Phoenician Capital LLC lowered its stake in shares of Republic First Bancorp, Inc. (NASDAQ:FRBK) by 35.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 468,495 shares of the bank’s stock after selling 260,994 shares during the quarter. Republic First Bancorp comprises 2.0% of Phoenician Capital LLC’s holdings, making the stock its 13th largest holding. Phoenician Capital LLC’s holdings in Republic First Bancorp were worth $2,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Conservest Capital Advisors Inc. boosted its holdings in Republic First Bancorp by 1.3% in the fourth quarter. Conservest Capital Advisors Inc. now owns 155,356 shares of the bank’s stock worth $927,000 after acquiring an additional 2,000 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Republic First Bancorp by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 254,926 shares of the bank’s stock worth $1,522,000 after acquiring an additional 3,753 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Republic First Bancorp by 15.8% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 28,022 shares of the bank’s stock worth $167,000 after acquiring an additional 3,815 shares in the last quarter. FSI Group LLC boosted its holdings in Republic First Bancorp by 1.1% in the fourth quarter. FSI Group LLC now owns 437,394 shares of the bank’s stock worth $2,611,000 after acquiring an additional 4,566 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in Republic First Bancorp by 663.9% in the first quarter. BNP Paribas Arbitrage SA now owns 9,167 shares of the bank’s stock worth $48,000 after acquiring an additional 7,967 shares in the last quarter. 59.50% of the stock is currently owned by institutional investors.

Shares of NASDAQ FRBK opened at $5.01 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.62 and a quick ratio of 0.61. The stock has a market capitalization of $294.71 million, a price-to-earnings ratio of 38.54 and a beta of 1.02. Republic First Bancorp, Inc. has a fifty-two week low of $4.95 and a fifty-two week high of $9.30.

Republic First Bancorp (NASDAQ:FRBK) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). The business had revenue of $24.17 million during the quarter. Republic First Bancorp had a return on equity of 3.05% and a net margin of 6.19%.

In related news, COO Andrew J. Logue sold 10,000 shares of Republic First Bancorp stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $6.42, for a total transaction of $64,200.00. Following the completion of the sale, the chief operating officer now owns 35,000 shares of the company’s stock, valued at $224,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.10% of the company’s stock.

Separately, BidaskClub raised Republic First Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, April 5th.

WARNING: “Phoenician Capital LLC Sells 260,994 Shares of Republic First Bancorp, Inc. (FRBK)” was first posted by Daily Political and is the property of of Daily Political. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.dailypolitical.com/2019/04/29/phoenician-capital-llc-sells-260994-shares-of-republic-first-bancorp-inc-frbk.html.

Republic First Bancorp 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.

Featured Article: What are the qualifications of a portfolio manager?

Want to see what other hedge funds are holding FRBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic First Bancorp, Inc. (NASDAQ:FRBK).

Institutional Ownership by Quarter for Republic First Bancorp (NASDAQ:FRBK)

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.