Republic First Bancorp, Inc. (NASDAQ:FRBK) – Analysts at Piper Sandler dropped their Q2 2021 earnings per share (EPS) estimates for Republic First Bancorp in a report issued on Monday, March 23rd. Piper Sandler analyst F. Schiraldi now anticipates that the bank will post earnings of $0.00 per share for the quarter, down from their previous forecast of $0.01. Piper Sandler also issued estimates for Republic First Bancorp’s Q3 2021 earnings at $0.01 EPS and FY2021 earnings at $0.01 EPS.
Shares of FRBK opened at $2.39 on Thursday. The firm has a market cap of $128.29 million, a price-to-earnings ratio of -47.79 and a beta of 0.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.64 and a current ratio of 0.64. Republic First Bancorp has a fifty-two week low of $1.94 and a fifty-two week high of $5.91. The firm has a 50 day moving average price of $2.89 and a 200-day moving average price of $3.75.
Republic First Bancorp (NASDAQ:FRBK) last announced its earnings results on Tuesday, January 28th. The bank reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The company had revenue of $25.13 million for the quarter. Republic First Bancorp had a negative net margin of 2.72% and a negative return on equity of 1.40%.
In other Republic First Bancorp news, Director Vernon W. Hill II acquired 16,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was purchased at an average cost of $3.00 per share, for a total transaction of $48,000.00. Following the acquisition, the director now owns 2,123,150 shares in the company, valued at approximately $6,369,450. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Vernon W. Hill II acquired 84,000 shares of the stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $3.00 per share, with a total value of $252,000.00. Following the completion of the acquisition, the director now owns 2,123,150 shares in the company, valued at approximately $6,369,450. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 104,575 shares of company stock valued at $313,725. Company insiders own 13.10% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of Republic First Bancorp in the fourth quarter worth $50,000. Citigroup Inc. increased its stake in shares of Republic First Bancorp by 63.3% in the fourth quarter. Citigroup Inc. now owns 14,165 shares of the bank’s stock worth $59,000 after buying an additional 5,490 shares during the period. Spark Investment Management LLC purchased a new position in shares of Republic First Bancorp in the fourth quarter worth $86,000. Russell Investments Group Ltd. purchased a new position in shares of Republic First Bancorp in the fourth quarter worth $92,000. Finally, Quaker Wealth Management LLC purchased a new position in shares of Republic First Bancorp in the fourth quarter worth $198,000. 66.79% of the stock is currently owned by institutional investors.
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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