Zacks: Brokerages Set $4.75 Target Price for Republic First Bancorp Inc. (FRBK)
Shares of Republic First Bancorp Inc. (NASDAQ:FRBK) have been given a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation.
Analysts have set a 12 month consensus target price of $4.75 for the company, according to Zacks. Zacks has also assigned Republic First Bancorp an industry rank of 155 out of 265 based on the ratings given to related companies.
Several equities analysts have weighed in on FRBK shares. Keefe, Bruyette & Woods lifted their target price on Republic First Bancorp from $4.25 to $4.50 and gave the company a “market perform” rating in a research note on Monday, August 1st. TheStreet cut Republic First Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, October 7th.
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Shares of Republic First Bancorp (NASDAQ:FRBK) traded up 0.49% during mid-day trading on Monday, reaching $4.10. 12,404 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $4.12 and a 200-day moving average price of $4.32. The company has a market capitalization of $155.46 million, a P/E ratio of 51.25 and a beta of 1.01. Republic First Bancorp has a 1-year low of $3.75 and a 1-year high of $4.84.
Republic First Bancorp (NASDAQ:FRBK) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.03 earnings per share for the quarter, hitting the Zacks’ 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 research analysts forecast that Republic First Bancorp will post $0.10 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. UBS Group AG raised its stake in shares of Republic First Bancorp by 33.3% in the first quarter. UBS Group AG now owns 429,812 shares of the company’s stock valued at $1,810,000 after buying an additional 107,280 shares in the last quarter. LGL Partners LLC purchased a new stake in shares of Republic First Bancorp during the first quarter valued at about $398,000. Ulysses Management LLC raised its stake in shares of Republic First Bancorp by 0.6% in the first quarter. Ulysses Management LLC now owns 1,590,100 shares of the company’s stock valued at $6,694,000 after buying an additional 10,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Republic First Bancorp by 248.6% in the second quarter. Bank of New York Mellon Corp now owns 92,974 shares of the company’s stock valued at $402,000 after buying an additional 66,300 shares in the last quarter. Finally, California State Teachers Retirement System purchased a new stake in shares of Republic First Bancorp during the second quarter valued at about $304,000. Institutional investors and hedge funds own 43.89% of the company’s stock.
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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