First Republic Bank (NYSE:FRC) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its position in First Republic Bank (NYSE:FRC) by 28.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 61,391 shares of the bank’s stock after selling 24,937 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in First Republic Bank were worth $11,491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its holdings in shares of First Republic Bank by 5.0% in the first quarter. Commonwealth Equity Services LLC now owns 4,050 shares of the bank’s stock valued at $675,000 after acquiring an additional 194 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of First Republic Bank by 123.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,585 shares of the bank’s stock valued at $1,765,000 after acquiring an additional 5,848 shares in the last quarter. American International Group Inc. boosted its holdings in shares of First Republic Bank by 0.7% in the first quarter. American International Group Inc. now owns 59,692 shares of the bank’s stock valued at $9,954,000 after acquiring an additional 400 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of First Republic Bank by 2.9% in the first quarter. BlackRock Inc. now owns 11,832,750 shares of the bank’s stock valued at $1,973,112,000 after acquiring an additional 333,492 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of First Republic Bank by 50.4% in the first quarter. Advisors Asset Management Inc. now owns 22,342 shares of the bank’s stock valued at $3,726,000 after acquiring an additional 7,490 shares in the last quarter. Hedge funds and other institutional investors own 96.75% of the company’s stock.

Shares of NYSE:FRC opened at $197.61 on Friday. 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 company has a market cap of $34.03 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 1.58 and a beta of 1.12. First Republic Bank has a 52 week low of $102.11 and a 52 week high of $204.68. The firm has a 50 day simple moving average of $197.74 and a 200 day simple moving average of $187.57.

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

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 12th. Stockholders of record on Thursday, July 29th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, July 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.45%. First Republic Bank’s dividend payout ratio is currently 15.15%.

Several research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of First Republic Bank from $177.00 to $205.00 and gave the company an “equal weight” rating in a report on Wednesday, July 14th. Keefe, Bruyette & Woods raised their target price on shares of First Republic Bank from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, July 13th. JPMorgan Chase & Co. raised their target price on shares of First Republic Bank from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, June 2nd. Morgan Stanley raised their target price on shares of First Republic Bank from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, August 2nd. Finally, Credit Suisse Group raised their target price on shares of First Republic Bank from $163.00 to $180.00 and gave the stock an “underperform” rating in a report on Wednesday, July 14th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, First Republic Bank presently has an average rating of “Hold” and a consensus target price of $186.31.

First Republic Bank 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.

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

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