First Republic Bank T.FRC

Primary Symbol: FRCB Alternate Symbol(s): FRCJL | FRCKL | FRCLL | FRCCL | FRCHL | FRCIL

Financial Services

First Republic Bank (the Bank) 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. It operates through two segments: Commercial Banking and Wealth Management. The principal business activities of the Commercial Banking segment are gathering deposits, originating and servicing loans and investing in investment securities. The principal business activities of the Wealth Management segment include the investment management activities of First Republic Investment Management, Inc. (FRIM), which manages investments for individuals and institutions; money market mutual fund activities through third-party providers and the brokerage activities of First Republic Securities Company, LLC (FRSC) and its foreign exchange activities conducted on behalf of clients.

GREY:FRCB - Post by User

First Republic Bank

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Post by retiredcfon May 27, 2014 1:42pm

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Post# 22602143

CIBC

Here's their report from a couple of weeks ago. Note the 18% bump in target price. GTLA

Canyon Services Group Inc.

Solid Start To The Year; Increasing PT To Peak Multiples To Reflect Momentum

 Canyon reported strong Q1/14 results with adjusted EBITDA of $27.4 million compared to our estimate of $18.4 million and consensus of $19.7 million. Overall, stronger-than-expected activity levels and higher operating margins were the largest drivers for the outperformance in the quarter.

 From an activity perspective, Q1/14 was the company's busiest quarter on record with the total proppant pumped more than doubling Y/Y, which we believe demonstrates strong market share gains. Despite pricing remaining ~30% below the peak, total revenue was the second highest in history.

 Margins improved ~930 bps Q/Q and were ~530 bps above expectations. While there were some modest cost recoveries late in the quarter, we believe the majority of the improvement came from stronger utilization and the discontinuation of select market share protection pricing from Q4/13.

 Overall, a solid quarter, which we believe reemphasizes the earnings leverage of the platform in periods of increasing utilization/pricing. The net impact of the quarter is an increase in our PT (using a peak multiple) to $18.25 from $15.50 to reflect momentum and improving market conditions

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Immigration technology stock CanPR begins trading on the TSXV