First Republic Bank (FRC) : Northeast Investment Management scooped up 6,476 additional shares in First Republic Bank during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 102,732 shares of First Republic Bank which is valued at $7,338,147.First Republic Bank makes up approximately 0.72% of Northeast Investment Management’s portfolio.
Other Hedge Funds, Including , Douglas Lane Associates boosted its stake in FRC in the latest quarter, The investment management firm added 4,482 additional shares and now holds a total of 132,554 shares of First Republic Bank which is valued at $9,524,005. First Republic Bank makes up approx 0.26% of Douglas Lane Associates’s portfolio. Crestpoint Capital Management added FRC to its portfolio by purchasing 3,900 company shares during the most recent quarter which is valued at $277,290. First Republic Bank makes up approx 0.14% of Crestpoint Capital Management’s portfolio.Harding Loevner Lp reduced its stake in FRC by selling 22,227 shares or 0.6% in the most recent quarter. The Hedge Fund company now holds 3,683,709 shares of FRC which is valued at $261,911,710. First Republic Bank makes up approx 1.96% of Harding Loevner Lp’s portfolio.Fisher Asset Management reduced its stake in FRC by selling 19,046 shares or 4.5% in the most recent quarter. The Hedge Fund company now holds 404,497 shares of FRC which is valued at $28,897,266. First Republic Bank makes up approx 0.06% of Fisher Asset Management’s portfolio.
First Republic Bank closed down -0.19 points or -0.26% at $73.35 with 4,85,145 shares getting traded on Monday. Post opening the session at $73.65, the shares hit an intraday low of $73.14 and an intraday high of $73.98 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 .
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.