Raymond James & Associates boosted its holdings in shares of First Republic Bank (NYSE:FRC) by 18.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 126,642 shares of the bank’s stock after buying an additional 19,857 shares during the period. Raymond James & Associates’ holdings in First Republic Bank were worth $12,258,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Visionary Asset Management Inc. bought a new stake in First Republic Bank during the second quarter valued at $225,000. Gofen & Glossberg LLC IL bought a new stake in First Republic Bank during the second quarter valued at $265,000. Brookmont Capital Management boosted its stake in First Republic Bank by 31.7% during the second quarter. Brookmont Capital Management now owns 2,937 shares of the bank’s stock valued at $284,000 after buying an additional 707 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in First Republic Bank by 30.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,985 shares of the bank’s stock valued at $289,000 after buying an additional 699 shares during the period. Finally, D.A. Davidson & CO. bought a new stake in First Republic Bank during the second quarter valued at $297,000.
Shares of FRC stock opened at $100.33 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.99 and a quick ratio of 0.99. First Republic Bank has a 12-month low of $84.56 and a 12-month high of $106.75. The stock has a market cap of $15.51 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 1.68 and a beta of 0.84.
FRC has been the subject of several research analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $96.00 price objective on shares of First Republic Bank in a research note on Monday, July 16th. Wedbush reissued an “outperform” rating on shares of First Republic Bank in a research note on Friday, July 13th. BMO Capital Markets lifted their price objective on First Republic Bank from $96.00 to $102.00 and gave the company a “market perform” rating in a research note on Friday, July 13th. Citigroup initiated coverage on First Republic Bank in a research note on Monday, June 18th. They set a “buy” rating and a $120.00 price objective for the company. Finally, Royal Bank of Canada lifted their price objective on First Republic Bank to $102.00 and gave the company a “sector perform” rating in a research note on Thursday, September 13th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. First Republic Bank presently has an average rating of “Hold” and a consensus target price of $102.92.
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.
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