Republic First Bancorp (FRBK) Lowered to “C+” at TheStreet

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TheStreet downgraded shares of Republic First Bancorp (NASDAQ:FRBK) from a b rating to a c+ rating in a research note published on Monday morning.

Separately, BidaskClub cut Republic First Bancorp from a sell rating to a strong sell rating in a research report on Wednesday, July 11th.

Republic First Bancorp stock opened at $7.80 on Monday. The company has a market capitalization of $443.64 million, a PE ratio of 68.64 and a beta of 0.73. Republic First Bancorp has a 12 month low of $7.45 and a 12 month high of $9.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.62 and a quick ratio of 0.60.

Republic First Bancorp (NASDAQ:FRBK) last posted its quarterly earnings data on Thursday, July 26th. The bank reported $0.04 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.04. The business had revenue of $24.43 million during the quarter. Republic First Bancorp had a return on equity of 2.74% and a net margin of 9.06%.

Several institutional investors and hedge funds have recently modified their holdings of FRBK. Point72 Asset Management L.P. purchased a new stake in shares of Republic First Bancorp during the second quarter worth approximately $44,007,000. Wasatch Advisors Inc. increased its position in shares of Republic First Bancorp by 362.3% during the second quarter. Wasatch Advisors Inc. now owns 2,184,519 shares of the bank’s stock worth $17,148,000 after purchasing an additional 1,712,000 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Republic First Bancorp during the second quarter worth approximately $1,415,000. Renaissance Technologies LLC increased its position in shares of Republic First Bancorp by 152.6% during the second quarter. Renaissance Technologies LLC now owns 243,009 shares of the bank’s stock worth $1,908,000 after purchasing an additional 146,809 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Republic First Bancorp by 19.8% during the second quarter. Dimensional Fund Advisors LP now owns 619,292 shares of the bank’s stock worth $4,861,000 after purchasing an additional 102,274 shares in the last quarter. Hedge funds and other institutional investors own 52.13% of the company’s stock.

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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