First Republic stock rocked as Wall Street braces for profit headwinds

First Republic Bank’s stock fell sharply on Tuesday as analysts sifted through a difficult first-quarter update from the closely-watched lender and found little clarity on its future as it re-tools its core business after a drop in deposits.

First Republic stock FRC is down 21.9% as the most heavily-traded issue in premarket action with volume of about 2.7 million shares, according to MarketWatch’s Premarket Screener.

Analysts…