Oppenheimer Asset Management Inc. boosted its holdings in Republic First Bancorp, Inc. (NASDAQ:FRBK) by 72.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,207 shares of the bank’s stock after buying an additional 10,192 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Republic First Bancorp were worth $173,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new stake in Republic First Bancorp in the second quarter valued at about $44,007,000. BlackRock Inc. boosted its stake in Republic First Bancorp by 1.7% in the second quarter. BlackRock Inc. now owns 2,690,712 shares of the bank’s stock valued at $21,123,000 after buying an additional 43,820 shares in the last quarter. Wasatch Advisors Inc. boosted its stake in Republic First Bancorp by 362.3% in the second quarter. Wasatch Advisors Inc. now owns 2,184,519 shares of the bank’s stock valued at $17,148,000 after buying an additional 1,712,000 shares in the last quarter. FMR LLC boosted its stake in Republic First Bancorp by 2.4% in the second quarter. FMR LLC now owns 1,694,000 shares of the bank’s stock valued at $13,298,000 after buying an additional 40,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Republic First Bancorp by 19.8% in the second quarter. Dimensional Fund Advisors LP now owns 619,292 shares of the bank’s stock valued at $4,861,000 after buying an additional 102,274 shares in the last quarter. 60.51% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Theodore J. Flocco, Jr. purchased 10,000 shares of the business’s stock in a transaction dated Thursday, November 1st. The shares were purchased at an average cost of $6.79 per share, with a total value of $67,900.00. Following the completion of the purchase, the director now owns 40,000 shares of the company’s stock, valued at approximately $271,600. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 12.80% of the company’s stock.
NASDAQ:FRBK opened at $6.73 on Friday. The stock has a market capitalization of $407.79 million, a P/E ratio of 63.09 and a beta of 0.86. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.05. Republic First Bancorp, Inc. has a twelve month low of $6.41 and a twelve month high of $9.75.
Republic First Bancorp (NASDAQ:FRBK) last released its quarterly earnings data on Thursday, October 25th. The bank reported $0.04 earnings per share for the quarter, missing the consensus estimate 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%.
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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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