Republic First Bancorp (NASDAQ:FRBK) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Republic First Bancorp (NASDAQ:FRBK) in a research note released on Thursday morning. The brokerage issued a sell rating on the bank’s stock.

Republic First Bancorp Price Performance

NASDAQ:FRBK opened at $0.30 on Thursday. Republic First Bancorp has a 1-year low of $0.17 and a 1-year high of $3.30. The company has a 50-day moving average of $0.76 and a 200 day moving average of $1.14. The firm has a market cap of $21.05 million, a PE ratio of 1.35 and a beta of 0.82.

Hedge Funds Weigh In On Republic First Bancorp

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in Republic First Bancorp during the 2nd quarter valued at $39,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Republic First Bancorp during the 2nd quarter worth $100,000. Ergoteles LLC purchased a new stake in shares of Republic First Bancorp during the 2nd quarter worth $55,000. PNC Financial Services Group Inc. lifted its stake in shares of Republic First Bancorp by 6,050.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 615,000 shares of the bank’s stock worth $554,000 after purchasing an additional 605,000 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Republic First Bancorp in the second quarter worth about $75,000. 34.27% of the stock is owned by hedge funds and other institutional investors.

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. It accepts consumer and commercial deposit, checking, interest-bearing demand, money market, savings, sweep, and individual retirement accounts, as well as certificates of deposit.