Morgan Stanley Stock Outperforms Market On Strong Trading Day

First Republic Bank

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Financials : Banks | Small Cap Value

Company profile

First Republic Bank (the Bank) is a commercial bank and trust company. The Bank specializes in providing services, including private banking, private business banking, real estate lending and wealth management services, including trust and custody services, to clients in selected metropolitan areas in the United States. It operates through two segments: Commercial Banking and Wealth Management. The principal business activities of the Commercial Banking segment are gathering deposits, originating and servicing loans and investing in investment securities. The principal business activities of the Wealth Management segment include the investment management activities of First Republic Investment Management, Inc. (FRIM), which manages investments for individuals and institutions; money market mutual fund activities through third-party providers and the brokerage activities of First Republic Securities Company, LLC (FRSC) and its foreign exchange activities conducted on behalf of clients.

Morgan Stanley Stock Outperforms Market On Strong Trading Day

5:12 pm ET March 3, 2023 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Morgan Stanley (MS) rose 2.34% to $98.33 Friday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500 Index rising 1.61% to 4,045.64 and the Dow Jones Industrial Average rising 1.17% to 33,390.97. The stock's rise snapped a five-day losing streak. Morgan Stanley closed $2.66 short of its 52-week high ($100.99), which the company reached on February 14th.

The stock outperformed some of its competitors Friday, as JPMorgan Chase & Co. (JPM) rose 1.84% to $143.66, Wells Fargo & Co. (WFC) rose 2.29% to $46.85, and Charles Schwab Corp. (SCHW) rose 1.73% to $77.41. Trading volume (6.5 M) remained 364,346 below its 50-day average volume of 6.9 M.

Data source: Dow Jones Market Data, FactSet. Data compiled March 3, 2023.

(END) Dow Jones Newswires

March 03, 2023 17:12 ET (22:12 GMT)