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 to investors on Friday.
Separately, Keefe, Bruyette & Woods raised their target price on 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.
Republic First Bancorp (NASDAQ:FRBK) remained flat at $4.10 during midday trading on Friday. 10,300 shares of the company traded hands. The firm’s 50 day moving average price is $4.14 and its 200 day moving average price is $4.33. The company 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 52-week low of $3.57 and a 52-week high of $4.84.
Republic First Bancorp (NASDAQ:FRBK) last posted its earnings results on Thursday, July 28th. The company reported $0.03 EPS for the quarter, hitting 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 will post $0.10 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. acquired a new position in shares of Republic First Bancorp during the second quarter valued at about $227,000. State Street Corp increased its position in shares of Republic First Bancorp by 2,131.6% in the second quarter. State Street Corp now owns 275,579 shares of the company’s stock valued at $1,186,000 after buying an additional 263,230 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Republic First Bancorp during the second quarter valued at about $103,000. Teachers Advisors Inc. acquired a new position in shares of Republic First Bancorp during the second quarter valued at about $228,000. Finally, BlackRock Institutional Trust Company N.A. acquired a new position in shares of Republic First Bancorp during the second quarter valued at about $1,018,000. 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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