First Republic Bank (FRC) reported quarterly earnings results on Thursday, Apr-14-2016. The company said it had a profit of $0.88 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $0.81. The company posted revenue of $554.90 million in the period, 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. First Republic Bank was Upgraded by Jefferies to ” Buy” on Feb 22, 2016.
First Republic Bank opened for trading at $64.94 and hit $65.71 on the upside on Monday, eventually ending the session at $64.9, with a gain of 0.68% or 0.44 points. The heightened volatility saw the trading volume jump to 5,21,418 shares. Company has a market cap of $9,253 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.