TheStreet Upgrades Republic First Bancorp Inc. (FRBK) to Buy
Republic First Bancorp Inc. (NASDAQ:FRBK) was upgraded by equities researchers at TheStreet from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
Separately, Keefe, Bruyette & Woods upped 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 report on Monday, August 1st.
Republic First Bancorp (NASDAQ:FRBK) opened at 4.75 on Thursday. The stock has a market cap of $180.10 million, a P/E ratio of 43.18 and a beta of 1.15. The company has a 50-day moving average of $4.05 and a 200 day moving average of $4.25. Republic First Bancorp has a 1-year low of $3.70 and a 1-year high of $4.84.
Republic First Bancorp (NASDAQ:FRBK) last released its earnings results on Monday, October 24th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.01. Republic First Bancorp had a net margin of 5.47% and a return on equity of 3.62%. Analysts predict that Republic First Bancorp will post $0.11 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in shares of Republic First Bancorp by 22.3% in the third quarter. Rhumbline Advisers now owns 29,093 shares of the company’s stock valued at $120,000 after buying an additional 5,300 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new position in shares of Republic First Bancorp during the second quarter valued at $227,000. State Street Corp boosted 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. Teachers Advisors Inc. purchased a new position in shares of Republic First Bancorp during the second quarter valued at $228,000. Finally, BlackRock Institutional Trust Company N.A. purchased a new position in shares of Republic First Bancorp during the second quarter valued at $1,018,000. 43.89% of the stock is currently owned by hedge funds and other institutional investors.
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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