Schwab Charles Investment Management Inc. grew its stake in Republic First Bancorp, Inc. (NASDAQ:FRBK) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,400 shares of the bank’s stock after acquiring an additional 2,300 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.14% of Republic First Bancorp worth $753,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. American International Group Inc. boosted its holdings in Republic First Bancorp by 56.5% in the first quarter. American International Group Inc. now owns 30,265 shares of the bank’s stock worth $251,000 after acquiring an additional 10,926 shares in the last quarter. Nationwide Fund Advisors boosted its holdings in Republic First Bancorp by 14.0% in the first quarter. Nationwide Fund Advisors now owns 31,468 shares of the bank’s stock worth $261,000 after acquiring an additional 3,859 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in Republic First Bancorp by 9.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 36,387 shares of the bank’s stock worth $302,000 after acquiring an additional 3,142 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Republic First Bancorp by 29.6% in the first quarter. Dimensional Fund Advisors LP now owns 453,288 shares of the bank’s stock worth $3,762,000 after acquiring an additional 103,512 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Republic First Bancorp by 52.7% in the first quarter. Wells Fargo & Company MN now owns 52,900 shares of the bank’s stock worth $439,000 after acquiring an additional 18,250 shares in the last quarter. 54.69% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on FRBK shares. BidaskClub raised Republic First Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Keefe, Bruyette & Woods set a $9.00 target price on Republic First Bancorp and gave the stock a “hold” rating in a report on Sunday, July 23rd.
Republic First Bancorp (NASDAQ:FRBK) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04. Republic First Bancorp had a return on equity of 3.51% and a net margin of 8.97%. The business had revenue of $21.49 million for the quarter.
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Republic First Bancorp Company Profile
Republic First Bancorp, Inc is a holding company for Republic First Bank (Republic or the Bank), which does business under the name Republic Bank. The Company’s community banking segment encompasses the commercial loan and deposit activities of Republic, as well as consumer loan products in the areas surrounding its store network.
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