StockNews.com Initiates Coverage on Republic First Bancorp (NASDAQ:FRBK)

Equities research analysts at StockNews.com assumed coverage on shares of Republic First Bancorp (NASDAQ:FRBK) in a research report issued to clients and investors on Friday. The firm set a “sell” rating on the bank’s stock.

Republic First Bancorp Stock Down 61.3 %

FRBK opened at $0.01 on Friday. Republic First Bancorp has a 12 month low of $0.00 and a 12 month high of $1.55. The firm’s fifty day simple moving average is $0.02 and its 200 day simple moving average is $0.07.

Institutional Investors Weigh In On Republic First Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in shares of Republic First Bancorp in the second quarter valued at approximately $39,000. Prudential Financial Inc. boosted its stake in shares of Republic First Bancorp by 97.2% during the 1st quarter. Prudential Financial Inc. now owns 34,490 shares of the bank’s stock worth $47,000 after buying an additional 17,000 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Republic First Bancorp in the first quarter valued at about $48,000. PNC Financial Services Group Inc. bought a new stake in Republic First Bancorp during the first quarter worth about $52,000. Finally, Ergoteles LLC acquired a new position in Republic First Bancorp during the second quarter valued at approximately $55,000. Institutional investors and hedge funds own 8.93% 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. It accepts consumer and commercial deposit, checking, interest-bearing demand, money market, savings, sweep, and individual retirement accounts, as well as certificates of deposit.