TheStreet Lowers Republic First Bancorp Inc. (FRBK) to Hold
Republic First Bancorp Inc. (NASDAQ:FRBK) was downgraded by investment analysts at TheStreet from a “buy” rating to a “hold” rating in a research note issued on Friday.
Separately, Keefe, Bruyette & Woods upped their price objective on shares of Republic First Bancorp from $4.25 to $4.50 and gave the stock a “market perform” rating in a report on Monday, August 1st.
Shares of Republic First Bancorp (NASDAQ:FRBK) remained flat at $4.10 during trading on Friday. 10,300 shares of the company’s stock were exchanged. The company’s 50-day moving average is $4.14 and its 200-day moving average is $4.33. The stock has a market cap of $155.46 million, a P/E ratio of 51.25 and a beta of 1.01. Republic First Bancorp has a 12-month low of $3.57 and a 12-month high of $4.84.
Republic First Bancorp (NASDAQ:FRBK) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.03 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.03. Republic First Bancorp had a net margin of 5.66% and a return on equity of 3.01%. Equities research analysts predict that Republic First Bancorp will post $0.10 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers purchased a new stake in Republic First Bancorp during the second quarter worth approximately $103,000. Schwab Charles Investment Management Inc. purchased a new stake in Republic First Bancorp during the second quarter worth approximately $227,000. Teachers Advisors Inc. purchased a new stake in Republic First Bancorp during the second quarter worth approximately $228,000. California State Teachers Retirement System purchased a new stake in Republic First Bancorp during the second quarter worth approximately $304,000. Finally, Bank of New York Mellon Corp boosted its stake in Republic First Bancorp by 248.6% in the second quarter. Bank of New York Mellon Corp now owns 92,974 shares of the company’s stock worth $402,000 after buying an additional 66,300 shares during the last quarter. Hedge funds and other institutional investors own 43.84% of the company’s stock.
Republic First Bancorp Company Profile
Republic First Bancorp, Inc is a holding company for Republic First Bank (the Bank), which does business under the name Republic Bank. The Company’s community banking segment encompasses the commercial loan and deposit activities of the Bank, as well as consumer loan products. It offers a range of banking products and services, including consumer and commercial deposit accounts, checking accounts, interest-bearing demand accounts, money market accounts, certificates of deposit, savings accounts, sweep accounts, lockbox services and individual retirement accounts, secured and unsecured commercial loans, real estate loans, construction and land development loans, automobile loans, home improvement loans, mortgages, home equity and overdraft lines of credit, and other products.
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