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First Republic Bank (FRC)

- NYSE
  • Fri, Mar. 13, 9:25 AM
    | Fri, Mar. 13, 9:25 AM | Comment!
  • Thu, Mar. 12, 4:17 PM
    • It's stock trading for more than double the most-recently reported book value, First Republic (NYSE:FRC) decides to issue 3.5M shares, with an underwriter greenshoe of 525K shares.
    • Source: Press Release
    • The stock's lower by 1.3% premarket to $58.91. Dec. 31 book value per share was $28.13.
    | Thu, Mar. 12, 4:17 PM | Comment!
  • Thu, Jan. 22, 12:35 PM
    • Mercilessly sold since the year turned, banks are putting in a rare session of outperformance, helped along by some earnings beats from regional lenders and the return of animal spirits in M&A with RBC's purchase of City National (CYN +18.6%) for $5.4B.
    • The XLF +1.4% vs. the S&P's 0.6% gain today, and the regional bank ETF (NYSEARCA:KRE) is higher by 3.1%.
    • Among today's reporters putting in big gains are KeyCorp (KEY +5.5%), BB&T (BBT +2.4%), and Huntington Bancshares (HBAN +2.6%), though Flagstar Bancorp (FBC -4.8%) missed estimates.
    • Others: Regions Financial (RF +3.9%), PNC Financial (PNC +1.6%), Synovus (SNV +3.2%), M&T Bank (MTB +3%), Hudson City (HCBK +3.1%), First Horizon (FHN +2.7%), and First Republic (FRC +4.9%).
    • ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, IAT, IAI, SEF, IYG, FXO, FNCL, KBWB, QABA, FINU, KRU, RWW, KBWR, RYF, PSCF, FINZ, KRS
    • Among the TBTFs, Citigroup (C +2.7%) and Bank of America (BAC +2.5%) are leading the way.
    | Thu, Jan. 22, 12:35 PM | 9 Comments
  • Jul. 16, 2014, 3:13 PM
    • Flattish for most of the session following this morning's earnings miss, First Republic (FRC -13.7%) tumbles amid the earnings call, with management noting the elevated expenses associated with getting over $50B in assets (and thus being subject to heightened regulatory scrutiny).
    • The bank says its efficiency ratio - guided at 59-62% - will remain elevated until sometime in 2016.
    • New York Community Bank (NYCB -3%) - also around that $50B level - is sliding in concert.
    • Previously: First Republic Bank misses by $0.07, misses on revenue
    | Jul. 16, 2014, 3:13 PM | 5 Comments
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Company Description
First Republic Bank along with its subsidiaries provides private banking, private business banking and private wealth management, including investment, trust and brokerage services.
Sector: Financial
Country: United States