Insider Buying: Republic First Bancorp, Inc. (FRBK) Director Acquires 10,000 Shares of Stock

Republic First Bancorp, Inc. (NASDAQ:FRBK) Director Harry Madonna bought 10,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was purchased at an average price of $5.10 per share, with a total value of $51,000.00. Following the completion of the acquisition, the director now directly owns 698,684 shares in the company, valued at approximately $3,563,288.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of FRBK traded down $0.07 during mid-day trading on Thursday, reaching $4.89. The company had a trading volume of 3,036 shares, compared to its average volume of 124,095. Republic First Bancorp, Inc. has a 52-week low of $4.76 and a 52-week high of $9.00. The company has a quick ratio of 0.63, a current ratio of 0.64 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $295.98 million, a price-to-earnings ratio of 38.69 and a beta of 1.00.

Republic First Bancorp (NASDAQ:FRBK) last issued its earnings results on Thursday, April 25th. The bank reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). Republic First Bancorp had a return on equity of 3.02% and a net margin of 6.19%. The company had revenue of $24.17 million during the quarter.

A number of brokerages have recently weighed in on FRBK. BidaskClub raised Republic First Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, February 5th. TheStreet downgraded Republic First Bancorp from a “b-” rating to a “c” rating in a research note on Wednesday, May 1st.

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC lifted its position in shares of Republic First Bancorp by 2.5% in the fourth quarter. FMR LLC now owns 1,736,900 shares of the bank’s stock valued at $10,370,000 after acquiring an additional 41,600 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Republic First Bancorp by 15.8% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 28,022 shares of the bank’s stock valued at $167,000 after purchasing an additional 3,815 shares during the period. Schaller Investment Group Inc. boosted its holdings in Republic First Bancorp by 0.3% in the fourth quarter. Schaller Investment Group Inc. now owns 3,797,385 shares of the bank’s stock valued at $22,670,000 after purchasing an additional 10,500 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Republic First Bancorp by 30.5% in the third quarter. Dimensional Fund Advisors LP now owns 807,872 shares of the bank’s stock valued at $5,776,000 after purchasing an additional 188,580 shares during the period. Finally, Costello Asset Management INC purchased a new position in Republic First Bancorp in the fourth quarter valued at $1,207,000. Hedge funds and other institutional investors own 57.92% of the company’s stock.

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About Republic First Bancorp

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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Insider Buying and Selling by Quarter for Republic First Bancorp (NASDAQ:FRBK)

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