The FIRST REPUBLIC BANK (FRC) is Hahn Capital Management LLC’s 8th Largest Position, Report finds

The FIRST REPUBLIC BANK (FRC) is Hahn Capital Management LLC’s 8th Largest Position, Report finds

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital World Investors increased its position in FIRST REPUBLIC BANK by 20.1% in the third quarter. Capital World Investors now owns 7,797,025 shares of the company’s stock worth $601,229,000 after buying an additional 1,305,000 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in FIRST REPUBLIC BANK by 2.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,705,372 shares of the company’s stock worth $285,721,000 after buying an additional 96,883 shares during the period. Aristotle Capital Management LLC increased its position in FIRST REPUBLIC BANK by 1.3% in the second quarter. Aristotle Capital Management LLC now owns 3,247,093 shares of the company’s stock worth $227,264,000 after buying an additional 42,483 shares during the period. Royal Bank of Canada increased its position in FIRST REPUBLIC BANK by 66.9% in the second quarter. Royal Bank of Canada now owns 2,320,272 shares of the company’s stock worth $162,397,000 after buying an additional 929,702 shares during the period. Finally, CAM Group Holding A S increased its position in FIRST REPUBLIC BANK by 5.0% in the third quarter. CAM Group Holding A S now owns 2,107,897 shares of the company’s stock worth $162,540,000 after buying an additional 99,869 shares during the period. 97.08% of the stock is currently owned by institutional investors.

Hahn Capital Management LLC cut its stake in FIRST REPUBLIC BANK (NYSE:FRC) by 5.3% during the third quarter, Holdings Channel reports. The institutional investor owned 527,442 shares of the company’s stock after selling 29,387 shares during the period. FIRST REPUBLIC BANK comprises 3.9% of Hahn Capital Management LLC’s investment portfolio, making the stock its 8th largest position. Hahn Capital Management LLC’s holdings in FIRST REPUBLIC BANK were worth $39,258,000 as of its most recent SEC filing.

Shares of FIRST REPUBLIC BANK (NYSE:FRC) opened at 94.84 on Monday. FIRST REPUBLIC BANK has a 52 week low of $57.89 and a 52 week high of $95.95. The firm has a market capitalization of $14.63 billion, a PE ratio of 24.13 and a beta of 1.03. The firm’s 50-day moving average is $93.14 and its 200 day moving average is $81.60.

FIRST REPUBLIC BANK (NYSE:FRC) last issued its quarterly earnings results on Friday, January 13th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. FIRST REPUBLIC BANK had a net margin of 27.98% and a return on equity of 12.38%. The business had revenue of $599.50 million for the quarter, compared to analysts’ expectations of $623.91 million. During the same quarter in the prior year, the company earned $0.84 earnings per share. The business’s quarterly revenue was up 21.1% on a year-over-year basis. On average, equities analysts forecast that FIRST REPUBLIC BANK will post $4.51 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, February 9th. Investors of record on Thursday, January 26th were paid a dividend of $0.16 per share. The ex-dividend date was Tuesday, January 24th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.67%. FIRST REPUBLIC BANK’s payout ratio is 16.49%.

A number of research analysts have commented on the stock. JMP Securities assumed coverage on shares of FIRST REPUBLIC BANK in a research report on Thursday, February 2nd. They set an “outperform” rating and a $111.00 target price on the stock. FBR & Co raised their target price on shares of FIRST REPUBLIC BANK from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, January 17th. Zacks Investment Research downgraded shares of FIRST REPUBLIC BANK from a “buy” rating to a “hold” rating in a research report on Monday, January 16th. Maxim Group raised their target price on shares of FIRST REPUBLIC BANK from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, January 17th. Finally, Wells Fargo & Company downgraded shares of FIRST REPUBLIC BANK from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $89.82.

About FIRST REPUBLIC BANK

First Republic Bank is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States.

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