First Republic Bank (FRC) : Cobiz Investment Management reduced its stake in First Republic Bank by 21.4% during the most recent quarter end. The investment management company now holds a total of 79,551 shares of First Republic Bank which is valued at $5,682,328 after selling 21,660 shares in First Republic Bank , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.First Republic Bank makes up approximately 1.39% of Cobiz Investment Management’s portfolio.
Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in FRC by selling 482 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 310,330 shares of FRC which is valued at $22,166,872. First Republic Bank makes up approx 0.05% of California State Teachers Retirement System’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in FRC in the latest quarter, The investment management firm added 193,456 additional shares and now holds a total of 1,033,160 shares of First Republic Bank which is valued at $74,046,577. First Republic Bank makes up approx 0.59% of Public Employees Retirement Association Of Colorado’s portfolio.Trillium Asset Management reduced its stake in FRC by selling 54,237 shares or 29.54% in the most recent quarter. The Hedge Fund company now holds 129,365 shares of FRC which is valued at $9,271,590. First Republic Bank makes up approx 0.58% of Trillium Asset Management’s portfolio.Marathon Asset Management Llp boosted its stake in FRC in the latest quarter, The investment management firm added 3,687 additional shares and now holds a total of 202,798 shares of First Republic Bank which is valued at $14,418,938. First Republic Bank makes up approx 0.30% of Marathon Asset Management Llp’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in FRC by selling 68,954 shares or 71.75% in the most recent quarter. The Hedge Fund company now holds 27,155 shares of FRC which is valued at $1,881,298. First Republic Bank makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.
First Republic Bank closed down -0.04 points or -0.06% at $71.39 with 5,17,691 shares getting traded on Thursday. Post opening the session at $71.27, the shares hit an intraday low of $71.13 and an intraday high of $71.82 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
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.
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.