Jane Street Group LLC Invests $2.79 Million in First Republic Bank (FRC)

Jane Street Group LLC purchased a new stake in shares of First Republic Bank (NYSE:FRC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 28,851 shares of the bank’s stock, valued at approximately $2,792,000.

Several other institutional investors also recently bought and sold shares of FRC. Visionary Asset Management Inc. purchased a new position in shares of First Republic Bank during the 2nd quarter valued at $225,000. Gofen & Glossberg LLC IL bought a new stake in First Republic Bank in the second quarter worth $265,000. Brookmont Capital Management boosted its holdings in First Republic Bank by 31.7% in the second quarter. Brookmont Capital Management now owns 2,937 shares of the bank’s stock worth $284,000 after purchasing an additional 707 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in First Republic Bank by 30.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,985 shares of the bank’s stock worth $289,000 after purchasing an additional 699 shares in the last quarter. Finally, D.A. Davidson & CO. bought a new stake in First Republic Bank in the second quarter worth $297,000.

FRC stock opened at $100.08 on Wednesday. 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 52-week low of $84.56 and a 52-week high of $106.75. The stock has a market cap of $15.77 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.71 and a beta of 0.84.

First Republic Bank (NYSE:FRC) last released its quarterly earnings results on Friday, July 13th. The bank reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.05. First Republic Bank had a net margin of 24.80% and a return on equity of 11.73%. The company had revenue of $744.11 million during the quarter, compared to analysts’ expectations of $734.03 million. equities analysts anticipate that First Republic Bank will post 4.78 EPS for the current fiscal year.

A number of equities research analysts recently issued reports on FRC shares. Royal Bank of Canada upped their price objective on shares of First Republic Bank to $102.00 and gave the stock a “sector perform” rating in a report on Thursday, September 13th. They noted that the move was a valuation call. Citigroup started coverage on shares of First Republic Bank in a report on Monday, June 18th. They issued a “buy” rating and a $120.00 price objective for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $96.00 price objective on shares of First Republic Bank in a report on Monday, July 16th. BMO Capital Markets upped their price objective on shares of First Republic Bank from $96.00 to $102.00 and gave the stock a “market perform” rating in a report on Friday, July 13th. Finally, Wells Fargo & Co upped their price objective on shares of First Republic Bank from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Tuesday, June 26th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. First Republic Bank has a consensus 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.

Read More: Earnings Per Share (EPS)

Want to see what other hedge funds are holding FRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Republic Bank (NYSE:FRC).

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.

Leave a Reply