Pictet Asset Management Ltd. Increases Stock Holdings in First Republic Bank (NYSE:FRC)

Pictet Asset Management Ltd. increased its holdings in First Republic Bank (NYSE:FRC) by 2.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 301,226 shares of the bank’s stock after acquiring an additional 6,971 shares during the quarter. Pictet Asset Management Ltd. owned about 0.18% of First Republic Bank worth $29,415,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Swedbank bought a new position in shares of First Republic Bank during the 2nd quarter valued at approximately $101,370,000. Geode Capital Management LLC boosted its position in First Republic Bank by 57.4% during the fourth quarter. Geode Capital Management LLC now owns 2,097,305 shares of the bank’s stock worth $181,934,000 after purchasing an additional 764,661 shares in the last quarter. Northern Trust Corp boosted its position in First Republic Bank by 42.1% during the first quarter. Northern Trust Corp now owns 1,720,178 shares of the bank’s stock worth $172,810,000 after purchasing an additional 509,672 shares in the last quarter. Commerce Bank boosted its position in First Republic Bank by 485.6% during the first quarter. Commerce Bank now owns 273,719 shares of the bank’s stock worth $27,498,000 after purchasing an additional 226,981 shares in the last quarter. Finally, WCM Investment Management LLC boosted its position in First Republic Bank by 15.4% during the second quarter. WCM Investment Management LLC now owns 1,608,709 shares of the bank’s stock worth $157,090,000 after purchasing an additional 215,003 shares in the last quarter.

First Republic Bank stock traded down $0.27 during trading on Thursday, reaching $93.72. 97,848 shares of the company were exchanged, compared to its average volume of 1,261,475. First Republic Bank has a 52-week low of $79.42 and a 52-week high of $107.75. The company has a market capitalization of $15.80 billion, a P/E ratio of 19.49, a PEG ratio of 2.62 and a beta of 0.88. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $92.89 and its two-hundred day simple moving average is $98.86.



First Republic Bank (NYSE:FRC) last announced its quarterly earnings data on Tuesday, July 16th. The bank reported $1.24 EPS for the quarter, missing the Zacks’ consensus estimate of $1.26 by ($0.02). The company had revenue of $819.38 million for the quarter, compared to analysts’ expectations of $836.26 million. First Republic Bank had a return on equity of 11.30% and a net margin of 22.94%. During the same quarter in the previous year, the business posted $1.20 EPS. As a group, equities analysts forecast that First Republic Bank will post 4.98 earnings per share for the current year.

A number of equities analysts have issued reports on the company. Maxim Group reiterated a “buy” rating and set a $110.00 price target on shares of First Republic Bank in a research report on Wednesday, July 17th. Credit Suisse Group decreased their target price on First Republic Bank from $105.00 to $98.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Wedbush restated an “outperform” rating on shares of First Republic Bank in a research report on Tuesday, July 16th. Raymond James downgraded First Republic Bank to a “hold” rating in a research report on Monday, July 8th. Finally, Zacks Investment Research downgraded First Republic Bank from a “hold” rating to a “sell” rating and set a $104.00 target price on the stock. in a research report on Friday, July 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. First Republic Bank presently has a consensus rating of “Hold” and an average target price of $103.08.

First Republic Bank 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 in 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, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

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

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