Kiwi Wealth Investments Limited Partnership Lowers Stake in First Republic Bank (FRC)

Kiwi Wealth Investments Limited Partnership cut its holdings in shares of First Republic Bank (NYSE:FRC) by 10.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,763 shares of the bank’s stock after selling 12,782 shares during the period. Kiwi Wealth Investments Limited Partnership owned 0.07% of First Republic Bank worth $9,887,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ontario Teachers Pension Plan Board grew its position in First Republic Bank by 75.4% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 605,000 shares of the bank’s stock valued at $52,418,000 after buying an additional 260,000 shares during the last quarter. American International Group Inc. grew its position in First Republic Bank by 95.3% in the 4th quarter. American International Group Inc. now owns 7,570 shares of the bank’s stock valued at $656,000 after buying an additional 3,694 shares during the last quarter. Toronto Dominion Bank grew its position in First Republic Bank by 40.0% in the 4th quarter. Toronto Dominion Bank now owns 9,298 shares of the bank’s stock valued at $805,000 after buying an additional 2,656 shares during the last quarter. Virtus Fund Advisers LLC grew its position in First Republic Bank by 170.3% in the 4th quarter. Virtus Fund Advisers LLC now owns 1,234,325 shares of the bank’s stock valued at $106,942,000 after buying an additional 777,750 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in First Republic Bank by 20.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,193,530 shares of the bank’s stock valued at $190,047,000 after buying an additional 367,961 shares during the last quarter.

First Republic Bank opened at $99.86 on Thursday, Marketbeat.com reports. First Republic Bank has a one year low of $84.56 and a one year high of $105.52. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.97 and a quick ratio of 0.96. The firm has a market capitalization of $16.04 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.67 and a beta of 0.85.

First Republic Bank (NYSE:FRC) last released its earnings results on Friday, April 13th. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.07. First Republic Bank had a return on equity of 11.76% and a net margin of 25.33%. The company had revenue of $720.90 million during the quarter, compared to the consensus estimate of $732.68 million. During the same quarter last year, the company earned $1.01 earnings per share. First Republic Bank’s quarterly revenue was up 10.9% compared to the same quarter last year. analysts predict that First Republic Bank will post 4.8 earnings per share for the current year.

A number of equities analysts recently weighed in on FRC shares. UBS Group started coverage on shares of First Republic Bank in a research report on Wednesday, March 21st. They issued a “neutral” rating and a $100.00 price objective on the stock. Zacks Investment Research upgraded shares of First Republic Bank from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Barclays upgraded shares of First Republic Bank from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $93.00 to $110.00 in a research report on Tuesday, March 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $95.00 price objective on shares of First Republic Bank in a research report on Tuesday, February 27th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $88.00 price objective on shares of First Republic Bank in a research report on Wednesday, April 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $100.77.

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.

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

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