Editor's Note: This article has been updated to reflect FRC's non-GAAP earnings results. The previous EPS was the company's GAAP results'

NEW YORK (TheStreet) -- First Republic Bank(FRC) - Get Report shares are down 0.63% to $47.46 in trading on Thursday after the San Francisco-based bank released its fourth quarter earnings results today.

The company reported fourth quarter net income of $115.5 million which was flat from the previous year, and an EPS of 72 cents per share, one cent better than analysts' expectations for the quarter.

The bank also reported revenue of $416.7 million that failed to meet analysts' $428 million expectations for the period.

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For the year, the company's profit increased 5% to $487 million, or $3.07 per share, though the stock has fallen 7.5% over the past 12 months.

TheStreet Ratings team rates FIRST REPUBLIC BANK as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate FIRST REPUBLIC BANK (FRC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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FRC

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