On April 20, 2023 at 09:59:55 ET an unusually large $270.05K block of Call contracts in First Republic Bank (FRC) was sold, with a strike price of $15.00 / share, expiring in 8 day(s) (on April 28, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.07 sigmas above the mean, placing it in the 84.11th percentile of all recent large trades made in FRC options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1456 funds or institutions reporting positions in First Republic Bank. This is a decrease of 12 owner(s) or 0.82% in the last quarter. Average portfolio weight of all funds dedicated to FRC is 0.40%, an increase of 9.69%. Total shares owned by institutions increased in the last three months by 1.18% to 207,731K shares. The put/call ratio of FRC is 1.13, indicating a bearish outlook.

Analyst Price Forecast Suggests 599.72% Upside

As of April 6, 2023, the average one-year price target for First Republic Bank is $98.94. The forecasts range from a low of $5.05 to a high of $170.10. The average price target represents an increase of 599.72% from its latest reported closing price of $14.14.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for First Republic Bank is $6,050MM, an increase of 5.07%. The projected annual non-GAAP EPS is $7.13.

What are Other Shareholders Doing?

Commonwealth Of Pennsylvania Public School Empls Retrmt Sys holds 31K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 27K shares, representing an increase of 13.57%. The firm decreased its portfolio allocation in FRC by 9.14% over the last quarter.

Bleakley Financial Group holds 3K shares representing 0.00% ownership of the company.

Bamco holds 244K shares representing 0.13% ownership of the company. In it’s prior filing, the firm reported owning 248K shares, representing a decrease of 1.45%. The firm decreased its portfolio allocation in FRC by 4.35% over the last quarter.

Bank Of Hawaii holds 5K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 4K shares, representing an increase of 22.95%. The firm decreased its portfolio allocation in FRC by 99.86% over the last quarter.

State Board Of Administration Of Florida Retirement System holds 207K shares representing 0.11% ownership of the company. In it’s prior filing, the firm reported owning 206K shares, representing an increase of 0.46%. The firm decreased its portfolio allocation in FRC by 10.47% over the last quarter.

First Republic Bank Background Information
(This description is provided by the company.)

Founded in 1985, First Republic and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. First Republic specializes in delivering exceptional, relationship-based service and offers a complete line of products, including residential, commercial and personal loans, deposit services, and wealth management. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; and Jackson, Wyoming. First Republic is a constituent of the S&P 500 Index and KBW Nasdaq Bank Index.

See all First Republic Bank regulatory filings.

This article originally appeared on Fintel

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