Republic First Bancorp (NASDAQ:FRBK) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of Republic First Bancorp (NASDAQ:FRBK) from a strong sell rating to a sell rating in a report published on Thursday morning, BidAskClub reports.

Shares of FRBK stock traded up $0.10 during trading hours on Thursday, hitting $4.53. 3,713 shares of the company were exchanged, compared to its average volume of 198,250. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.63 and a current ratio of 0.64. Republic First Bancorp has a one year low of $3.86 and a one year high of $7.85. The business’s 50-day simple moving average is $4.14 and its two-hundred day simple moving average is $4.96. The stock has a market capitalization of $247.73 million, a price-to-earnings ratio of 42.10 and a beta of 0.90.

Republic First Bancorp (NASDAQ:FRBK) last released its quarterly earnings data on Monday, July 29th. The bank reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). The business had revenue of $26.40 million for the quarter. Republic First Bancorp had a return on equity of 2.16% and a net margin of 4.31%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cordasco Financial Network acquired a new stake in Republic First Bancorp during the second quarter worth about $28,000. Wasatch Advisors Inc. increased its stake in shares of Republic First Bancorp by 11.4% in the second quarter. Wasatch Advisors Inc. now owns 3,097,921 shares of the bank’s stock valued at $15,211,000 after purchasing an additional 316,947 shares during the period. Conservest Capital Advisors Inc. increased its stake in shares of Republic First Bancorp by 2.8% in the second quarter. Conservest Capital Advisors Inc. now owns 160,256 shares of the bank’s stock valued at $787,000 after purchasing an additional 4,400 shares during the period. Banc Funds Co. LLC increased its stake in shares of Republic First Bancorp by 1.9% in the first quarter. Banc Funds Co. LLC now owns 2,165,576 shares of the bank’s stock valued at $11,369,000 after purchasing an additional 40,000 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Republic First Bancorp in the first quarter valued at approximately $68,000. Hedge funds and other institutional investors own 58.55% of the company’s stock.

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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