Republic First Bancorp (NASDAQ:FRBK) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.
A number of other equities analysts also recently commented on FRBK. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $9.00 target price on shares of Republic First Bancorp in a report on Tuesday, October 3rd. Sandler O’Neill set a $9.00 target price on shares of Republic First Bancorp and gave the stock a “hold” rating in a report on Wednesday, January 3rd.
Republic First Bancorp (FRBK) remained flat at $$9.05 during mid-day trading on Friday. 302,998 shares of the stock traded hands, compared to its average volume of 112,043. The stock has a market capitalization of $515.76, a P/E ratio of 64.64 and a beta of 1.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.65 and a quick ratio of 0.63. Republic First Bancorp has a 1 year low of $7.40 and a 1 year high of $9.90.
Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in Republic First Bancorp by 56.2% in the second quarter. Wells Fargo & Company MN now owns 82,618 shares of the bank’s stock worth $764,000 after purchasing an additional 29,718 shares in the last quarter. Alliancebernstein L.P. acquired a new position in shares of Republic First Bancorp during the second quarter valued at about $313,000. FMR LLC acquired a new position in shares of Republic First Bancorp during the second quarter valued at about $15,153,000. Swiss National Bank acquired a new position in shares of Republic First Bancorp during the second quarter valued at about $701,000. Finally, Capital World Investors increased its holdings in shares of Republic First Bancorp by 150.6% during the second quarter. Capital World Investors now owns 2,329,000 shares of the bank’s stock valued at $21,543,000 after acquiring an additional 1,399,457 shares in the last quarter. Institutional investors and hedge funds own 54.31% of the company’s stock.
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Republic First Bancorp Company Profile
Republic First Bancorp, Inc is a holding company for Republic First Bank (Republic or the Bank), which does business under the name Republic Bank. The Company’s community banking segment encompasses the commercial loan and deposit activities of Republic, as well as consumer loan products in the areas surrounding its store network.
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