Republic First Bancorp (FRBK) Lifted to “Hold” at BidaskClub

Republic First Bancorp (NASDAQ:FRBK) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, TheStreet cut Republic First Bancorp from a “b” rating to a “c+” rating in a research report on Monday, August 20th.

Shares of FRBK stock opened at $7.39 on Tuesday. Republic First Bancorp has a 1 year low of $6.41 and a 1 year high of $9.75. The firm has a market cap of $443.85 million, a PE ratio of 68.64 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.64 and a current ratio of 0.65.

Republic First Bancorp (NASDAQ:FRBK) last issued its quarterly earnings results on Thursday, October 25th. The bank reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). Republic First Bancorp had a net margin of 8.64% and a return on equity of 2.71%. The firm had revenue of $24.28 million for the quarter.

In related news, Director Theodore J. Flocco, Jr. acquired 10,000 shares of Republic First Bancorp stock in a transaction dated Thursday, November 1st. The stock was acquired at an average cost of $6.79 per share, with a total value of $67,900.00. Following the purchase, the director now directly owns 40,000 shares in the company, valued at approximately $271,600. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.80% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRBK. Vanguard Group Inc. boosted its stake in Republic First Bancorp by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,222,304 shares of the bank’s stock worth $15,890,000 after purchasing an additional 20,989 shares during the period. MetLife Investment Advisors LLC boosted its stake in Republic First Bancorp by 47.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 32,436 shares of the bank’s stock worth $232,000 after purchasing an additional 10,405 shares during the period. Citadel Advisors LLC boosted its stake in Republic First Bancorp by 43.9% in the 3rd quarter. Citadel Advisors LLC now owns 87,473 shares of the bank’s stock worth $625,000 after purchasing an additional 26,688 shares during the period. Dimensional Fund Advisors LP boosted its stake in Republic First Bancorp by 30.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 807,872 shares of the bank’s stock worth $5,776,000 after purchasing an additional 188,580 shares during the period. Finally, BlackRock Inc. boosted its stake in Republic First Bancorp by 22.3% in the 3rd quarter. BlackRock Inc. now owns 3,291,135 shares of the bank’s stock worth $23,532,000 after purchasing an additional 600,423 shares during the period. 58.32% of the stock is owned by institutional investors and hedge funds.

Republic First Bancorp Company Profile

Republic First Bancorp, Inc operates as the holding company for Republic First Bank that provides a range of credit and depository banking products and services to individuals and businesses primarily in Greater Philadelphia and Southern New Jersey. It offers consumer and commercial deposit, checking, interest-bearing demand, money market, savings, sweep, and individual retirement accounts, as well as certificates of deposit.

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