First Republic Bank (FRC) : Reilly Financial Advisors added new position in First Republic Bank during the most recent quarter end. The investment management firm now holds 121,180 shares of First Republic Bank which is valued at $8,655,887 , the company said in a statement filed on Aug 3, 2016 with the SEC.First Republic Bank makes up approximately 1.55% of Reilly Financial Advisors’s portfolio.
Other Hedge Funds, Including , Jennison Associates reduced its stake in FRC by selling 341,907 shares or 14.76% in the most recent quarter. The Hedge Fund company now holds 1,973,914 shares of FRC which is valued at $140,996,677. First Republic Bank makes up approx 0.15% of Jennison Associates’s portfolio.Tokio Marine Asset Management Co Ltd reduced its stake in FRC by selling 4,102 shares or 4.4% in the most recent quarter. The Hedge Fund company now holds 89,212 shares of FRC which is valued at $6,409,882. First Republic Bank makes up approx 0.64% of Tokio Marine Asset Management Co Ltd’s portfolio. Pacific Heights Asset Management added FRC to its portfolio by purchasing 162,000 company shares during the most recent quarter which is valued at $11,639,700. First Republic Bank makes up approx 1.02% of Pacific Heights Asset Management’s portfolio.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.
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.