Sarasin Partners Llp adds First Republic Bank (FRC) to its portfolio

First Republic Bank (FRC) : Sarasin Partners Llp added new position in First Republic Bank during the most recent quarter end. The investment management firm now holds 547,028 shares of First Republic Bank which is valued at $40,108,093 , the company said in a statement filed on Oct 14, 2016 with the SEC.First Republic Bank makes up approximately 0.64% of Sarasin Partners Llp’s portfolio.

Other Hedge Funds, Including , Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in FRC in the latest quarter, The investment management firm added 219 additional shares and now holds a total of 43,644 shares of First Republic Bank which is valued at $3,199,978. First Republic Bank makes up approx 0.07% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio.Daiwa Sb Investments Ltd. boosted its stake in FRC in the latest quarter, The investment management firm added 19,000 additional shares and now holds a total of 83,000 shares of First Republic Bank which is valued at $6,434,990. First Republic Bank makes up approx 1.69% of Daiwa Sb Investments Ltd.’s portfolio.Creative Planning boosted its stake in FRC in the latest quarter, The investment management firm added 287 additional shares and now holds a total of 1,052 shares of First Republic Bank which is valued at $81,562.Raymond James Trust N.a. boosted its stake in FRC in the latest quarter, The investment management firm added 18 additional shares and now holds a total of 2,984 shares of First Republic Bank which is valued at $234,751. First Republic Bank makes up approx 0.02% of Raymond James Trust N.a.’s portfolio.Cobiz Investment Management reduced its stake in FRC by selling 899 shares or 1.13% in the most recent quarter. The Hedge Fund company now holds 78,652 shares of FRC which is valued at $6,187,553. First Republic Bank makes up approx 1.49% of Cobiz Investment Management’s portfolio.

First Republic Bank closed down -0.67 points or -0.91% at $73.32 with 10,15,041 shares getting traded on Friday. Post opening the session at $74.47, the shares hit an intraday low of $73.28 and an intraday high of $75.36 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 $1.00 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 13, 2016. Analyst had a consensus of $0.99. The company had revenue of $557.90 million for the quarter, compared to analysts expectations of $593.52 million. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.

Many Wall Street Analysts have commented on First Republic Bank. Company shares were Reiterated by FBR & Co. on Oct 14, 2016 to “Mkt Perform”, Firm has raised the Price Target to $ 80 from a previous price target of $73 .Company shares were Reiterated by Maxim Group on Oct 14, 2016 to “Buy”, Firm has raised the Price Target to $ 86 from a previous price target of $83 .Company shares were Reiterated by Barclays on Aug 11, 2016 to “Overweight”, Firm has raised the Price Target to $ 84 from a previous price target of $78 .

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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