First Republic Bank (FRC) : Howland Capital Management scooped up 19,225 additional shares in First Republic Bank during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 126,502 shares of First Republic Bank which is valued at $9,359,883.First Republic Bank makes up approximately 0.89% of Howland Capital Management’s portfolio.
Other Hedge Funds, Including , Private Trust Co Na boosted its stake in FRC in the latest quarter, The investment management firm added 3,400 additional shares and now holds a total of 13,259 shares of First Republic Bank which is valued at $981,033. First Republic Bank makes up approx 0.24% of Private Trust Co Na’s portfolio.Oregon Public Employees Retirement Fund boosted its stake in FRC in the latest quarter, The investment management firm added 7,230 additional shares and now holds a total of 17,630 shares of First Republic Bank which is valued at $1,386,952. First Republic Bank makes up approx 0.03% of Oregon Public Employees Retirement Fund’s portfolio.Harding Loevner Lp reduced its stake in FRC by selling 1,889 shares or 0.05% in the most recent quarter. The Hedge Fund company now holds 3,681,820 shares of FRC which is valued at $289,648,779. First Republic Bank makes up approx 2.06% of Harding Loevner Lp’s portfolio. Washington Trust Bank added FRC to its portfolio by purchasing 789 company shares during the most recent quarter which is valued at $61,692. First Republic Bank makes up approx 0.01% of Washington Trust Bank’s portfolio.
First Republic Bank closed down -1.14 points or -1.45% at $77.53 with 6,32,679 shares getting traded on Tuesday. Post opening the session at $78.68, the shares hit an intraday low of $77.27 and an intraday high of $79.02 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, First Republic Bank reported $1.00 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 13, 2016. Analyst had a consensus of $0.99. The company had revenue of $557.90 million for the quarter, compared to analysts expectations of $593.52 million. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.
Many Wall Street Analysts have commented on First Republic Bank. Company shares were Reiterated by FBR & Co. on Oct 14, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 80 from a previous price target of $73 .Company shares were Reiterated by Maxim Group on Oct 14, 2016 to “Buy”, Firm has raised the Price Target to $ 86 from a previous price target of $83 .Company shares were Reiterated by Barclays on Aug 11, 2016 to “Overweight”, Firm has raised the Price Target to $ 84 from a previous price target of $78 .
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.