Republic First Bancorp, Inc. (NASDAQ:FRBK) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,942,000 shares, a drop of 11.1% from the June 15th total of 2,185,100 shares. Based on an average trading volume of 123,100 shares, the days-to-cover ratio is presently 15.8 days. Currently, 4.3% of the company’s stock are sold short.

A number of research analysts have recently issued reports on the company. BidaskClub downgraded Zai Lab from a “strong-buy” rating to a “buy” rating in a report on Friday. TheStreet downgraded ZTO Express (Cayman) from a “b+” rating to a “c” rating in a research note on Wednesday, May 1st.

Shares of FRBK stock opened at $4.68 on Friday. Republic First Bancorp has a 1-year low of $4.49 and a 1-year high of $8.15. The stock’s fifty day simple moving average is $4.82. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 0.28. The stock has a market cap of $275.38 million, a P/E ratio of 36.00 and a beta of 0.92.

Republic First Bancorp (NASDAQ:FRBK) last announced its earnings results on Thursday, April 25th. The bank reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $24.17 million for the quarter.

In related news, Director Harry Madonna purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average cost of $5.10 per share, for a total transaction of $51,000.00. Following the acquisition, the director now owns 698,684 shares of the company’s stock, valued at approximately $3,563,288.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 17,900 shares of company stock worth $89,886 over the last quarter. Company insiders own 13.10% of the company’s stock.

A number of hedge funds have recently made changes to their positions in FRBK. Cordasco Financial Network purchased a new position in Republic First Bancorp during the 2nd quarter worth $28,000. BNP Paribas Arbitrage SA grew its stake in Republic First Bancorp by 663.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,167 shares of the bank’s stock worth $48,000 after buying an additional 7,967 shares during the last quarter. SG Americas Securities LLC purchased a new position in Republic First Bancorp during the 1st quarter worth $68,000. Metropolitan Life Insurance Co. NY grew its stake in Republic First Bancorp by 284.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 14,066 shares of the bank’s stock worth $84,000 after buying an additional 10,405 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in Republic First Bancorp by 33.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 37,390 shares of the bank’s stock worth $196,000 after acquiring an additional 9,368 shares during the period. Hedge funds and other institutional investors own 59.45% 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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