Morgan Stanley analyst Ken Zerbe maintained a Hold rating on First Republic Bank (FRC) today and set a price target of $103.00. The company’s shares closed last Monday at $85.87, close to its 52-week low of $84.90.
According to TipRanks.com, Zerbe is a 1-star analyst with an average return of -1.0% and a 40.2% success rate. Zerbe covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Valley National Bancorp.
Currently, the analyst consensus on First Republic Bank is a Hold with an average price target of $119.18.
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Based on First Republic Bank’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $246 million. In comparison, last year the company had a net profit of $231 million.
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First Republic Bank engages in the provision of private banking, business banking, real estate lending, and wealth management, including trust and custody services. It operates through the Commercial Banking and Wealth Management segments.
