FIRST REPUBLIC BANK (FRC) : Traders are bullish on FIRST REPUBLIC BANK (FRC) as it has outperformed the S&P 500 by a wide margin of 3.14% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.36%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.33% in the last 1 week, and is up 3.54% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
First Republic Bank is up 4.8% in the last 3-month period. Year-to-Date the stock performance stands at 12.38%. The stock has recorded a 20-day Moving Average of 2.06% and the 50-Day Moving Average is 4.72%.
FIRST REPUBLIC BANK (NYSE:FRC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $73.76 and $73.27 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $73.78. The buying momentum continued till the end and the stock did not give up its gains. It closed at $73.73, notching a gain of 0.19% for the day. The total traded volume was 375,966 . The stock had closed at $73.59 on the previous day.
Also, Equity Analysts at the Brokerage Firm, Barclays, maintains their rating on the shares of FIRST REPUBLIC BANK (NYSE:FRC). Barclays has a Overweight rating on the shares. As per the latest research report, the brokerage house raises the price target to $84 per share from a prior target of $78. The rating by the firm was issued on August 11, 2016.
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 Companys 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.