Revenue Update on First Republic Bank(NYSE:FRC)

First Republic Bank(NYSE:FRC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 14, 2016. Company reported revenue of $535.08M. Analysts estimated a revenue of $568.60M. Earnings per share were $0.89. Analysts had estimated an EPS of $0.89.

First Republic Bank (FRC) shares turned negative on Mondays trading session with the shares closing down -0.7 points or -0.97% at a volume of 6,73,708. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $72. The peak price level was also seen at $72 while the days lowest was $71.01. Finally the shares closed at $71.1. The 52-week high of the shares is $73.22 while the 52-week low is $56.3176. According to the latest information available, the market cap of the company is $10,137 M.

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.

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