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

Republic First Bancorp, Inc. (NASDAQ:FRBK) – Investment analysts 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 anticipates that the bank will post earnings per share of $0.02 for the quarter.

Republic First Bancorp (NASDAQ:FRBK) last released its earnings results on Wednesday, April 29th. The bank reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The firm had revenue of $27.30 million for the quarter, compared to the consensus estimate of $26.95 million. Republic First Bancorp had a negative net margin of 3.42% and a negative return on equity of 1.80%.

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

Republic First Bancorp stock opened at $2.40 on Wednesday. The firm’s fifty day moving average is $2.38 and its 200 day moving average is $2.88. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32. Republic First Bancorp has a 52-week low of $1.80 and a 52-week high of $5.06.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Republic First Bancorp by 19.8% during the first quarter. BlackRock Inc. now owns 7,585,500 shares of the bank’s stock valued at $16,612,000 after purchasing an additional 1,252,926 shares in the last quarter. M3F Inc. increased its position in Republic First Bancorp by 5,207.5% during the first quarter. M3F Inc. now owns 3,292,758 shares of the bank’s stock valued at $7,211,000 after acquiring an additional 3,230,718 shares during the last quarter. Royal Bank of Canada increased its position in Republic First Bancorp by 106.1% during the first quarter. Royal Bank of Canada now owns 2,078,645 shares of the bank’s stock valued at $4,552,000 after acquiring an additional 1,070,130 shares during the last quarter. BHZ Capital Management LP increased its position in Republic First Bancorp by 58.5% during the first quarter. BHZ Capital Management LP now owns 1,954,343 shares of the bank’s stock valued at $4,280,000 after acquiring an additional 721,516 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Republic First Bancorp by 57.0% during the fourth quarter. Renaissance Technologies LLC now owns 1,053,233 shares of the bank’s stock valued at $4,403,000 after acquiring an additional 382,300 shares during the last quarter. 70.80% of the stock is currently owned by institutional investors.

Republic First Bancorp Company Profile

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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