Aristotle Capital Management Lowers stake in First Republic Bank (FRC)

First Republic Bank (FRC) : Aristotle Capital Management reduced its stake in First Republic Bank by 2.26% during the most recent quarter end. The investment management company now holds a total of 3,173,629 shares of First Republic Bank which is valued at $268,774,640 after selling 73,464 shares in First Republic Bank , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.First Republic Bank makes up approximately 2.73% of Aristotle Capital Management’s portfolio.

Other Hedge Funds, Including , Loomis Sayles Co L P reduced its stake in FRC by selling 1,132 shares or 1.26% in the most recent quarter. The Hedge Fund company now holds 88,679 shares of FRC which is valued at $7,510,225. First Republic Bank makes up approx 0.02% of Loomis Sayles Co L P’s portfolio.Westfield Capital Management Co Lp reduced its stake in FRC by selling 2,765 shares or 0.61% in the most recent quarter. The Hedge Fund company now holds 451,234 shares of FRC which is valued at $37,244,854. First Republic Bank makes up approx 0.30% of Westfield Capital Management Co Lp’s portfolio.Geneva Advisors boosted its stake in FRC in the latest quarter, The investment management firm added 1,319 additional shares and now holds a total of 434,088 shares of First Republic Bank which is valued at $33,876,228. First Republic Bank makes up approx 0.65% of Geneva Advisors’s portfolio. Thompson Davis sold out all of its stake in FRC during the most recent quarter. The investment firm sold 180 shares of FRC which is valued $13,457.

First Republic Bank closed down -0.33 points or -0.40% at $82.89 with 8,49,595 shares getting traded on Monday. Post opening the session at $83.4, the shares hit an intraday low of $82.19 and an intraday high of $83.4 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 $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. First Republic Bank was Downgraded by Morgan Stanley to ” Equal-Weight” on Nov 16, 2016. 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 .

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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