Basswood Capital Management L.L.C. decreased its holdings in shares of Republic First Bancorp, Inc. (NASDAQ:FRBK) by 28.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 460,937 shares of the bank’s stock after selling 185,109 shares during the quarter. Basswood Capital Management L.L.C. owned approximately 0.81% of Republic First Bancorp worth $3,895,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Parametric Portfolio Associates LLC lifted its stake in Republic First Bancorp by 1.7% during the second quarter. Parametric Portfolio Associates LLC now owns 19,406 shares of the bank’s stock worth $180,000 after purchasing an additional 328 shares during the last quarter. Northern Trust Corp lifted its stake in Republic First Bancorp by 1.1% during the second quarter. Northern Trust Corp now owns 593,568 shares of the bank’s stock worth $5,491,000 after purchasing an additional 6,331 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Republic First Bancorp by 7.0% during the fourth quarter. Renaissance Technologies LLC now owns 133,000 shares of the bank’s stock worth $1,124,000 after purchasing an additional 8,700 shares during the last quarter. Voya Investment Management LLC lifted its stake in Republic First Bancorp by 80.2% during the second quarter. Voya Investment Management LLC now owns 21,942 shares of the bank’s stock worth $203,000 after purchasing an additional 9,763 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Republic First Bancorp during the third quarter worth approximately $113,000. Hedge funds and other institutional investors own 54.69% of the company’s stock.
Shares of Republic First Bancorp, Inc. (NASDAQ:FRBK) opened at $8.70 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.65 and a debt-to-equity ratio of 0.10. Republic First Bancorp, Inc. has a 52 week low of $7.55 and a 52 week high of $9.90. The firm has a market capitalization of $496.05, a P/E ratio of 54.38 and a beta of 0.94.
Several research firms recently weighed in on FRBK. Sandler O’Neill set a $9.00 target price on Republic First Bancorp and gave the stock a “hold” rating in a research note on Wednesday, January 3rd. BidaskClub upgraded Republic First Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 6th.
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About Republic First Bancorp
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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