First Republic Bank (FRC) : Majedie Asset Management Ltd scooped up 1,631 additional shares in First Republic Bank during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 299,577 shares of First Republic Bank which is valued at $21,584,523.First Republic Bank makes up approximately 3.39% of Majedie Asset Management Ltd’s portfolio.
Other Hedge Funds, Including , Riverhead Capital Management boosted its stake in FRC in the latest quarter, The investment management firm added 75,721 additional shares and now holds a total of 76,736 shares of First Republic Bank which is valued at $5,528,829. First Republic Bank makes up approx 0.09% of Riverhead Capital Management’s portfolio.Zevenbergen Capital Investments reduced its stake in FRC by selling 29,365 shares or 3.86% in the most recent quarter. The Hedge Fund company now holds 732,200 shares of FRC which is valued at $52,755,010. First Republic Bank makes up approx 2.22% of Zevenbergen Capital Investments’s portfolio.Baillie Gifford Co reduced its stake in FRC by selling 345,631 shares or 2.77% in the most recent quarter. The Hedge Fund company now holds 12,142,835 shares of FRC which is valued at $880,112,681. First Republic Bank makes up approx 1.45% of Baillie Gifford Co’s portfolio.Mufg Americas Holdings Corp reduced its stake in FRC by selling 6,001 shares or 12.88% in the most recent quarter. The Hedge Fund company now holds 40,589 shares of FRC which is valued at $2,941,891. First Republic Bank makes up approx 0.10% of Mufg Americas Holdings Corp’s portfolio.
First Republic Bank opened for trading at $76.54 and hit $77.31 on the upside on Monday, eventually ending the session at $75.67, with a gain of 0.97% or 0.73 points. The heightened volatility saw the trading volume jump to 5,64,671 shares. Company has a market cap of $10,789 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 Barclays on Aug 11, 2016 to “Overweight”, Firm has raised the Price Target to $ 84 from a previous price target of $78 .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.