As First Rep Bk San Francisco C (FRC) Stock Price Rose, Grandeur Peak Global Advisors Has Decreased Position; New Residential Invt (NRZ) Shareholder Orinda Asset Management Lifted Stake

June 18, 2018 - By Marie Mckinney

First Republic Bank (NYSE:FRC) Logo

Orinda Asset Management Llc increased its stake in New Residential Invt Corp (NRZ) by 189.78% based on its latest 2018Q1 regulatory filing with the SEC. Orinda Asset Management Llc bought 85,400 shares as the company’s stock rose 8.06% while stock markets declined. The institutional investor held 130,400 shares of the real estate investment trusts company at the end of 2018Q1, valued at $2.15M, up from 45,000 at the end of the previous reported quarter. Orinda Asset Management Llc who had been investing in New Residential Invt Corp for a number of months, seems to be bullish on the $6.16B market cap company. The stock increased 0.94% or $0.17 during the last trading session, reaching $18.32. About 1.43 million shares traded. New Residential Investment Corp. (NYSE:NRZ) has risen 9.56% since June 18, 2017 and is uptrending. It has underperformed by 3.01% the S&P500.

Grandeur Peak Global Advisors Llc decreased its stake in First Rep Bk San Francisco C (FRC) by 9.63% based on its latest 2018Q1 regulatory filing with the SEC. Grandeur Peak Global Advisors Llc sold 19,100 shares as the company’s stock rose 4.55% while stock markets declined. The institutional investor held 179,300 shares of the company at the end of 2018Q1, valued at $16.61M, down from 198,400 at the end of the previous reported quarter. Grandeur Peak Global Advisors Llc who had been investing in First Rep Bk San Francisco C for a number of months, seems to be less bullish one the $16.16 billion market cap company. The stock increased 0.20% or $0.2 during the last trading session, reaching $99.79. About 275,088 shares traded. First Republic Bank (NYSE:FRC) has risen 7.17% since June 18, 2017 and is uptrending. It has underperformed by 5.40% the S&P500.

Analysts await First Republic Bank (NYSE:FRC) to report earnings on July, 13. They expect $1.15 earnings per share, up 8.49% or $0.09 from last year’s $1.06 per share. FRC’s profit will be $186.28 million for 21.69 P/E if the $1.15 EPS becomes a reality. After $1.13 actual earnings per share reported by First Republic Bank for the previous quarter, Wall Street now forecasts 1.77% EPS growth.

More notable recent First Republic Bank (NYSE:FRC) news were published by: Seekingalpha.com which released: “First Republic reports pricing of $300M preferred stock offering” on June 05, 2018, also Globenewswire.com with their article: “Report: Developing Opportunities within Cimarex Energy, MSCI, Prestige Brand, MGM Resorts International, Discover …” published on June 12, 2018, Benzinga.com published: “Benzinga’s Top Upgrades, Downgrades For June 18, 2018” on June 18, 2018. More interesting news about First Republic Bank (NYSE:FRC) were released by: Streetinsider.com and their article: “Citi Starts First Republic Bank (FRC) at Buy” published on June 18, 2018 as well as Seekingalpha.com‘s news article titled: “First Republic Bank: This 5.50% Preferred Stock Has Begun Trading On The NYSE” with publication date: June 13, 2018.

Grandeur Peak Global Advisors Llc, which manages about $1.61 billion and $884.84 million US Long portfolio, upped its stake in Lgi Homes Inc (NASDAQ:LGIH) by 13,175 shares to 115,501 shares, valued at $8.15 million in 2018Q1, according to the filing. It also increased its holding in Ritchie Bros Auctioneers Inc (NYSE:RBA) by 126,550 shares in the quarter, for a total of 983,850 shares, and has risen its stake in Lululemon Athletica Inc (NASDAQ:LULU).

Among 20 analysts covering First Republic Bank (NYSE:FRC), 9 have Buy rating, 0 Sell and 11 Hold. Therefore 45% are positive. First Republic Bank had 88 analyst reports since October 6, 2015 according to SRatingsIntel. BMO Capital Markets maintained First Republic Bank (NYSE:FRC) on Monday, October 16 with “Market Perform” rating. Keefe Bruyette & Woods maintained the stock with “Hold” rating in Thursday, September 28 report. Barclays Capital maintained the shares of FRC in report on Friday, October 14 with “Overweight” rating. BMO Capital Markets maintained the shares of FRC in report on Monday, May 29 with “Hold” rating. The firm has “Mkt Perform” rating given on Friday, October 14 by FBR Capital. Barclays Capital maintained the stock with “Equal-Weight” rating in Monday, October 16 report. The firm has “Buy” rating by Jefferies given on Friday, June 9. The company was maintained on Tuesday, January 17 by Maxim Group. Barclays Capital downgraded the stock to “Equal-Weight” rating in Tuesday, October 10 report. The rating was maintained by BMO Capital Markets with “Hold” on Monday, December 18.

Investors sentiment increased to 1.97 in 2018 Q1. Its up 0.66, from 1.31 in 2017Q4. It is positive, as 20 investors sold NRZ shares while 57 reduced holdings. 44 funds opened positions while 108 raised stakes. 152.50 million shares or 9.96% more from 138.68 million shares in 2017Q4 were reported. Amalgamated Bancorporation has invested 0.03% of its portfolio in New Residential Investment Corp. (NYSE:NRZ). North Star Investment reported 0% in New Residential Investment Corp. (NYSE:NRZ). Metropolitan Life Ins Ny accumulated 9,606 shares. Tiaa Cref Inv Mngmt Ltd Llc holds 1.01 million shares. Grisanti Cap Ltd Llc has 0.08% invested in New Residential Investment Corp. (NYSE:NRZ). The Nevada-based Navellier Assocs Incorporated has invested 0.04% in New Residential Investment Corp. (NYSE:NRZ). Lsv Asset, a Illinois-based fund reported 659,200 shares. Invesco has invested 0.01% in New Residential Investment Corp. (NYSE:NRZ). Pitcairn holds 20,394 shares. Prudential Financial Inc holds 0.01% of its portfolio in New Residential Investment Corp. (NYSE:NRZ) for 331,785 shares. Visionary Asset Mngmt holds 0.1% or 19,284 shares. 330,215 were reported by Aviance Cap Management Ltd. Ares Mngmt Ltd Liability has 78,700 shares. Meeder Asset Mngmt Incorporated invested in 0.28% or 180,682 shares. Pnc Financial Ser Group stated it has 0% in New Residential Investment Corp. (NYSE:NRZ).

Orinda Asset Management Llc, which manages about $286.18M and $59.44M US Long portfolio, decreased its stake in Vereit Inc by 510,000 shares to 30,000 shares, valued at $209,000 in 2018Q1, according to the filing. It also reduced its holding in Colony Northstar Inc by 793,763 shares in the quarter, leaving it with 31,754 shares, and cut its stake in Sabra Health Care Reit Inc (NASDAQ:SBRA).

Among 8 analysts covering New Residential Investment Corp (NYSE:NRZ), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. New Residential Investment Corp had 24 analyst reports since August 12, 2015 according to SRatingsIntel. The stock of New Residential Investment Corp. (NYSE:NRZ) has “Outperform” rating given on Thursday, January 18 by Wedbush. The stock of New Residential Investment Corp. (NYSE:NRZ) earned “Neutral” rating by Nomura on Wednesday, October 26. The rating was maintained by Piper Jaffray on Thursday, October 26 with “Buy”. The firm earned “Buy” rating on Friday, June 23 by FBR Capital. FBR Capital maintained the shares of NRZ in report on Tuesday, February 13 with “Buy” rating. Piper Jaffray maintained the shares of NRZ in report on Thursday, November 30 with “Buy” rating. The stock of New Residential Investment Corp. (NYSE:NRZ) earned “Outperform” rating by FBR Capital on Thursday, February 25. Barclays Capital maintained New Residential Investment Corp. (NYSE:NRZ) rating on Wednesday, August 10. Barclays Capital has “Overweight” rating and $16 target. The stock of New Residential Investment Corp. (NYSE:NRZ) has “Outperform” rating given on Thursday, October 6 by Wedbush. FBR Capital maintained New Residential Investment Corp. (NYSE:NRZ) on Wednesday, November 29 with “Buy” rating.

More recent New Residential Investment Corp. (NYSE:NRZ) news were published by: Seekingalpha.com which released: “Solid mREIT Buy: 11.1% Yielder, Well Positioned For Rising Rates, Increasing Book Value, Poised To Break Out” on May 25, 2018. Also Gurufocus.com published the news titled: “Cheap Stocks in a Cheap Sector” on June 13, 2018. Seekingalpha.com‘s news article titled: “Boston Scientific Is A Good Earnings Story – Cramer’s Lightning Round (6/13/18)” with publication date: June 14, 2018 was also an interesting one.

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