Wells Fargo & Company MN trimmed its position in Republic First Bancorp, Inc. (NASDAQ:FRBK) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 129,860 shares of the bank’s stock after selling 7,059 shares during the quarter. Wells Fargo & Company MN’s holdings in Republic First Bancorp were worth $370,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Conservest Capital Advisors Inc. grew its holdings in shares of Republic First Bancorp by 114.4% during the fourth quarter. Conservest Capital Advisors Inc. now owns 160,523 shares of the bank’s stock valued at $457,000 after buying an additional 85,648 shares during the last quarter. Pendal Group Limited raised its stake in shares of Republic First Bancorp by 75.9% during the 4th quarter. Pendal Group Limited now owns 43,384 shares of the bank’s stock worth $124,000 after purchasing an additional 18,715 shares during the period. Citadel Investment Advisory Inc. bought a new stake in Republic First Bancorp in the fourth quarter worth about $1,069,000. SG Americas Securities LLC purchased a new stake in shares of Republic First Bancorp during the 4th quarter worth approximately $35,000. Finally, BlackRock Inc. increased its position in Republic First Bancorp by 8.6% in the fourth quarter. BlackRock Inc. now owns 7,836,367 shares of the bank’s stock worth $22,333,000 after buying an additional 618,381 shares during the last quarter. Hedge funds and other institutional investors own 64.29% of the company’s stock.
Shares of FRBK opened at $3.72 on Friday. Republic First Bancorp, Inc. has a 1-year low of $1.80 and a 1-year high of $4.19. The company has a market capitalization of $218.99 million, a P/E ratio of -124.00 and a beta of 1.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.79 and a quick ratio of 0.78. The firm’s 50 day simple moving average is $3.81 and its 200 day simple moving average is $3.05.
FRBK has been the topic of several research reports. Zacks Investment Research lowered shares of Republic First Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, March 29th. TheStreet raised shares of Republic First Bancorp from a “d” rating to a “c-” rating in a research note on Monday, January 25th.
Republic First Bancorp 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. It accepts 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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