Baldwin Brothers Incma Lowers stake in First Republic Bank (FRC)

First Republic Bank (FRC) : Baldwin Brothers Incma reduced its stake in First Republic Bank by 1.78% during the most recent quarter end. The investment management company now holds a total of 203,080 shares of First Republic Bank which is valued at $13.7 Million after selling 3,674 shares in First Republic Bank , the firm said in a disclosure report filed with the SEC on May 12, 2016.First Republic Bank makes up approximately 2.46% of Baldwin Brothers Incma’s portfolio.

Other Hedge Funds, Including , Standard Life Investments Ltd reduced its stake in FRC by selling 746,807 shares or 9.71% in the most recent quarter. The Hedge Fund company now holds 6,940,474 shares of FRC which is valued at $469 Million. First Republic Bank makes up approx 2.13% of Standard Life Investments Ltd’s portfolio.Pillar Pacific Capital Management boosted its stake in FRC in the latest quarter, The investment management firm added 9,115 additional shares and now holds a total of 54,170 shares of First Republic Bank which is valued at $3.7 Million. First Republic Bank makes up approx 0.64% of Pillar Pacific Capital Management’s portfolio.Thompson Davis reduced its stake in FRC by selling 268 shares or 48.46% in the most recent quarter. The Hedge Fund company now holds 285 shares of FRC which is valued at $19,454. First Republic Bank makes up approx 0.03% of Thompson Davis’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in FRC in the latest quarter, The investment management firm added 661,492 additional shares and now holds a total of 839,704 shares of First Republic Bank which is valued at $59 Million. First Republic Bank makes up approx 0.48% of Public Employees Retirement Association Of Colorado’s portfolio. Commerce Bank added FRC to its portfolio by purchasing 135,127 company shares during the most recent quarter which is valued at $9.5 Million. First Republic Bank makes up approx 0.16% of Commerce Bank’s portfolio.

First Republic Bank opened for trading at $69.97 and hit $70.6 on the upside on Friday, eventually ending the session at $70.51, with a gain of 0.89% or 0.62 points. The heightened volatility saw the trading volume jump to 6,27,824 shares. Company has a market cap of $10,053 M.

On the company’s financial health, First Republic Bank reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Apr 14, 2016. Analyst had a consensus of $0.81. The company had revenue of $554.90 million for the quarter, compared to analysts expectations of $541.78 million. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.

Many Wall Street Analysts have commented on First Republic Bank. Company shares were Reiterated by FBR Capital on Apr 19, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 70 from a previous price target of $65 .Company shares were Reiterated by Maxim Group on Apr 15, 2016 to “Buy”, Firm has raised the Price Target to $ 83 from a previous price target of $75 .First Republic Bank was Upgraded by Jefferies to ” Buy” on Feb 22, 2016.

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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