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How These Money Center Banks Stocks are Faring? -- FirstMerit, Royal Bank of Canada, First Republic Bank, and Bank of Nova Scotia

NEW YORK, August 12, 2016 /PRNewswire/ --

The Money Center Banking industry includes financial institutions, which are involved in activities with national and international governments, large corporations, and regular banks. Stocks under review on this morning are: FirstMerit Corp. (NASDAQ: FMER), Royal Bank of Canada (NYSE: RY), First Republic Bank (NYSE: FRC), and The Bank of Nova Scotia (NYSE: BNS).  Register now and get full and free access to our downloadable research reports on these stocks at:


Akron, Ohio headquartered FirstMerit Corp.'s shares gained 0.05%, closing Thursday's trading session at $21.38. The stock recorded a trading volume of 414,474 shares. The Company's shares have advanced 4.19% in the last month and 16.52% since the start of this year. The stock is trading 2.00% above its 50-day moving average and 6.24% above its 200-day moving average. Additionally, shares of FirstMerit, which operates as the bank holding company for FirstMerit Bank N.A. that provides various banking, fiduciary, financial, insurance, and investment services to corporate, institutional, and individual customers in the US,  have a Relative Strength Index (RSI) of 56.32.

On July 27th, 2016, Huntington Bancshares Incorporated and FirstMerit announced that, in connection with their proposed merger, FirstMerit Bank, N.A. will sell 13 branches within Stark and Ashtabula counties, with approximately $735 million in total deposits and $115 million in total loans as of May 31st, 2016, to First Commonwealth Bank, the banking subsidiary of First Commonwealth Financial Corporation. Access our complete research report on FMER for free at:

Royal Bank of Canada  

On Thursday, shares in Toronto, Canada headquartered Royal Bank of Canada recorded a trading volume of 812,477 shares. The stock rose 1.01%, ending the day at $62.03. The Company's shares have advanced 2.66% in the last month, 4.49% in the previous three months, and 19.58% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 3.11% and 11.56%, respectively. Furthermore, shares of Royal Bank of Canada, which together with its subsidiaries, operates as a diversified financial service company worldwide, have an RSI of 63.23.

On July 12th, 2016, research firm Bank of America/ Merrill resumed its 'Underperform' rating on the Company's stock.

On August 5th, 2016, RBC Global Asset Management, the asset management division of Royal Bank of Canada, announced July mutual fund net sales of $1.0 billion. The company's long-term funds had net sales of $948 million and money market funds had net sales of $69 million in July, 2016. RBC Global Asset Management's assets under management increased by 3.2%. The complimentary research report on RY can be downloaded at:

First Republic Bank  

San Francisco, California headquartered First Republic Bank's stock finished the day 0.53% higher at $72.48 and with a total volume of 637,335 shares traded. The Company's shares have gained 1.68% in the last one month, 6.90% over the previous three months, and 10.47% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 3.38% and 8.06%, respectively. Additionally, shares of First Republic Bank, which together with its subsidiaries, provides private banking, private business banking, real estate lending, and wealth management services to clients in metropolitan areas of the US, have an RSI of 57.64.

On July 25th, 2016, First Republic Bank announced the pricing of $400,000,000 in aggregate principal amount of its Subordinated Notes due 2046. First Republic will pay interest on the Subordinated Notes semi-annually in arrears on February 1st and August 1st of each year, beginning on February 1st, 2017. The Subordinated Notes will bear interest at a rate of 4.375% per annum and, unless previously redeemed, will mature on August 1st, 2046.  

Yesterday, research firm Barclays reiterated its 'Overweight' rating on the Company's stock with an increase of the target price from $78 a share to $84 a share. Register for free on and get access to the latest PDF format report on FRC at:

The Bank of Nova Scotia  

Shares in Halifax, Canada headquartered The Bank of Nova Scotia ended yesterday's session 0.98% higher at $51.59. The stock recorded a trading volume of 523,319 shares. The Company's shares have advanced 3.08% in the last one month, 6.39% in the previous three months, and 30.50% on an YTD basis. The stock is trading 3.27% above its 50-day moving average and 14.08% above its 200-day moving average. Moreover, shares of Bank of Nova Scotia, which provides various personal, commercial, corporate, and investment banking services in Canada and internationally, have an RSI of 64.96.

On August 8th, 2016, Reuters reported that Bank of Nova Scotia has applied to Taiwan's financial regulator to exit the local market as part of a strategy shift in the Asia Pacific region. Download your free research report on BNS at:


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