Republic First Bancorp, Inc. (NASDAQ:FRBK) shares shot up 5.2% during trading on Wednesday . The company traded as high as $4.43 and last traded at $4.43, 166,500 shares were traded during trading. An increase of 15% from the average session volume of 144,733 shares. The stock had previously closed at $4.21.
Separately, BidaskClub downgraded Republic First Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, July 26th.
The company has a debt-to-equity ratio of 0.33, a current ratio of 0.64 and a quick ratio of 0.63. The stock has a market cap of $242.43 million, a price-to-earnings ratio of 41.20 and a beta of 0.90. The stock has a fifty day moving average of $4.14 and a 200 day moving average of $4.96.
A number of hedge funds and other institutional investors have recently made changes to their positions in FRBK. Advisor Group Inc. acquired a new stake in shares of Republic First Bancorp during the 2nd quarter worth approximately $27,000. Cordasco Financial Network acquired a new position in shares of Republic First Bancorp in the 2nd quarter valued at $28,000. BNP Paribas Arbitrage SA lifted its stake in shares of Republic First Bancorp by 663.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,167 shares of the bank’s stock valued at $48,000 after purchasing an additional 7,967 shares during the period. SG Americas Securities LLC purchased a new stake in Republic First Bancorp during the first quarter worth $68,000. Finally, Susquehanna International Group LLP purchased a new stake in Republic First Bancorp during the second quarter worth $81,000. Institutional investors and hedge funds own 58.55% of the company’s stock.
About Republic First Bancorp (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.
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