California State Teachers Retirement System Takes Position in Republic First Bancorp Inc. (FRBK)
California State Teachers Retirement System acquired a new position in shares of Republic First Bancorp Inc. (NASDAQ:FRBK) during the second quarter, Holdings Channel reports. The firm acquired 70,524 shares of the company’s stock, valued at approximately $304,000. California State Teachers Retirement System owned 0.19% of Republic First Bancorp at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. UBS Group AG raised its position in Republic First Bancorp by 33.3% in the first quarter. UBS Group AG now owns 429,812 shares of the company’s stock worth $1,810,000 after buying an additional 107,280 shares during the period. LGL Partners LLC purchased a new position in Republic First Bancorp during the first quarter worth $398,000. Bank of New York Mellon Corp raised its position 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 period. Finally, Ulysses Management LLC raised its position in Republic First Bancorp by 0.6% in the first quarter. Ulysses Management LLC now owns 1,590,100 shares of the company’s stock worth $6,694,000 after buying an additional 10,000 shares during the period. Hedge funds and other institutional investors own 43.89% of the company’s stock.
Shares of Republic First Bancorp Inc. (NASDAQ:FRBK) traded down 1.23% during midday trading on Tuesday, hitting $4.00. 25,447 shares of the company’s stock traded hands. The stock has a market cap of $151.67 million, a P/E ratio of 50.00 and a beta of 1.01. Republic First Bancorp Inc. has a 52 week low of $3.75 and a 52 week high of $4.84. The company has a 50 day moving average of $4.12 and a 200 day moving average of $4.32.
Republic First Bancorp (NASDAQ:FRBK) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. Republic First Bancorp had a return on equity of 3.01% and a net margin of 5.66%. On average, equities analysts forecast that Republic First Bancorp Inc. will post $0.10 EPS for the current fiscal year.
Several equities research analysts have commented on the stock. TheStreet lowered shares of Republic First Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. Keefe, Bruyette & Woods boosted their target price on shares of Republic First Bancorp from $4.25 to $4.50 and gave the stock a “market perform” rating in a research report on Monday, August 1st.
About Republic First Bancorp
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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