NEW YORK (TheStreet) -- Shares of First Republic Bank (FRC - Get Report) are higher by 0.38% to $71.71 on Thursday morning even though the San Francisco-based company reported weaker-than-expected results for the 2016 second quarter.
Before today's opening bell, the commercial bank and trust company posted adjusted earnings of 89 cents per share, below analysts' expectations of 91 cents per share.
Revenue jumped 17.5% to $535.1 million year-over-year, but did not meet analysts' forecasts of $568.5 million.
"We are quite pleased with the strength and consistency of second quarter results," Chairman and CEO Jim Herbert said in a statement, "Earnings, credit quality and capital levels remain very strong."
Loan originations totaled $6.5 billion, which First Republic said was its strongest quarter ever.
Loans sold were $920.8 million compared to $887.2 million last year.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of A+ on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, growth in earnings per share and increase in net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: FRC