BidaskClub upgraded shares of Republic First Bancorp (NASDAQ:FRBK) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, BidAskClub reports.
Separately, TheStreet cut shares of Republic First Bancorp from a b- rating to a c rating in a research report on Wednesday, May 1st.
FRBK opened at $4.97 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.28. Republic First Bancorp has a 1 year low of $4.55 and a 1 year high of $8.50. The firm has a market capitalization of $288.33 million, a P/E ratio of 37.69 and a beta of 0.96.
Republic First Bancorp (NASDAQ:FRBK) last posted its quarterly earnings data on Thursday, April 25th. The bank reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.03). The company had revenue of $24.17 million for the quarter. Republic First Bancorp had a return on equity of 3.02% and a net margin of 6.19%.
In related news, Director Harry Madonna acquired 10,000 shares of Republic First Bancorp stock in a transaction on Tuesday, May 21st. The stock was bought at an average cost of $5.10 per share, for a total transaction of $51,000.00. Following the completion of the transaction, the director now owns 698,684 shares of the company’s stock, valued at approximately $3,563,288.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 19,400 shares of company stock valued at $97,386 over the last 90 days. 13.10% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP raised its position in Republic First Bancorp by 7.7% during the first quarter. Wellington Management Group LLP now owns 3,822,004 shares of the bank’s stock worth $20,066,000 after acquiring an additional 274,493 shares during the period. Schaller Investment Group Inc. raised its position in shares of Republic First Bancorp by 0.3% in the fourth quarter. Schaller Investment Group Inc. now owns 3,797,385 shares of the bank’s stock valued at $22,670,000 after buying an additional 10,500 shares during the last quarter. BlackRock Inc. raised its position in shares of Republic First Bancorp by 1.8% in the fourth quarter. BlackRock Inc. now owns 3,349,170 shares of the bank’s stock valued at $19,994,000 after buying an additional 58,035 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Republic First Bancorp by 1.0% in the third quarter. Vanguard Group Inc. now owns 2,222,304 shares of the bank’s stock valued at $15,890,000 after buying an additional 20,989 shares during the last quarter. Finally, Banc Funds Co. LLC raised its position 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 buying an additional 40,000 shares during the last quarter. Institutional investors own 59.43% of the company’s stock.
About Republic First Bancorp
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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