Revenue Update on First Republic Bank(NYSE:FRC)

First Republic Bank(NYSE:FRC) announced the earnings results for Fiscal Year 2016 and Q1. The results came in during Pre-market on Apr 14, 2016. Company reported revenue of $519.57M. Analysts estimated a revenue of $542.31M. Earnings per share were $0.88. Analysts had estimated an EPS of $0.80.

In a different note, On Feb 22, 2016, HSBC said it Upgrades its rating on First Republic Bank. The shares have been rated ‘Buy’ by the firm. On Feb 22, 2016, Jefferies said it Upgrades its rating on First Republic Bank. The shares have been rated ‘Buy’ by the firm.

First Republic Bank (FRC) made into the market gainers list on Mondays trading session with the shares advancing 0.69% or 0.49 points. Due to strong positive momentum, the stock ended at $71.32, which is also near the day’s high of $71.56. The stock began the session at $70.09 and the volume stood at 9,23,112 shares. The 52-week high of the shares is $72.63 and the 52 week low is $56.3176. The company has a current market capitalization of $10,169 M and it has 14,25,78,690 shares in outstanding.

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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