First Republic Bank (FRC) : First American Bank reduced its stake in First Republic Bank by 14.98% during the most recent quarter end. The investment management company now holds a total of 123,821 shares of First Republic Bank which is valued at $8,817,293 after selling 21,821 shares in First Republic Bank , the firm said in a disclosure report filed with the SEC on Jul 20, 2016.First Republic Bank makes up approximately 0.87% of First American Bank’s portfolio.
Other Hedge Funds, Including , Loeb Partners Corp reduced its stake in FRC by selling 3,000 shares or 42.86% in the most recent quarter. The Hedge Fund company now holds 4,000 shares of FRC which is valued at $284,840. First Republic Bank makes up approx 0.09% of Loeb Partners Corp’s portfolio.Gofen Glossberg Il reduced its stake in FRC by selling 130 shares or 2.24% in the most recent quarter. The Hedge Fund company now holds 5,670 shares of FRC which is valued at $405,065. First Republic Bank makes up approx 0.02% of Gofen Glossberg Il’s portfolio.Cutler Group Lp boosted its stake in FRC in the latest quarter, The investment management firm added 22,473 additional shares and now holds a total of 23,933 shares of First Republic Bank which is valued at $1,709,774. First Republic Bank makes up approx 0.12% of Cutler Group Lp’s portfolio.Capital Insight Partners reduced its stake in FRC by selling 10 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 25,249 shares of FRC which is valued at $1,749,251. First Republic Bank makes up approx 1.65% of Capital Insight Partners’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.
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.