Janus Henderson Group PLC Reduces Stake in First Republic Bank (FRC)

Janus Henderson Group PLC trimmed its stake in shares of First Republic Bank (NYSE:FRC) by 57.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 320,003 shares of the bank’s stock after selling 424,141 shares during the quarter. Janus Henderson Group PLC owned about 0.20% of First Republic Bank worth $33,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of First Republic Bank by 21.4% during the 2nd quarter. Parallel Advisors LLC now owns 1,317 shares of the bank’s stock worth $132,000 after purchasing an additional 232 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in shares of First Republic Bank by 0.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,953 shares of the bank’s stock valued at $195,000 after acquiring an additional 5 shares during the last quarter. Mawer Investment Management Ltd. bought a new position in shares of First Republic Bank in the third quarter valued at approximately $209,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of First Republic Bank in the third quarter valued at approximately $209,000. Finally, Brookmont Capital Management bought a new position in shares of First Republic Bank in the third quarter valued at approximately $210,000. Institutional investors and hedge funds own 98.85% of the company’s stock.

First Republic Bank (NYSE:FRC) opened at $88.01 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. First Republic Bank has a 1 year low of $86.73 and a 1 year high of $105.52. The firm has a market cap of $13,945.67, a P/E ratio of 20.85, a P/E/G ratio of 1.62 and a beta of 0.96.

First Republic Bank (NYSE:FRC) last posted its quarterly earnings data on Friday, October 13th. The bank reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). First Republic Bank had a return on equity of 12.06% and a net margin of 26.85%. The company had revenue of $670.30 million during the quarter, compared to the consensus estimate of $678.25 million. During the same quarter last year, the firm earned $1.00 EPS. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. analysts expect that First Republic Bank will post 4.44 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on the stock. Jefferies Group cut shares of First Republic Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Morgan Stanley reiterated an “equal weight” rating and issued a $106.00 target price on shares of First Republic Bank in a research note on Thursday, December 14th. Zacks Investment Research upgraded shares of First Republic Bank from a “sell” rating to a “hold” rating in a research note on Friday, December 8th. Barclays set a $102.00 target price on shares of First Republic Bank and gave the company a “hold” rating in a research note on Monday, October 16th. Finally, Raymond James Financial cut their target price on shares of First Republic Bank from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. First Republic Bank has a consensus rating of “Hold” and a consensus price target of $103.07.

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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.

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

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