The stock of Republic First Bancorp, Inc. (NASDAQ:FRBK) hit a new 52-week high and has $5.47 target or 4.00% above today’s $5.26 share price. The 5 months bullish chart indicates low risk for the $205.10M company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $5.47 price target is reached, the company will be worth $8.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 53,276 shares traded hands. Republic First Bancorp, Inc. (NASDAQ:FRBK) has risen 14.32% since April 28, 2016 and is uptrending. It has outperformed by 8.39% the S&P500.
Analysts await Republic First Bancorp, Inc. (NASDAQ:FRBK) to report earnings on January, 23.
Republic First Bancorp, Inc. (NASDAQ:FRBK) Ratings Coverage
Out of 2 analysts covering Republic First Bancorp (NASDAQ:FRBK), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Republic First Bancorp has been the topic of 3 analyst reports since August 20, 2015 according to StockzIntelligence Inc. Bruyette & Woods” initiated the stock with “Mkt Perform” rating in Thursday, August 20 report. KBW initiated the shares of FRBK in a report on Thursday, August 20 with “Market Perform” rating.
According to Zacks Investment Research, “REPUBLIC FST BC is a two-bank holding company. Its wholly-owned subsidiaries, FirstRepublic Bank, and Republic First Bank of Delaware, offer banking services to individuals and businesses throughout the Greater Philadelphia, Delaware and South Jersey area. They provide banking services through the Banks and do not presently engage in any activities other than these bankinga ctivities.”
Insitutional Activity: The institutional sentiment increased to 1.92 in Q2 2016. Its up 0.42, from 1.5 in 2016Q1. The ratio improved, as 12 funds sold all Republic First Bancorp, Inc. shares owned while 8 reduced positions. 14 funds bought stakes while 16 increased positions. They now own 16.10 million shares or 45.75% less from 29.68 million shares in 2016Q1.
Wells Fargo And Mn has 0% invested in the company for 9,044 shares. Mycio Wealth Ptnrs Limited Liability Com last reported 4,278 shares in the company. State Street Corporation has invested 0% of its portfolio in Republic First Bancorp, Inc. (NASDAQ:FRBK). Moreover, Blackrock Ltd Llc has 0% invested in Republic First Bancorp, Inc. (NASDAQ:FRBK) for 19,052 shares. The Illinois-based Guggenheim Cap Limited Liability Com has invested 0% in Republic First Bancorp, Inc. (NASDAQ:FRBK). Basswood Cap Mngmt Limited Com holds 0.58% or 2.32M shares in its portfolio. Wealthtrust Axiom Lc, a Pennsylvania-based fund reported 42,900 shares. Blackrock Fund holds 0% of its portfolio in Republic First Bancorp, Inc. (NASDAQ:FRBK) for 876,534 shares. Bank & Trust Of Ny Mellon last reported 92,974 shares in the company. Citigroup Inc owns 3,347 shares or 0% of their US portfolio. California Pub Employees Retirement has 69,464 shares for 0% of their US portfolio. Blackrock Institutional Co Na has 0% invested in the company for 236,147 shares. Ladenburg Thalmann Finance Inc last reported 10,000 shares in the company. Creative Planning holds 9,245 shares or 0% of its portfolio. Manufacturers Life Company The accumulated 0% or 4,121 shares.
Another recent and important Republic First Bancorp, Inc. (NASDAQ:FRBK) news was published by Prnewswire.com which published an article titled: “Republic Bank Honors Serendipity of Haddonfield to Celebrate Small Business …” on November 28, 2016.
FRBK Company Profile
Republic First Bancorp, Inc., incorporated on November 16, 1987, is a holding firm for Republic First Bank (Republic or the Bank), which does business under the name Republic Bank. The Company’s community banking segment encompasses the commercial loan and deposit activities of Republic, as well as consumer loan products in the areas surrounding its store network. The Firm offers a range of banking services and products, including consumer and commercial deposit accounts, checking accounts, interest-bearing demand accounts, money market accounts, certificates of deposit, savings accounts, sweep accounts, lockbox services and individual retirement accounts (and other traditional banking services), secured and unsecured commercial loans, real estate loans, construction and land development loans, automobile loans, home improvement loans, mortgages, home equity and overdraft lines of credit, and other products.
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