FSI Group LLC boosted its stake in Republic First Bancorp, Inc. (NASDAQ:FRBK) by 8.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 432,828 shares of the bank’s stock after buying an additional 32,168 shares during the quarter. Republic First Bancorp makes up 2.2% of FSI Group LLC’s investment portfolio, making the stock its 16th largest holding. FSI Group LLC owned 0.74% of Republic First Bancorp worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC grew its stake in Republic First Bancorp by 69.1% in the 2nd quarter. MetLife Investment Advisors LLC now owns 22,031 shares of the bank’s stock valued at $173,000 after purchasing an additional 9,002 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Republic First Bancorp by 72.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 24,207 shares of the bank’s stock valued at $173,000 after purchasing an additional 10,192 shares during the period. Trexquant Investment LP bought a new position in Republic First Bancorp in the 2nd quarter valued at $100,000. ProVise Management Group LLC bought a new position in Republic First Bancorp in the 2nd quarter valued at $106,000. Finally, Swiss National Bank grew its stake in Republic First Bancorp by 17.8% in the 2nd quarter. Swiss National Bank now owns 89,300 shares of the bank’s stock valued at $701,000 after purchasing an additional 13,500 shares during the period. 60.51% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:FRBK opened at $6.90 on Friday. The firm has a market capitalization of $406.03 million, a price-to-earnings ratio of 62.82 and a beta of 0.86. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 0.05. Republic First Bancorp, Inc. has a 1 year low of $6.41 and a 1 year high of $9.75.
Republic First Bancorp (NASDAQ:FRBK) last announced its quarterly earnings data on Thursday, October 25th. The bank reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $24.28 million during the quarter. Republic First Bancorp had a net margin of 8.64% and a return on equity of 2.72%.
A number of research analysts have issued reports on FRBK shares. TheStreet downgraded Republic First Bancorp from a “b” rating to a “c+” rating in a research note on Monday, August 20th. BidaskClub upgraded Republic First Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 11th.
In other Republic First Bancorp news, Director Theodore J. Flocco, Jr. acquired 10,000 shares of Republic First Bancorp stock in a transaction on Thursday, November 1st. The stock was purchased at an average price of $6.79 per share, for a total transaction of $67,900.00. Following the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at $271,600. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.80% of the stock is owned by corporate insiders.
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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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