Republic First Bancorp, Inc. (FRBK) Shares Bought by State Street Corp
State Street Corp grew its position in Republic First Bancorp, Inc. (NASDAQ:FRBK) by 13.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 883,908 shares of the bank’s stock after acquiring an additional 104,693 shares during the quarter. State Street Corp owned approximately 1.55% of Republic First Bancorp worth $8,178,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc grew its stake in Republic First Bancorp by 0.8% during the 1st quarter. Legal & General Group Plc now owns 13,150 shares of the bank’s stock worth $109,000 after buying an additional 98 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in Republic First Bancorp by 1.7% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,406 shares of the bank’s stock worth $180,000 after buying an additional 328 shares during the last quarter. Palisades Hudson Asset Management L.P. bought a new position in Republic First Bancorp during the 2nd quarter worth $194,000. Voya Investment Management LLC grew its stake in Republic First Bancorp by 80.2% during the 2nd quarter. Voya Investment Management LLC now owns 21,942 shares of the bank’s stock worth $203,000 after buying an additional 9,763 shares during the last quarter. Finally, Private Advisor Group LLC grew its stake in Republic First Bancorp by 54.0% during the 2nd quarter. Private Advisor Group LLC now owns 29,838 shares of the bank’s stock worth $282,000 after buying an additional 10,460 shares during the last quarter. Institutional investors and hedge funds own 54.31% of the company’s stock.
Republic First Bancorp, Inc. (FRBK) opened at $9.60 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.63 and a current ratio of 0.65. Republic First Bancorp, Inc. has a 12-month low of $5.00 and a 12-month high of $9.90. The stock has a market capitalization of $535.70, a price-to-earnings ratio of 67.14 and a beta of 1.06.
Republic First Bancorp (NASDAQ:FRBK) last announced its quarterly earnings results on Monday, October 23rd. The bank reported $0.04 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.04. Republic First Bancorp had a return on equity of 3.48% and a net margin of 8.97%. The company had revenue of $21.49 million during the quarter.
A number of research analysts recently commented on the company. BidaskClub downgraded Republic First Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Keefe, Bruyette & Woods restated a “hold” rating and set a $9.00 price objective on shares of Republic First Bancorp in a research note on Tuesday, October 3rd.
Republic First Bancorp Profile
Republic First Bancorp, Inc is a holding company for Republic First Bank (Republic or the Bank), which does business under the name Republic Bank. The Company’s community banking segment encompasses the commercial loan and deposit activities of Republic, as well as consumer loan products in the areas surrounding its store network.
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