Short Interest in Republic First Bancorp, Inc. (NASDAQ:FRBK) Declines By 8.7%

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Republic First Bancorp, Inc. (NASDAQ:FRBK) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 1,681,900 shares, a decline of 8.7% from the July 31st total of 1,841,900 shares. Approximately 3.8% of the company’s stock are short sold. Based on an average trading volume of 170,800 shares, the days-to-cover ratio is currently 9.8 days.

FRBK traded up $0.04 on Friday, hitting $4.47. The company had a trading volume of 138,200 shares, compared to its average volume of 191,480. The stock has a fifty day moving average price of $4.14 and a 200-day moving average price of $4.95. Republic First Bancorp has a 12-month low of $3.86 and a 12-month high of $7.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.63 and a current ratio of 0.64. The stock has a market capitalization of $260.67 million, a price-to-earnings ratio of 44.30 and a beta of 0.90.

Republic First Bancorp (NASDAQ:FRBK) last posted its earnings results on Monday, July 29th. The bank reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). Republic First Bancorp had a net margin of 4.31% and a return on equity of 2.16%. The company had revenue of $26.40 million during the quarter.

Separately, BidaskClub upgraded Republic First Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday.

A number of institutional investors and hedge funds have recently bought and sold shares of FRBK. Advisor Group Inc. purchased a new position in Republic First Bancorp in the second quarter valued at about $27,000. Cordasco Financial Network purchased a new stake in shares of Republic First Bancorp during the second quarter worth about $28,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Republic First Bancorp by 663.9% during the first quarter. BNP Paribas Arbitrage SA now owns 9,167 shares of the bank’s stock worth $48,000 after purchasing an additional 7,967 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Republic First Bancorp during the first quarter worth about $68,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Republic First Bancorp during the second quarter worth about $81,000. Institutional investors own 58.55% of the company’s stock.

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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