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First Republic Bank (FRC) Short Interest Update

19 Juillet 2017

BlackRock Inc. boosted its stake in FIRST REPUBLIC BANK by 4,249.4% in the first quarter. Comerica Bank now owns 11,597 shares of the bank's stock worth $1,078,000 after buying an additional 484 shares in the last quarter. Teza Capital Management LLC purchased a new position in First Republic Bank during the first quarter worth approximately $549,000. GLG LLC increased its position in shares of First Republic Bank by 6.8% in the fourth quarter. Israel Discount Bank of NY acquired a new stake in shares of First Republic Bank during the first quarter worth $107,000. BlackRock Inc. now owns 9,831,999 shares of the bank's stock worth $922,340,000 after buying an additional 9,605,945 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of First Republic Bank by 5.5% in the first quarter. Brandywine Global Investment Management, LLC now controls 211,184 shares with a value of $7,263,000.

First Republic Bank (NYSE:FRC) opened at 100.76 on Tuesday. Based on an average daily trading volume, of 1,034,035 shares, the days-to-cover ratio is presently 3.9 days.

The company's P/E ratio is 25.06 and market capitalization is 15.79B. First Republic Bank has a 52-week low of $70.00 and a 52-week high of $104.17. The bank reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.09 by $0.03. First Republic Bank had a net margin of 27.37% and a return on equity of 12.16%. During the same quarter in the prior year, the firm earned $0.97 EPS. First Republic Bank's revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities analysts anticipate that First Republic Bank will post $4.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Thursday, July 27th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, July 25th. First Republic Bank's dividend payout ratio (DPR) is now 16.59%.

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More notable recent First Republic Bank (NYSE:FRC) news were published by: Nasdaq.com which released: "Analyst Actions: BMO Capital Trims First Republic Bank PT to $96 Following Q2 ..." on July 17, 2017, also Businesswire.com with their article: "First Republic Bank Releases Results of 2017 Dodd-Frank Act Company-Run ..." published on June 22, 2017, Businesswire.com published: "First Republic Bank Announces Second Quarter 2017 Earnings and Conference Call ..." on June 28, 2017. Keefe, Bruyette & Woods set a $90.00 target price on First Republic Bank and gave the company a "hold" rating in a report on Friday, May 26th.

Jefferies Group LLC reissued their buy rating on shares of First Republic Bank (NYSE:FRC) in a report issued on Friday. Zacks Investment Research raised shares of FIRST REPUBLIC BANK from a "sell" rating to a "hold" rating in a research note on Wednesday, June 21st. Morgan Stanley reissued an equal weight rating and set a $104.00 price target (up previously from $102.00) on shares of First Republic Bank in a research report on Thursday, July 6th. Finally, Wedbush restated an outperform rating and set a $121.00 price target on shares of First Republic Bank in a research report on Tuesday, June 27th.

On October 14 Barclays held the stock rating at "Overweight" but raised the price expectation from $75.00 to $81.00.

Republic Bancorp, Inc. (Republic), launched on January 2, 1974, is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc. The Bank has approximately five additional offices that offer lending, wealth management or trust services.