Republic First Bancorp (FRBK) Lowered to “Strong Sell” at BidaskClub

Republic First Bancorp (NASDAQ:FRBK) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Wednesday.

Other analysts also recently issued reports about the company. Sandler O’Neill restated a “hold” rating and issued a $9.50 price target on shares of Republic First Bancorp in a research note on Thursday, January 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $9.00 price target on shares of Republic First Bancorp in a research note on Tuesday, October 3rd.

Republic First Bancorp (NASDAQ:FRBK) remained flat at $$8.85 on Wednesday. 56,222 shares of the company’s stock were exchanged, compared to its average volume of 130,920. The firm has a market capitalization of $501.51, a P/E ratio of 55.32 and a beta of 1.05. Republic First Bancorp has a 52-week low of $7.40 and a 52-week high of $9.90. 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 (NASDAQ:FRBK) last released its quarterly earnings results on Monday, January 22nd. The bank reported $0.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.04). The firm 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%.

Several large investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC lifted its position in shares of Republic First Bancorp by 1.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,406 shares of the bank’s stock valued at $180,000 after acquiring an additional 328 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Republic First Bancorp by 2.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 81,400 shares of the bank’s stock valued at $753,000 after acquiring an additional 2,300 shares during the period. Northern Trust Corp lifted its position in shares of Republic First Bancorp by 1.1% during the 2nd quarter. Northern Trust Corp now owns 593,568 shares of the bank’s stock valued at $5,491,000 after acquiring an additional 6,331 shares during the period. Voya Investment Management LLC lifted its position in shares of Republic First Bancorp by 80.2% during the 2nd quarter. Voya Investment Management LLC now owns 21,942 shares of the bank’s stock valued at $203,000 after acquiring an additional 9,763 shares during the period. Finally, Citadel Advisors LLC bought a new stake in shares of Republic First Bancorp during the 3rd quarter valued at $113,000. Hedge funds and other institutional investors own 54.36% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Republic First Bancorp (FRBK) Lowered to “Strong Sell” at BidaskClub” was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece on another website, it was illegally stolen and republished in violation of US & international copyright & trademark laws. The legal version of this piece can be read at https://www.americanbankingnews.com/2018/01/31/republic-first-bancorp-frbk-lowered-to-strong-sell-at-bidaskclub.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