BidaskClub downgraded shares of Republic First Bancorp (NASDAQ:FRBK) from a sell rating to a strong sell rating in a report issued on Wednesday morning.
A number of other equities research analysts have also recently weighed in on FRBK. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $9.00 price target on shares of Republic First Bancorp in a report on Tuesday, October 3rd. Sandler O’Neill reissued a hold rating and issued a $9.50 target price on shares of Republic First Bancorp in a research note on Thursday, January 25th.
Shares of Republic First Bancorp (FRBK) opened at $8.60 on Wednesday. Republic First Bancorp has a twelve month low of $7.40 and a twelve month high of $9.90. The firm has a market capitalization of $481.55, a price-to-earnings ratio of 57.33 and a beta of 0.91. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Republic First Bancorp by 21.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 98,584 shares of the bank’s stock valued at $834,000 after buying an additional 17,184 shares during the period. California Public Employees Retirement System increased its stake in shares of Republic First Bancorp by 27.6% in the 3rd quarter. California Public Employees Retirement System now owns 122,699 shares of the bank’s stock valued at $1,135,000 after buying an additional 26,535 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Republic First Bancorp by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 518,618 shares of the bank’s stock valued at $4,797,000 after buying an additional 20,242 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Republic First Bancorp in the 3rd quarter valued at $113,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Republic First Bancorp in the 3rd quarter valued at $134,000. 54.36% of the stock is owned by institutional investors.
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About Republic First Bancorp
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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