First Republic Bank (FRC) : Pillar Pacific Capital Management scooped up 1,910 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 1, 2016. The investment management firm now holds a total of 56,080 shares of First Republic Bank which is valued at $4,005,794.First Republic Bank makes up approximately 0.64% of Pillar Pacific Capital Management’s portfolio.
Other Hedge Funds, Including , Newsquare Capital reduced its stake in FRC by selling 16 shares or 12.31% in the most recent quarter. The Hedge Fund company now holds 114 shares of FRC which is valued at $8,191.Cottage Street Advisors reduced its stake in FRC by selling 500 shares or 2.66% in the most recent quarter. The Hedge Fund company now holds 18,275 shares of FRC which is valued at $1,313,059. First Republic Bank makes up approx 1.03% of Cottage Street Advisors’s portfolio.Tiaa Cref Trust Co Fsbmo boosted its stake in FRC in the latest quarter, The investment management firm added 2,435 additional shares and now holds a total of 32,249 shares of First Republic Bank which is valued at $2,296,451. First Republic Bank makes up approx 0.02% of Tiaa Cref Trust Co Fsbmo’s portfolio.Vigilant Capital Management reduced its stake in FRC by selling 65 shares or 0.05% in the most recent quarter. The Hedge Fund company now holds 119,123 shares of FRC which is valued at $8,421,996. First Republic Bank makes up approx 1.57% of Vigilant Capital Management’s portfolio.
First Republic Bank closed down -0.04 points or -0.06% at $71.39 with 5,17,691 shares getting traded on Thursday. Post opening the session at $71.27, the shares hit an intraday low of $71.13 and an intraday high of $71.82 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.