First Republic Bank (FRC) : Harding Loevner Lp reduced its stake in First Republic Bank by 0.6% during the most recent quarter end. The investment management company now holds a total of 3,683,709 shares of First Republic Bank which is valued at $261,911,710 after selling 22,227 shares in First Republic Bank , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.First Republic Bank makes up approximately 1.96% of Harding Loevner Lp’s portfolio.
Other Hedge Funds, Including , Gofen Glossberg Il reduced its stake in FRC by selling 130 shares or 2.24% in the most recent quarter. The Hedge Fund company now holds 5,670 shares of FRC which is valued at $405,065. First Republic Bank makes up approx 0.02% of Gofen Glossberg Il’s portfolio.Cabot Wealth Management Inc boosted its stake in FRC in the latest quarter, The investment management firm added 27,840 additional shares and now holds a total of 144,303 shares of First Republic Bank which is valued at $10,309,006. First Republic Bank makes up approx 2.66% of Cabot Wealth Management Inc’s portfolio.Integrated Investment Consultants boosted its stake in FRC in the latest quarter, The investment management firm added 31 additional shares and now holds a total of 1,131 shares of First Republic Bank which is valued at $76,422. First Republic Bank makes up approx 0.04% of Integrated Investment Consultants’s portfolio.
First Republic Bank closed down -0.7 points or -0.97% at $71.1 with 6,73,708 shares getting traded on Monday. Post opening the session at $72, the shares hit an intraday low of $71.01 and an intraday high of $72 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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 FBR Capital on Jul 15, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 73 from a previous price target of $70 .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 .
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.