Republic First Bancorp (NASDAQ:FRBK) Downgraded by BidaskClub

BidaskClub cut shares of Republic First Bancorp (NASDAQ:FRBK) from a hold rating to a sell rating in a research note issued to investors on Wednesday, June 13th.

Shares of Republic First Bancorp opened at $8.25 on Wednesday, according to Marketbeat.com. The company has a market capitalization of $487.60 million, a price-to-earnings ratio of 75.46 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.58 and a current ratio of 0.59. Republic First Bancorp has a 52-week low of $8.00 and a 52-week high of $9.80.

Republic First Bancorp (NASDAQ:FRBK) last announced its earnings results on Monday, April 23rd. The bank reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $22.65 million for the quarter. Republic First Bancorp had a return on equity of 2.64% and a net margin of 9.28%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Republic First Bancorp by 4.1% during the fourth quarter. BlackRock Inc. now owns 2,678,058 shares of the bank’s stock worth $22,629,000 after acquiring an additional 105,888 shares during the period. HBK Sorce Advisory LLC purchased a new stake in shares of Republic First Bancorp during the fourth quarter worth $5,123,000. Wasatch Advisors Inc. purchased a new stake in shares of Republic First Bancorp during the first quarter worth $4,111,000. FSI Group LLC increased its position in shares of Republic First Bancorp by 4.4% during the first quarter. FSI Group LLC now owns 380,088 shares of the bank’s stock worth $3,307,000 after acquiring an additional 16,045 shares during the period. Finally, Gruss & Co. Inc. increased its position in shares of Republic First Bancorp by 3.3% during the first quarter. Gruss & Co. Inc. now owns 361,397 shares of the bank’s stock worth $3,144,000 after acquiring an additional 11,481 shares during the period. 52.42% of the stock is currently owned by institutional investors.

Republic First Bancorp Company Profile

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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