Major Move Is Coming For First Republic Bank After Bullish Options Activity

 Major Move Is Coming For First Republic Bank After Bullish Options Activity

In today’s session First Republic Bank (FRC) registered an unusually high (1,315) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious FRC increase. With 1,315 contracts traded and 9694 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: FRC161118C00075000 closed last at: $0.6 or 0% . About 176,144 shares traded hands. First Republic Bank (NYSE:FRC) has risen 9.83% since April 5, 2016 and is uptrending. It has outperformed by 7.87% the S&P500.

First Republic Bank (NYSE:FRC) Ratings Coverage

Out of 10 analysts covering First Republic Bank (NYSE:FRC), 6 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 60% are positive. First Republic Bank has been the topic of 20 analyst reports since October 6, 2015 according to StockzIntelligence Inc. Barclays Capital maintained First Republic Bank (NYSE:FRC) rating on Friday, October 14. Barclays Capital has “Overweight” rating and $81 price target. HSBC upgraded the stock to “Buy” rating in Monday, February 22 report. RBC Capital Markets maintained First Republic Bank (NYSE:FRC) on Monday, October 19 with “Sector Perform” rating. The company was maintained on Friday, July 15 by Keefe Bruyette & Woods. As per Monday, February 22, the company rating was upgraded by Jefferies. The stock of First Republic Bank (NYSE:FRC) earned “Market Perform” rating by Wood on Friday, October 14. The company was maintained on Friday, October 14 by FBR Capital. The firm has “Outperform” rating by Raymond James given on Wednesday, November 11. FBR Capital maintained the stock with “Mkt Perform” rating in Friday, July 15 report. The firm has “Overweight” rating given on Thursday, August 11 by Barclays Capital.

According to Zacks Investment Research, “First Republic Bank operates as a commercial bank offering private banking, business banking, real estate lending and wealth management services in California. The bank’s services are catered to accounting firms, architecture and design, business management firms, entertainment/media, family offices, hedge funds, independent schools, investment firms, law firms, medical firms, non-profit organizations, private equity funds/firms, property management firms, venture capital firms and etc. Services offered by First Republic include asset allocation, trust administration, custody, asset management, brokerage, private placements, ATM rebate checking, money market checking, passbook savings, and certificates of deposit and etc. The Company’s product include family mortgages, co-op and condominium loans, home equity lines of credit, bridge loans, and construction-to-permanent loans; commercial lending and personal lending. First Republic Bank is headquartered in San Francisco, California.”

First Republic Bank is a commercial bank and trust company. The company has a market cap of $11.49 billion. 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. It has a 20.01 P/E ratio. It operates through two divisions: Commercial Banking and Wealth Management.

FRC Company Profile

First Republic Bank, incorporated 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 divisions: 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.

More notable recent First Republic Bank (NYSE:FRC) news were published by: Wsj.com which released: “First Republic: Is It Wrong to Build a Bank for Wealthy Clients Only?” on August 16, 2016, also Forbes.com with their article: “Ex-Dividend Reminder: Ford Motor, Williams Sonoma and First Republic Bank” published on October 21, 2016, Prnewswire.com published: “First Republic Bank To Host Investor Day” on October 18, 2016. More interesting news about First Republic Bank (NYSE:FRC) were released by: Finance.Yahoo.com and their article: “First Republic Bank beats 3Q profit forecasts” published on October 13, 2016 as well as Nasdaq.com‘s news article titled: “FIRST REPUBLIC BANK (FRC) Ex-Dividend Date Scheduled for October 25, 2016” with publication date: October 24, 2016.

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