BidaskClub Upgrades Republic First Bancorp (FRBK) to “Sell”

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.

Republic First Bancorp (NASDAQ:FRBK) last announced its earnings results on Monday, October 23rd. The bank reported $0.04 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.04. The business had revenue of $21.49 million during the quarter. Republic First Bancorp had a net margin of 10.80% and a return on equity of 4.16%.

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.

ILLEGAL ACTIVITY WARNING: “BidaskClub Upgrades Republic First Bancorp (FRBK) to “Sell”” was originally published by American Banking News and is the property of of American Banking News. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2018/01/21/bidaskclub-upgrades-republic-first-bancorp-frbk-to-sell.html.

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.

Receive News & Ratings for Republic First Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic First Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply