O Shaughnessy Asset Management LLC Has $177,000 Stake in First Republic Bank (NYSE:FRC)

O Shaughnessy Asset Management LLC lifted its position in shares of First Republic Bank (NYSE:FRC) by 44.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 947 shares of the bank’s stock after acquiring an additional 290 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in First Republic Bank were worth $177,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. acquired a new stake in shares of First Republic Bank during the 1st quarter valued at $52,000. FORA Capital LLC acquired a new position in First Republic Bank during the 1st quarter worth about $53,000. CX Institutional lifted its holdings in First Republic Bank by 29.2% during the 2nd quarter. CX Institutional now owns 345 shares of the bank’s stock worth $65,000 after buying an additional 78 shares during the period. Berman Capital Advisors LLC lifted its holdings in First Republic Bank by 24.1% during the 1st quarter. Berman Capital Advisors LLC now owns 422 shares of the bank’s stock worth $70,000 after buying an additional 82 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in First Republic Bank by 36.6% during the 1st quarter. First Horizon Advisors Inc. now owns 508 shares of the bank’s stock worth $84,000 after buying an additional 136 shares during the period. 96.75% of the stock is currently owned by institutional investors.

Several research analysts have commented on FRC shares. Zacks Investment Research downgraded First Republic Bank from a “buy” rating to a “hold” rating and set a $206.00 target price on the stock. in a report on Wednesday, June 9th. Keefe, Bruyette & Woods boosted their price objective on First Republic Bank from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, July 13th. Maxim Group boosted their price objective on First Republic Bank from $210.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, July 14th. Barclays boosted their price objective on First Republic Bank from $177.00 to $205.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 14th. Finally, Morgan Stanley boosted their price objective on First Republic Bank from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, August 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $186.31.

Shares of FRC opened at $192.83 on Tuesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day moving average price of $197.96 and a two-hundred day moving average price of $187.13. The firm has a market capitalization of $33.20 billion, a P/E ratio of 27.75, a P/E/G ratio of 1.58 and a beta of 1.12. First Republic Bank has a 52 week low of $100.38 and a 52 week high of $204.68.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings data on Monday, July 12th. The bank reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.22. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.18 billion. First Republic Bank had a return on equity of 12.40% and a net margin of 26.82%. During the same period in the previous year, the company posted $1.40 EPS. On average, equities analysts forecast that First Republic Bank will post 7.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 12th. Stockholders of record on Thursday, July 29th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Wednesday, July 28th. First Republic Bank’s dividend payout ratio is presently 15.15%.

First Republic Bank Company Profile

First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk.

Further Reading: What can cause a stock to outperform?

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

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