from $105.00) on shares of FIRST REPUBLIC BANK in a research report on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $109.00 target price on shares of FIRST REPUBLIC BANK in a research report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $102.93.

The stock has a market cap of $14,900.15, a price-to-earnings ratio of 22.28, a PEG ratio of 1.75 and a beta of 0.99. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.95.

FIRST REPUBLIC BANK (NYSE:FRC) last announced its quarterly 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 net margin of 26.85% and a return on equity of 12.06%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the firm earned $1.00 EPS. equities research analysts forecast that FIRST REPUBLIC BANK will post 4.38 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Thursday, October 26th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Wednesday, October 25th. FIRST REPUBLIC BANK’s payout ratio is 16.04%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of FIRST REPUBLIC BANK by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 12,886,696 shares of the bank’s stock worth $1,289,958,000 after purchasing an additional 641,309 shares during the last quarter. BlackRock Inc. grew its holdings in shares of FIRST REPUBLIC BANK by 8.9% in the 2nd quarter. BlackRock Inc. now owns 10,708,811 shares of the bank’s stock worth $1,071,954,000 after purchasing an additional 876,812 shares during the last quarter. Capital World Investors grew its holdings in shares of FIRST REPUBLIC BANK by 6.5% in the 2nd quarter. Capital World Investors now owns 8,068,025 shares of the bank’s stock worth $807,609,000 after purchasing an additional 490,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of FIRST REPUBLIC BANK by 13.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,745,564 shares of the bank’s stock worth $675,230,000 after purchasing an additional 793,964 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of FIRST REPUBLIC BANK by 20.3% in the 2nd quarter. State Street Corp now owns 5,995,443 shares of the bank’s stock worth $600,135,000 after purchasing an additional 1,010,648 shares during the last quarter. 97.80% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Investors Sell Shares of FIRST REPUBLIC BANK (FRC) on Strength (FRC)” was originally posted by Community Financial News and is owned by of Community Financial News. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.com-unik.info/2017/11/04/investors-sell-shares-of-first-republic-bank-frc-on-strength-frc.html.

About FIRST REPUBLIC BANK

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.

What are top analysts saying about FIRST REPUBLIC BANK? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for FIRST REPUBLIC BANK and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit