Republic First Bancorp (NASDAQ:FRBK) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Republic First Bancorp (NASDAQ:FRBK) from a sell rating to a hold rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “REPUBLIC FST BC is a two-bank holding company. Its wholly-owned subsidiaries, FirstRepublic Bank, and Republic First Bank of Delaware, offer banking services to individuals and businesses throughout the Greater Philadelphia, Delaware and South Jersey area. They provide banking services through the Banks and do not presently engage in any activities other than these bankinga ctivities. “

Shares of FRBK stock opened at $3.10 on Wednesday. The firm has a market cap of $182.55 million, a P/E ratio of 15.50 and a beta of 1.36. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.72 and a quick ratio of 0.72. Republic First Bancorp has a 1-year low of $1.96 and a 1-year high of $4.61. The firm has a fifty day moving average of $3.44 and a two-hundred day moving average of $3.78.

Republic First Bancorp (NASDAQ:FRBK) last announced its quarterly earnings data on Thursday, July 22nd. The bank reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.01. Republic First Bancorp had a net margin of 9.43% and a return on equity of 6.41%. The company had revenue of $38.32 million during the quarter, compared to analyst estimates of $40.43 million. On average, sell-side analysts expect that Republic First Bancorp will post 0.28 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of FRBK. Diversified Trust Co acquired a new position in shares of Republic First Bancorp in the 1st quarter valued at about $40,000. Occudo Quantitative Strategies LP acquired a new position in shares of Republic First Bancorp in the 2nd quarter valued at about $50,000. Colony Group LLC acquired a new position in shares of Republic First Bancorp in the 1st quarter valued at about $54,000. Financial Architects Inc boosted its holdings in shares of Republic First Bancorp by 34.8% in the 1st quarter. Financial Architects Inc now owns 15,500 shares of the bank’s stock valued at $58,000 after buying an additional 4,000 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Republic First Bancorp by 88.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 22,347 shares of the bank’s stock valued at $84,000 after buying an additional 10,503 shares during the period. 69.35% of the stock is owned by institutional investors and hedge funds.

About Republic First Bancorp

Republic First Bancorp, Inc is a bank holding company, which engages in the provision of a variety of credit and depository banking services, through its subsidiary. It offers checking; savings; cash management; commercial, small business administration, and commercial real estate loans; mortgages; credit, debit, and gift cards; online and mobile banking; merchant services; and mobile deposit services.

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