Republic First Bancorp (FRBK) Rating Lowered to Strong Sell at BidaskClub
BidaskClub cut shares of Republic First Bancorp (NASDAQ:FRBK) from a sell rating to a strong sell rating in a research report report published on Saturday morning.
Several other brokerages have also recently issued reports on FRBK. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $9.00 price objective on shares of Republic First Bancorp in a research note on Tuesday, October 3rd. Sandler O’Neill set a $9.00 price objective on shares of Republic First Bancorp and gave the company a hold rating in a research note on Wednesday.
Republic First Bancorp (NASDAQ:FRBK) traded up $0.05 during mid-day trading on Friday, hitting $8.55. 56,016 shares of the stock were exchanged, compared to its average volume of 105,893. The stock has a market capitalization of $487.26, a PE ratio of 61.07 and a beta of 1.05. The company has a quick ratio of 0.63, a current ratio of 0.65 and a debt-to-equity ratio of 0.10. Republic First Bancorp has a twelve month low of $7.40 and a twelve month high of $9.90.
A number of hedge funds and other institutional investors have recently made changes to their positions in FRBK. FMR LLC purchased a new stake in Republic First Bancorp during the 2nd quarter valued at about $15,153,000. Capital World Investors grew its stake in Republic First Bancorp by 150.6% during the 2nd quarter. Capital World Investors now owns 2,329,000 shares of the bank’s stock valued at $21,543,000 after acquiring an additional 1,399,457 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Republic First Bancorp during the 2nd quarter valued at about $1,490,000. Ameriprise Financial Inc. purchased a new stake in Republic First Bancorp during the 2nd quarter valued at about $1,152,000. Finally, State Street Corp grew its stake in Republic First Bancorp by 13.4% during the 2nd quarter. State Street Corp now owns 883,908 shares of the bank’s stock valued at $8,178,000 after acquiring an additional 104,693 shares in the last quarter. 54.31% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “Republic First Bancorp (FRBK) Rating Lowered to Strong Sell at BidaskClub” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this report can be read at https://www.dailypolitical.com/2018/01/07/republic-first-bancorp-frbk-rating-lowered-to-strong-sell-at-bidaskclub.html.
About Republic First Bancorp
Republic First Bancorp, Inc is a holding company for Republic First Bank (Republic or the Bank), which does business under the name Republic Bank. The Company’s community banking segment encompasses the commercial loan and deposit activities of Republic, as well as consumer loan products in the areas surrounding its store network.
Receive News & Ratings for Republic First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.