Separately, Keefe, Bruyette & Woods increased their target price on shares of Republic First Bancorp from $4.25 to $4.50 and gave the stock a market perform rating in a report on Monday, August 1st.
Shares of Republic First Bancorp (NASDAQ:FRBK) remained flat at $4.10 on Friday. 10,300 shares of the company were exchanged. Republic First Bancorp has a 52 week low of $3.57 and a 52 week high of $4.84. The stock has a market cap of $155.46 million, a PE ratio of 51.25 and a beta of 1.01. The firm has a 50-day moving average of $4.14 and a 200 day moving average of $4.33.
Republic First Bancorp (NASDAQ:FRBK) last posted its earnings results on Thursday, July 28th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. Republic First Bancorp had a net margin of 5.66% and a return on equity of 3.01%. Analysts anticipate that Republic First Bancorp will post $0.10 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers acquired a new position in shares of Republic First Bancorp during the second quarter worth about $103,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Republic First Bancorp during the second quarter worth about $227,000. Teachers Advisors Inc. acquired a new position in shares of Republic First Bancorp during the second quarter worth about $228,000. California State Teachers Retirement System acquired a new position in shares of Republic First Bancorp during the second quarter worth about $304,000. Finally, LGL Partners LLC acquired a new position in shares of Republic First Bancorp during the first quarter worth about $398,000. Institutional investors and hedge funds own 43.84% of the company’s stock.
About Republic First Bancorp
Republic First Bancorp, Inc is a holding company for Republic First Bank (the Bank), which does business under the name Republic Bank. The Company’s community banking segment encompasses the commercial loan and deposit activities of the Bank, as well as consumer loan products. It offers a range of banking products and services, including consumer and commercial deposit accounts, checking accounts, interest-bearing demand accounts, money market accounts, certificates of deposit, savings accounts, sweep accounts, lockbox services and individual retirement accounts, secured and unsecured commercial loans, real estate loans, construction and land development loans, automobile loans, home improvement loans, mortgages, home equity and overdraft lines of credit, and other products.
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