Republic First Bancorp Inc. (FRBK) Set to Announce Quarterly Earnings on Thursday
Republic First Bancorp Inc. (NASDAQ:FRBK) is scheduled to issue its quarterly earnings data on Thursday, October 20th. Analysts expect the company to announce earnings of $0.02 per share for the quarter.
Republic First Bancorp (NASDAQ:FRBK) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.03 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.03. Republic First Bancorp had a net margin of 5.66% and a return on equity of 3.01%. On average, analysts expect Republic First Bancorp to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Republic First Bancorp Inc. (NASDAQ:FRBK) opened at 4.05 on Tuesday. Republic First Bancorp Inc. has a 52-week low of $3.75 and a 52-week high of $4.84. The company’s 50-day moving average is $4.12 and its 200 day moving average is $4.32. The company has a market cap of $153.56 million, a price-to-earnings ratio of 50.63 and a beta of 1.01.
Several analysts recently weighed in on FRBK shares. TheStreet cut shares of Republic First Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 7th. Keefe, Bruyette & Woods lifted their price target on shares of Republic First Bancorp from $4.25 to $4.50 and gave the company a “market perform” rating in a report on Monday, August 1st.
Institutional investors have recently made changes to their positions in the stock. State Street Corp raised 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 in the last quarter. Rhumbline Advisers purchased a new position in shares of Republic First Bancorp during the second quarter valued at approximately $103,000. Teachers Advisors Inc. purchased a new position in shares of Republic First Bancorp during the second quarter valued at approximately $228,000. BlackRock Institutional Trust Company N.A. purchased a new position in shares of Republic First Bancorp during the second quarter valued at approximately $1,018,000. Finally, BlackRock Fund Advisors raised its position in shares of Republic First Bancorp by 1,028.1% in the second quarter. BlackRock Fund Advisors now owns 876,534 shares of the company’s stock valued at $3,778,000 after buying an additional 798,833 shares in the last quarter. 43.89% of the stock is owned by institutional investors and hedge funds.
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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