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

BidaskClub cut shares of Republic First Bancorp (NASDAQ:FRBK) from a sell rating to a strong sell rating in a report published on Friday morning, BidAskClub reports.

Shares of FRBK opened at $4.98 on Friday. The firm has a market cap of $295.89 million, a PE ratio of 38.69 and a beta of 1.00. The company has a current ratio of 0.62, a quick ratio of 0.61 and a debt-to-equity ratio of 0.05. Republic First Bancorp has a one year low of $4.95 and a one year high of $9.30.

Republic First Bancorp (NASDAQ:FRBK) last announced its earnings results on Thursday, April 25th. The bank reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.03). Republic First Bancorp had a net margin of 6.19% and a return on equity of 3.05%. The firm had revenue of $24.17 million for the quarter.

In related news, COO Andrew J. Logue sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $6.42, for a total transaction of $64,200.00. Following the completion of the transaction, the chief operating officer now owns 35,000 shares of the company’s stock, valued at $224,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Schaller Investment Group Inc. boosted its stake in Republic First Bancorp by 0.3% during the fourth quarter. Schaller Investment Group Inc. now owns 3,797,385 shares of the bank’s stock valued at $22,670,000 after buying an additional 10,500 shares in the last quarter. BlackRock Inc. boosted its stake in Republic First Bancorp by 1.8% during the fourth quarter. BlackRock Inc. now owns 3,349,170 shares of the bank’s stock valued at $19,994,000 after buying an additional 58,035 shares in the last quarter. Vanguard Group Inc boosted its stake in Republic First Bancorp by 1.0% during the third quarter. Vanguard Group Inc now owns 2,222,304 shares of the bank’s stock valued at $15,890,000 after buying an additional 20,989 shares in the last quarter. Vanguard Group Inc. boosted its stake in Republic First Bancorp by 1.0% during the third quarter. Vanguard Group Inc. now owns 2,222,304 shares of the bank’s stock valued at $15,890,000 after buying an additional 20,989 shares in the last quarter. Finally, FMR LLC boosted its stake in Republic First Bancorp by 2.5% during the fourth quarter. FMR LLC now owns 1,736,900 shares of the bank’s stock valued at $10,370,000 after buying an additional 41,600 shares in the last quarter. 59.10% of the stock is owned by institutional investors and hedge funds.

About Republic First Bancorp

Republic First Bancorp, Inc operates as the holding company for Republic First Bank that provides a range of credit and depository banking products and services to individuals and businesses primarily in Greater Philadelphia and Southern New Jersey. It offers consumer and commercial deposit, checking, interest-bearing demand, money market, savings, sweep, and individual retirement accounts, as well as certificates of deposit.

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