Boston Common Asset Management Lowers stake in First Republic Bank (FRC)

First Republic Bank (FRC) : Boston Common Asset Management reduced its stake in First Republic Bank by 0.06% during the most recent quarter end. The investment management company now holds a total of 99,684 shares of First Republic Bank which is valued at $7,047,659 after selling 60 shares in First Republic Bank , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.First Republic Bank makes up approximately 1.02% of Boston Common Asset Management’s portfolio.

Other Hedge Funds, Including , Private Trust Co Na reduced its stake in FRC by selling 201 shares or 2.0% in the most recent quarter. The Hedge Fund company now holds 9,859 shares of FRC which is valued at $697,031. First Republic Bank makes up approx 0.18% of Private Trust Co Na’s portfolio. Barometer Capital Management added FRC to its portfolio by purchasing 25,200 company shares during the most recent quarter which is valued at $1,791,720. First Republic Bank makes up approx 0.18% of Barometer Capital Management’s portfolio.Grassi Investment Management reduced its stake in FRC by selling 14,000 shares or 12.96% in the most recent quarter. The Hedge Fund company now holds 94,000 shares of FRC which is valued at $6,715,360. First Republic Bank makes up approx 1.24% of Grassi Investment Management’s portfolio.Cabot Wealth Management Inc boosted its stake in FRC in the latest quarter, The investment management firm added 27,840 additional shares and now holds a total of 144,303 shares of First Republic Bank which is valued at $10,309,006. First Republic Bank makes up approx 2.66% of Cabot Wealth Management Inc’s portfolio.Curian Capital reduced its stake in FRC by selling 6,834 shares or 58.12% in the most recent quarter. The Hedge Fund company now holds 4,924 shares of FRC which is valued at $341,135. First Republic Bank makes up approx 0.02% of Curian Capital’s portfolio.

First Republic Bank opened for trading at $70.79 and hit $70.95 on the upside on Wednesday, eventually ending the session at $70.7, with a gain of 0.14% or 0.1 points. The heightened volatility saw the trading volume jump to 5,31,082 shares. Company has a market cap of $10,080 M.

On the company’s financial health, First Republic Bank reported $0.97 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 14, 2016. Analyst had a consensus of $0.90. The company had revenue of $535.10 million for the quarter, compared to analysts expectations of $535.89 million. During the same quarter in the previous year, the company posted $0.73 EPS.

Investors should note that on Jul 14, 2016, First Republic Bank announced a cash dividend of $0.1600. The company’s management has announced Jul 26, 2016 as the ex-dividend date and fixed the record date on Jul 28, 2016. The payable date has been fixed on Aug 11, 2016.

Many Wall Street Analysts have commented on First Republic Bank. Company shares were Reiterated by FBR Capital on Jul 15, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 73 from a previous price target of $70 .

First Republic Bank and its subsidiaries provide private banking private business banking and private wealth management including investment trust and brokerage services. The Company has offices in San Francisco Palo Alto Los Angeles Santa Barbara Newport Beach San Diego Portland Boston Palm Beach Greenwich and New York City. The Company’s products and services include residential lending commercial real estate lending personal lending private business banking deposit services investment management services brokerage services and trust services. The Bank offers full-service banking on both coasts including free online banking free bill pay and free access to automated teller machines (ATMs) across the world.

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