Cabot Wealth Management Inc buys $7,870,570 stake in First Republic Bank (FRC)

First Republic Bank (FRC) : Cabot Wealth Management Inc scooped up 55,490 additional shares in First Republic Bank during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 116,463 shares of First Republic Bank which is valued at $7,870,570.First Republic Bank makes up approximately 2.19% of Cabot Wealth Management Inc’s portfolio.

Other Hedge Funds, Including , Rmb Capital Management reduced its stake in FRC by selling 118,543 shares or 38.88% in the most recent quarter. The Hedge Fund company now holds 186,330 shares of FRC which is valued at $12,592,181. First Republic Bank makes up approx 0.93% of Rmb Capital Management’s portfolio. Rothschild Capital Partners added FRC to its portfolio by purchasing 88,395 company shares during the most recent quarter which is valued at $6,033,843. First Republic Bank makes up approx 2.93% of Rothschild Capital Partners’s portfolio.State Of Wisconsin Investment Board reduced its stake in FRC by selling 4,190 shares or 3.98% in the most recent quarter. The Hedge Fund company now holds 101,110 shares of FRC which is valued at $6,901,769. First Republic Bank makes up approx 0.03% of State Of Wisconsin Investment Board’s portfolio. Commerce Bank added FRC to its portfolio by purchasing 135,127 company shares during the most recent quarter which is valued at $9,502,131. First Republic Bank makes up approx 0.16% of Commerce Bank’s portfolio.

First Republic Bank closed down -0.37 points or -0.54% at $67.58 with 9,30,282 shares getting traded on Friday. Post opening the session at $68.08, the shares hit an intraday low of $67.3 and an intraday high of $68.68 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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