Gruss & Co. Inc. raised its position in shares of Republic First Bancorp, Inc. (NASDAQ:FRBK) by 3.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 361,397 shares of the bank’s stock after acquiring an additional 11,481 shares during the quarter. Republic First Bancorp makes up approximately 3.1% of Gruss & Co. Inc.’s holdings, making the stock its 12th largest position. Gruss & Co. Inc. owned 0.62% of Republic First Bancorp worth $3,144,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its holdings in Republic First Bancorp by 21.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 98,584 shares of the bank’s stock worth $834,000 after acquiring an additional 17,184 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Republic First Bancorp in the 4th quarter worth approximately $132,000. Wells Fargo & Company MN raised its holdings in Republic First Bancorp by 17.7% in the 4th quarter. Wells Fargo & Company MN now owns 83,593 shares of the bank’s stock worth $706,000 after acquiring an additional 12,555 shares during the last quarter. BlackRock Inc. raised its stake in Republic First Bancorp by 4.1% during the 4th quarter. BlackRock Inc. now owns 2,678,058 shares of the bank’s stock valued at $22,629,000 after buying an additional 105,888 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Republic First Bancorp by 7.0% during the 4th quarter. Renaissance Technologies LLC now owns 133,000 shares of the bank’s stock valued at $1,124,000 after buying an additional 8,700 shares during the last quarter. 52.42% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub upgraded shares of Republic First Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 19th.
NASDAQ:FRBK opened at $8.25 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.59 and a debt-to-equity ratio of 0.05. Republic First Bancorp, Inc. has a one year low of $8.00 and a one year high of $9.80. The firm has a market capitalization of $481.73 million, a PE ratio of 74.54 and a beta of 0.89.
Republic First Bancorp (NASDAQ:FRBK) last issued its quarterly earnings results on Monday, April 23rd. The bank reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Republic First Bancorp had a return on equity of 2.64% and a net margin of 9.28%. The firm had revenue of $22.65 million during the quarter.
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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