Westwood Holdings Group Inc. Acquires 69,071 Shares of First Republic Bank (FRC)

Westwood Holdings Group Inc. increased its stake in First Republic Bank (NYSE:FRC) by 68.5% during the first quarter, Holdings Channel reports. The firm owned 169,841 shares of the bank’s stock after buying an additional 69,071 shares during the period. Westwood Holdings Group Inc.’s holdings in First Republic Bank were worth $15,933,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Teza Capital Management LLC bought a new position in First Republic Bank during the first quarter valued at approximately $549,000. Boston Family Office LLC increased its position in First Republic Bank by 0.5% in the first quarter. Boston Family Office LLC now owns 123,922 shares of the bank’s stock valued at $11,625,000 after buying an additional 652 shares during the period. Comerica Bank increased its position in First Republic Bank by 4.4% in the fourth quarter. Comerica Bank now owns 11,597 shares of the bank’s stock valued at $1,078,000 after buying an additional 484 shares during the period. Israel Discount Bank of New York GFN bought a new position in First Republic Bank during the fourth quarter valued at approximately $106,000. Finally, Private Wealth Partners LLC increased its position in First Republic Bank by 11.3% in the first quarter. Private Wealth Partners LLC now owns 70,367 shares of the bank’s stock valued at $6,601,000 after buying an additional 7,167 shares during the period. 98.62% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of First Republic Bank (NYSE:FRC) traded down 0.84% during midday trading on Friday, reaching $99.03. 358,788 shares of the company traded hands. First Republic Bank has a 1-year low of $63.97 and a 1-year high of $101.99. The firm has a market capitalization of $15.57 billion, a PE ratio of 24.70 and a beta of 1.02. The stock has a 50 day moving average price of $94.76 and a 200 day moving average price of $93.36.

First Republic Bank (NYSE:FRC) last issued its quarterly earnings data on Thursday, April 13th. The bank reported $1.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.01. The firm had revenue of $601.14 million during the quarter, compared to the consensus estimate of $626.14 million. First Republic Bank had a return on equity of 10.88% and a net margin of 29.41%. During the same period last year, the company earned $0.88 EPS. Analysts expect that First Republic Bank will post $4.51 earnings per share for the current fiscal year.

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Several equities analysts have recently commented on FRC shares. Zacks Investment Research raised shares of First Republic Bank from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Wednesday, March 1st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $98.00 target price (up previously from $95.00) on shares of First Republic Bank in a report on Friday, March 10th. BMO Capital Markets reissued a “hold” rating and issued a $98.00 target price on shares of First Republic Bank in a report on Wednesday, March 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $109.00 target price on shares of First Republic Bank in a report on Sunday, June 11th. Finally, Barclays PLC lowered their target price on shares of First Republic Bank from $102.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 11th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $99.62.

First Republic Bank Company Profile

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.

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).

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