Morgan Stanley Remains a Hold on First Republic Bank (FRC)


In a report released today, Ken Zerbe from Morgan Stanley maintained a Hold rating on First Republic Bank (FRC), with a price target of $100.00. The company’s shares closed last Wednesday at $99.57.

According to TipRanks.com, Zerbe is a 1-star analyst with an average return of -3.8% and a 44.2% success rate. Zerbe covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, People’s United Financial, and Valley National Bancorp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Republic Bank with a $101.29 average price target, which is a 0.8% upside from current levels. In a report released yesterday, Atlantic Equities also upgraded the stock to Hold with a $95.00 price target.

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The company has a one-year high of $122.34 and a one-year low of $70.06. Currently, First Republic Bank has an average volume of 1.5M.

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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. The Commercial Banking segment represents most of the operations, including real estate secured lending, retail deposit gathering, private banking activities, mortgage sales and servicing, and managing capital, liquidity, and interest rate risk. The Wealth Management segment consists of the investment management activities of FRIM, First Republic Trust Company, FRTC Delaware, mutual fund activities through third-party providers, the brokerage activities of FRSC, and foreign exchange activities conducted on behalf of clients. The company was founded by James H. Herbert II in February 1985 and is headquartered in San Francisco, CA.

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