Tiverton Asset Management LLC Has Cut Position in First Republic Bank/Ca (FRC) as Valuation Declined

First Republic Bank (NYSE:FRC) Logo

Tiverton Asset Management Llc decreased its stake in First Republic Bank/Ca (FRC) by 23.01% based on its latest 2018Q3 regulatory filing with the SEC. Tiverton Asset Management Llc sold 83,007 shares as the company’s stock declined 10.47% with the market. The institutional investor held 277,665 shares of the company at the end of 2018Q3, valued at $29.01M, down from 360,672 at the end of the previous reported quarter. Tiverton Asset Management Llc who had been investing in First Republic Bank/Ca for a number of months, seems to be less bullish one the $13.91 billion market cap company. The stock decreased 0.09% or $0.07 during the last trading session, reaching $84.42. About 671,010 shares traded. First Republic Bank (NYSE:FRC) has declined 0.24% since January 14, 2018 and is downtrending. It has underperformed by 0.24% the S&P500.

Analysts await First Republic Bank (NYSE:FRC) to report earnings on January, 15 before the open. They expect $1.25 earnings per share, up 13.64 % or $0.15 from last year’s $1.1 per share. FRC’s profit will be $205.96M for 16.88 P/E if the $1.25 EPS becomes a reality. After $1.19 actual earnings per share reported by First Republic Bank for the previous quarter, Wall Street now forecasts 5.04 % EPS growth.

First Republic Bank (NYSE:FRC) Ratings Coverage

Among 6 analysts covering First Republic Bank (NYSE:FRC), 2 have Buy rating, 0 Sell and 4 Hold. Therefore 33% are positive. First Republic Bank had 7 analyst reports since July 16, 2018 according to SRatingsIntel. The stock of First Republic Bank (NYSE:FRC) has “Equal-Weight” rating given on Tuesday, December 11 by Morgan Stanley. As per Monday, October 15, the company rating was maintained by Raymond James. The stock of First Republic Bank (NYSE:FRC) earned “Equal-Weight” rating by Morgan Stanley on Tuesday, January 8. The rating was upgraded by Wells Fargo on Thursday, January 3 to “Outperform”. BMO Capital Markets maintained the shares of FRC in report on Monday, July 16 with “Market Perform” rating. Bank of America downgraded the shares of FRC in report on Thursday, January 10 to “Neutral” rating.

First Republic Bank (NYSE:FRC) Ratings Chart

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