Republic First Bancorp (FRBK) Sets New 52-Week Low at $5.01

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Republic First Bancorp, Inc. (NASDAQ:FRBK)’s share price hit a new 52-week low on Thursday . The stock traded as low as $5.01 and last traded at $5.04, with a volume of 148733 shares trading hands. The stock had previously closed at $5.35.

Separately, BidaskClub cut Republic First Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, January 11th.

The company has a market cap of $318.24 million, a PE ratio of 36.07 and a beta of 1.02. The company has a quick ratio of 0.61, a current ratio of 0.62 and a debt-to-equity ratio of 0.05.

Republic First Bancorp (NASDAQ:FRBK) last announced its quarterly earnings data on Monday, January 28th. The bank reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.02). Republic First Bancorp had a net margin of 7.68% and a return on equity of 3.63%. The firm had revenue of $24.87 million during the quarter.

In related news, COO Andrew J. Logue sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $6.42, for a total value of $64,200.00. Following the sale, the chief operating officer now directly owns 35,000 shares in the company, valued at approximately $224,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its holdings in Republic First Bancorp by 663.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,167 shares of the bank’s stock valued at $48,000 after buying an additional 7,967 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Republic First Bancorp by 33.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 37,390 shares of the bank’s stock worth $196,000 after purchasing an additional 9,368 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Republic First Bancorp by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 555,018 shares of the bank’s stock worth $3,313,000 after purchasing an additional 25,517 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Republic First Bancorp by 18.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 953,395 shares of the bank’s stock worth $5,692,000 after purchasing an additional 145,523 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Republic First Bancorp by 2.5% during the fourth quarter. FMR LLC now owns 1,736,900 shares of the bank’s stock worth $10,370,000 after buying an additional 41,600 shares during the last quarter. Institutional investors and hedge funds own 59.50% of the company’s stock.

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Republic First Bancorp Company Profile (NASDAQ:FRBK)

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.

Further Reading: How does a reverse stock split work?

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