Republic First Bancorp, Inc. to Post Q2 2020 Earnings of $0.02 Per Share, Piper Sandler Forecasts (NASDAQ:FRBK)

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Republic First Bancorp, Inc. (NASDAQ:FRBK) – Equities researchers at Piper Sandler issued their Q2 2020 earnings estimates for shares of Republic First Bancorp in a research report issued on Monday, June 29th. Piper Sandler analyst F. Schiraldi forecasts that the bank will earn $0.02 per share for the quarter.

Separately, Zacks Investment Research lowered Republic First Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday.

FRBK stock opened at $2.40 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. Republic First Bancorp has a 1 year low of $1.80 and a 1 year high of $5.06. The stock has a 50-day simple moving average of $2.38 and a 200-day simple moving average of $2.88.

Republic First Bancorp (NASDAQ:FRBK) last issued its quarterly earnings data on Wednesday, April 29th. The bank reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04. Republic First Bancorp had a negative return on equity of 1.80% and a negative net margin of 3.42%. The company had revenue of $27.30 million during the quarter, compared to analysts’ expectations of $26.95 million.

Several hedge funds have recently bought and sold shares of the company. Citigroup Inc. grew its holdings in shares of Republic First Bancorp by 63.3% in the 4th quarter. Citigroup Inc. now owns 14,165 shares of the bank’s stock worth $59,000 after acquiring an additional 5,490 shares during the last quarter. BlackRock Inc. lifted its position in shares of Republic First Bancorp by 19.8% during the 1st quarter. BlackRock Inc. now owns 7,585,500 shares of the bank’s stock worth $16,612,000 after purchasing an additional 1,252,926 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Republic First Bancorp by 7.0% during the 1st quarter. Bank of New York Mellon Corp now owns 266,783 shares of the bank’s stock worth $584,000 after purchasing an additional 17,454 shares during the last quarter. Bailard Inc. acquired a new position in shares of Republic First Bancorp during the 1st quarter worth about $77,000. Finally, SG Americas Securities LLC acquired a new position in shares of Republic First Bancorp during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 70.80% of the company’s stock.

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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Earnings History and Estimates for Republic First Bancorp (NASDAQ:FRBK)

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