Shares last traded at $101.35 a tad higher than $96.01, the 50 day moving average and slightly over the 200 day moving average of $93.89. The 50 day moving average was up by +5.56% and the 200 day average moved up $7.46. FIRST REPUBLIC BANK shares had a trading volume of 1,030K by the end of trading on Friday. Volume was up 30.64% over the stocks average daily volume.
Here are some other firms who have updated their holdings. Fisher Asset Management, LLC reduced its ownership by selling 11,996 shares a decrease of 3.5% in the quarter. Fisher Asset Management, LLC currently owns 335,699 shares worth $33,603,000. The value of the position overall is up by 3.0%. As of quarter end Baldwin Brothers Inc/ma had acquired a total of 3,355 shares growing its stake by 1.9%. The value of the investment in FIRST REPUBLIC BANK went from $16,236,000 to $17,660,000 increasing 8.8% quarter to quarter.
Somerset Trust Co augmented its holdings by buying 40 shares an increase of 0.4%. Somerset Trust Co controls 9,186 shares valued at $919,000. The total value of its holdings increased 7.1%. As of the end of the quarter Clinton Group Inc had bought 16,727 shares growing its position 90.5%. The value of the investment in FRC increased from $1,703,000 to $3,302,000 a change of 93.9% for the reporting period.
Equity analyst Wedbush released its first research report on the stock with a rating of “Outperform”. On December 5 Barclays kept the company rating at “Overweight” but moved up the price target to $97.00 from $81.00.
On November 16 the company was changed to a “Equal-Weight” according to a Morgan Stanley report which is down from the previous “Overweight” rating. October 14 investment analysts at Barclays maintained a stock rating of “Overweight” but raised the price expectation from $75.00 to $81.00.
On October 14 Keefe Bruyette & Woods left the stock rating at “Overweight” and moved down the price target from $83.00 to $81.00. October 11 investment analysts at Deutsche Bank held the company rating at “Hold” and raised the price expectation from $66.00 to $85.00.
The company is so far trading down by -0.80% since yesterday’s close of $102.17. FIRST REPUBLIC BANK recently announced a dividend for shareholders which was paid on Thursday May 11th, 2017. The dividend payment was $0.170 per share for the quarter which comes to $0.68 on an annualized basis. The dividend yield was $0.67. The ex-dividend date was set for Tuesday the 25th of April 2017.
The company currently has a P/E ratio of 25.28 and the market cap of the company is 15.94B. As of the last earnings report the EPS was $4.01 and is expected to be $4.50 for the current year with 157,240,000 shares currently outstanding. Next quarter’s EPS is forecasted to be $1.17 and the next full year EPS is projected to be $5.39.
First Republic Bank, launched on October 15, 2009, is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States. The Bank operates through two segments: Commercial Banking and Wealth Management. The Bank offers services through approximately 70 offices located primarily in the areas, such as San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland (Oregon), Boston, Palm Beach (Florida), Greenwich and New York City. The Bank has approximately five additional offices that offer lending, wealth management or trust services. It originates real estate-secured loans and other loans for retention in its loan portfolio..