First Republic Bank (FRC) : Vigilant Capital Management reduced its stake in First Republic Bank by 0.05% during the most recent quarter end. The investment management company now holds a total of 119,123 shares of First Republic Bank which is valued at $8,421,996 after selling 65 shares in First Republic Bank , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.First Republic Bank makes up approximately 1.57% of Vigilant Capital Management’s portfolio.
Other Hedge Funds, Including , Sumitomo Life Insurance Co reduced its stake in FRC by selling 570 shares or 1.39% in the most recent quarter. The Hedge Fund company now holds 40,314 shares of FRC which is valued at $2,866,325. First Republic Bank makes up approx 0.38% of Sumitomo Life Insurance Co’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.Loring Wolcott Coolidge Fiduciary Advisors Llpma boosted its stake in FRC in the latest quarter, The investment management firm added 533 additional shares and now holds a total of 97,353 shares of First Republic Bank which is valued at $6,954,898. First Republic Bank makes up approx 0.16% of Loring Wolcott Coolidge Fiduciary Advisors Llpma’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.
Investors should note that on Jul 14, 2016, First Republic Bank announced a cash dividend of $0.1600. The company’s management has announced Jul 26, 2016 as the ex-dividend date and fixed the record date on Jul 28, 2016. The payable date has been fixed on Aug 11, 2016.
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.