Shares of First Republic Bank /zigman2/quotes/200683073/composite FRC -4.22% rose 1.35% to $196.09 Wednesday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index /zigman2/quotes/210599714/realtime SPX +0.08% rising 0.82% to 4,358.69 and the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.56% rising 0.83% to 34,798.00. This was the stock's second consecutive day of gains. First Republic Bank closed $5.98 below its 52-week high ($202.07), which the company reached on July 14th.
The stock underperformed when compared to some of its competitors Wednesday, as Bank of America Corp. /zigman2/quotes/200894270/composite BAC -1.74% rose 2.04% to $38.46, SVB Financial Group /zigman2/quotes/200548254/composite SIVB -1.02% rose 2.20% to $574.00, and East West Bancorp Inc. /zigman2/quotes/206183036/composite EWBC +0.86% rose 2.42% to $70.34. Trading volume (712,100) eclipsed its 50-day average volume of 673,953.