As First Rep Bk San Francisco C (FRC) Share Price Declined, Rmb Capital Management LLC Has Upped Its Position

October 13, 2017 - By Maria Brooks

Rmb Capital Management Llc increased its stake in First Rep Bk San Francisco C (FRC) by 145.83% based on its latest 2017Q2 regulatory filing with the SEC. Rmb Capital Management Llc bought 241,964 shares as the company’s stock declined 5.64% while stock markets rallied. The hedge fund held 407,886 shares of the company at the end of 2017Q2, valued at $40.83M, up from 165,922 at the end of the previous reported quarter. Rmb Capital Management Llc who had been investing in First Rep Bk San Francisco C for a number of months, seems to be bullish on the $14.94 billion market cap company. The stock decreased 7.08% or $7.24 on October 13, reaching $94.97. About 3.37 million shares traded or 367.25% up from the average. First Republic Bank (NYSE:FRC) has risen 29.07% since October 13, 2016 and is uptrending. It has outperformed by 12.37% the S&P500.

Rmb Capital Management Llc, which manages about $3.98 billion and $3.49 billion US Long portfolio, decreased its stake in Ishares Tr (Put) (IWM) by 192,000 shares to 336,000 shares, valued at $47.35M in 2017Q2, according to the filing. It also reduced its holding in State Str Corp (Put) (NYSE:STT) by 80,000 shares in the quarter, leaving it with 112,000 shares, and cut its stake in Casella Waste Sys Inc (NASDAQ:CWST).

More important recent First Republic Bank (NYSE:FRC) news were published by: Businesswire.com which released: “First Republic Bank Announces Third Quarter 2017 Earnings and Conference Call Date” on September 26, 2017, also Seekingalpha.com published article titled: “First Republic Bank’s (FRC) CEO Jim Herbert on Q3 2017 Results – Earnings Call …”, Streetinsider.com published: “First Republic Bank (FRC) PT Raised to $120 at Jefferies” on September 29, 2017. More interesting news about First Republic Bank (NYSE:FRC) was released by: Nasdaq.com and their article: “First Republic Bank’s Series D Preferred Stock Crosses Above 5.5% Yield Territory” with publication date: October 06, 2017.

First Republic Bank (NYSE:FRC) Ratings Coverage

Among 17 analysts covering First Republic Bank (NYSE:FRC), 8 have Buy rating, 0 Sell and 9 Hold. Therefore 47% are positive. First Republic Bank had 51 analyst reports since October 6, 2015 according to SRatingsIntel. Wells Fargo downgraded First Republic Bank (NYSE:FRC) on Monday, January 9 to “Market Perform” rating. The firm has “Overweight” rating by JP Morgan given on Friday, July 15. RBC Capital Markets maintained First Republic Bank (NYSE:FRC) on Monday, October 19 with “Sector Perform” rating. Raymond James upgraded the shares of FRC in report on Wednesday, November 11 to “Outperform” rating. The rating was maintained by Jefferies with “Buy” on Friday, August 11. The firm has “Hold” rating by BMO Capital Markets given on Thursday, March 23. The rating was maintained by Keefe Bruyette & Woods on Friday, July 15 with “Market Perform”. The stock has “Buy” rating by HSBC on Monday, February 22. The firm has “Hold” rating given on Friday, July 7 by BMO Capital Markets. The firm earned “Hold” rating on Monday, May 29 by BMO Capital Markets.

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