Republic First Bancorp (FRBK) Rating Reiterated by Sandler O’Neill

Republic First Bancorp (NASDAQ:FRBK)‘s stock had its “hold” rating reaffirmed by investment analysts at Sandler O’Neill in a note issued to investors on Thursday. They currently have a $9.50 target price on the bank’s stock. Sandler O’Neill’s price target would indicate a potential upside of 7.04% from the stock’s current price.

FRBK has been the subject of several other research reports. BidaskClub cut Republic First Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $9.00 price target on shares of Republic First Bancorp in a research note on Tuesday, October 3rd.

Shares of Republic First Bancorp (NASDAQ:FRBK) traded down $0.12 during mid-day trading on Thursday, hitting $8.88. The stock had a trading volume of 180,869 shares, compared to its average volume of 136,377. The firm has a market capitalization of $512.91, a PE ratio of 55.47 and a beta of 1.05. The company has a current ratio of 0.65, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10. Republic First Bancorp has a 12 month low of $7.40 and a 12 month high of $9.90.

Republic First Bancorp (NASDAQ:FRBK) last issued its quarterly earnings results on Monday, January 22nd. The bank reported $0.00 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.04). The company had revenue of $21.88 million during the quarter. Republic First Bancorp had a net margin of 9.79% and a return on equity of 2.71%.

Institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in shares of Republic First Bancorp by 56.2% during the 2nd quarter. Wells Fargo & Company MN now owns 82,618 shares of the bank’s stock valued at $764,000 after purchasing an additional 29,718 shares in the last quarter. Alliancebernstein L.P. bought a new stake in shares of Republic First Bancorp during the 2nd quarter valued at about $313,000. FMR LLC bought a new stake in shares of Republic First Bancorp during the 2nd quarter valued at about $15,153,000. Swiss National Bank bought a new stake in shares of Republic First Bancorp during the 2nd quarter valued at about $701,000. Finally, Vanguard Group Inc. boosted its position in shares of Republic First Bancorp by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 2,013,322 shares of the bank’s stock valued at $18,624,000 after purchasing an additional 97,585 shares in the last quarter. Institutional investors own 54.33% 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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