Legal Entity Identifier: 213800UMIOUWXZPKE539
During the six months to 30 November 2020, the Company s share price and NAV (after deducting borrowings at fair value) returned 50.8 per cent. and 53.8 per cent. respectively. This compares with a total return of 11.1 per cent. for the S&P 500 Index (in sterling terms).
¾ Moderna, held in the Company since 2018, is one of the biotechnology companies which has been at the forefront of coronavirus vaccine development. ¾ In the energy sector, there s been an acceleration in the shift towards electric vehicles. ¾ SpaceX, a private company investment, has been innovating at a breath-taking pace. ¾ We are optimistic about what the future holds. The pace of innovation is speeding up and spreading out. This ought to be a fruitful environment for growth investors.
Loan originations hit a record $16.7 billion in the fourth quarter, though executives caution that a recent rise in mortgage rates could slow refinancing activity.
Operator
Please stand by. Greetings and welcome to First Republic Bank s fourth-quarter and full-year 2020 earnings conference call. Today s conference is being recorded. [Operator instructions] Following the presentation, the conference will be open for questions.
[Operator instructions] I would now like to turn the call over to Mike Ioanilli, vice president and director of investor relations. Please go ahead.
Mike Ioanilli
Vice President and Director of Investor Relations
Thank you, and welcome to the First Republic Bank s fourth-quarter 2020 conference call. Speaking today will be Jim Herbert, the bank s founder, chairman, and CEO; Gaye Erkan, president and board member; and Mike Roffler, chief financial officer. Before I hand the call over to Jim, please note that we may make forward-looking statements during today s call that are subject to risks, uncertainties, and assumptions. For a more complete discussion of the risks and uncertainties that could cause actual results
ASX 200, Hang Seng Index Eye China Trade Data. S&P 500 on the Defensive
S&P 500, HANG SENG, ASX 200 INDEX OUTLOOK:
An uninspired US trading session offers little clue for the Hang Seng and ASX 200 indexes
China import and export growth data may set the tone for Asia-Pacific and European trading
Treasury yields retreated for a second day; US Dollar rebounded. US earnings season kicks off
S&P 500, China Trade Balance, ASX 200, Asia-Pacific at Open:
US equity indices hovered near their record highs overnight, underpinned by stimulus hopes, a gradual rollout of Covid vaccines and falling Treasury yields that help alleviate pressure on risk assets in general. Trading was tilted to the defensive side, with utilities (+1.94%), real estate (+1.39%) and information technology (0.65%) leading the gains. Meanwhile, cyclical-linked materials (-1.06%), industrials (-0.86%) and energy (-0.79%) trailed.
In the current market session,
First Republic Bank Inc. (NYSE:FRC) is trading at $158.14, after a 2.18% drop. However, over the past month, the stock went up by 14.51%, and in the past year, by 33.81%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is not performing up to par in the current session.
Assuming that all other factors are held constant, this could present itself as an opportunity for shareholders trying to capitalize on the higher share price. The stock is currently below from its 52 week high by 4.11%.
The P/E ratio is used by long-term shareholders to assess the company s market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E indicates that shareholders do not expect the stock to perform better in the future, and that the company is probably undervalued. It shows that shareholders are less than willing to pay a high share price, because they do not expect the co