The stock of Republic First Bancorp, Inc. (NASDAQ:FRBK) hit a new 52-week high and has $11.27 target or 121.00% above today’s $5.10 share price. The 6 months bullish chart indicates low risk for the $197.37M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $11.27 price target is reached, the company will be worth $238.82M 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 64,314 shares traded hands or 19.61% up from the average. Republic First Bancorp, Inc. (NASDAQ:FRBK) has risen 7.61% since April 19, 2016 and is uptrending. It has outperformed by 3.75% the S&P500.
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. The rating was initiated by KBW with “Market Perform” on Thursday, August 20. The company was initiated on Thursday, August 20 by Bruyette & Woods”.
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 2016 Q2. 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.
Blackrock last reported 7,759 shares in the company. Massmutual Fsb Adv holds 0% or 57 shares in its portfolio. Schwab Charles Inv accumulated 52,500 shares or 0% of the stock. Bnp Paribas Arbitrage Sa holds 0% or 1,330 shares in its portfolio. Northern Corp last reported 0% of its portfolio in the stock. Financial Architects last reported 0.01% of its portfolio in the stock. Bessemer Gp holds 4,100 shares or 0% of its portfolio. Blackrock Ltd Liability, a Delaware-based fund reported 19,052 shares. The New York-based Citigroup has invested 0% in Republic First Bancorp, Inc. (NASDAQ:FRBK). Blackrock Fund Advisors accumulated 876,534 shares or 0% of the stock. Credit Suisse Ag accumulated 0% or 15,287 shares. Pnc Svcs Gru accumulated 0% or 5,000 shares. Wells Fargo Mn has 9,044 shares for 0% of their US portfolio. State Street holds 0% or 275,579 shares in its portfolio. Amer Intl Gp Inc has 19,361 shares for 0% of their US portfolio.
More news for Republic First Bancorp, Inc. (NASDAQ:FRBK) were recently published by: Prnewswire.com, which released: “Republic Bank to Acquire Marlton-Based Oak Mortgage Company Expands into …” on July 26, 2016. Prnewswire.com‘s article titled: “Republic Bank Hires Assistant Vice President/Store Manager for its New …” and published on August 03, 2016 is yet another important article.
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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