The Manufacturers Life Insurance Company Sells 14,321 Shares of First Republic Bank (NYSE:FRC)

The Manufacturers Life Insurance Company reduced its position in shares of First Republic Bank (NYSE:FRC) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 249,530 shares of the bank’s stock after selling 14,321 shares during the period. The Manufacturers Life Insurance Company owned about 0.14% of First Republic Bank worth $27,213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FRC. Canada Pension Plan Investment Board grew its holdings in shares of First Republic Bank by 53.7% during the second quarter. Canada Pension Plan Investment Board now owns 3,020,363 shares of the bank’s stock worth $320,128,000 after purchasing an additional 1,054,879 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt grew its holdings in shares of First Republic Bank by 47.0% during the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,641,312 shares of the bank’s stock worth $173,848,000 after purchasing an additional 525,000 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of First Republic Bank by 94.7% during the second quarter. Nordea Investment Management AB now owns 1,020,170 shares of the bank’s stock worth $107,496,000 after purchasing an additional 496,315 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of First Republic Bank by 12.9% during the second quarter. Ensign Peak Advisors Inc now owns 2,686,844 shares of the bank’s stock worth $284,778,000 after purchasing an additional 307,383 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in First Republic Bank by 2.7% in the third quarter. BlackRock Inc. now owns 11,444,912 shares of the bank’s stock valued at $1,248,183,000 after acquiring an additional 306,022 shares during the last quarter. Institutional investors own 95.70% of the company’s stock.

Several analysts recently commented on the company. Barclays upped their target price on First Republic Bank from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Wednesday, October 14th. Morgan Stanley upped their target price on First Republic Bank from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, November 3rd. Royal Bank of Canada upped their target price on First Republic Bank from $116.00 to $130.00 in a report on Wednesday, October 14th. Wolfe Research assumed coverage on First Republic Bank in a report on Friday, July 31st. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Company upped their target price on First Republic Bank from $85.00 to $100.00 and gave the company an “underweight” rating in a report on Wednesday, October 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $124.71.

Shares of NYSE:FRC opened at $129.90 on Friday. The firm has a market capitalization of $22.37 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.36 and a beta of 1.13. The stock’s 50 day moving average is $126.77 and its 200-day moving average is $113.32. First Republic Bank has a twelve month low of $70.06 and a twelve month high of $142.14. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.58.

First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Sunday, October 18th. The bank reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.23. First Republic Bank had a return on equity of 10.96% and a net margin of 22.95%. During the same period last year, the company posted $1.31 earnings per share. Equities research analysts anticipate that First Republic Bank will post 5.68 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 12th. Investors of record on Thursday, October 29th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Wednesday, October 28th. First Republic Bank’s payout ratio is currently 15.38%.

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 in the United States. It operates through two segments, Commercial Banking and Wealth Management. The company accepts deposit products, such as checking, money market checking, savings, passbook deposits, and individual retirement accounts, as well as certificates of deposit.

See Also: Stock Symbols Definition, Examples, Lookup

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

Receive News & Ratings for First Republic Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Republic Bank and related companies with MarketBeat.com's FREE daily email newsletter.