Traders Are Bearish Republic First Bancorp, Inc. (FRBK) After The Stock Formed Bearish Double Bottom Chart Pattern

February 15, 2018 - By reb123z

Investors sentiment decreased to 0.97 in 2017 Q3. Its down 0.51, from 1.48 in 2017Q2. It worsened, as 4 investors sold Republic First Bancorp, Inc. shares while 25 reduced holdings. 6 funds opened positions while 22 raised stakes. 30.37 million shares or 0.48% less from 30.51 million shares in 2017Q2 were reported.
Wealthtrust Axiom Ltd Liability reported 38,200 shares or 0.13% of all its holdings. Wellington Mngmt Limited Liability Partnership holds 0.01% of its portfolio in Republic First Bancorp, Inc. (NASDAQ:FRBK) for 3.36 million shares. Credit Suisse Ag invested in 56,520 shares or 0% of the stock. Kistler has 0% invested in Republic First Bancorp, Inc. (NASDAQ:FRBK). Legal & General Group Public Ltd Liability holds 14,666 shares. New York State Common Retirement Fund holds 0% or 43,500 shares in its portfolio. California State Teachers Retirement has invested 0% in Republic First Bancorp, Inc. (NASDAQ:FRBK). Basswood Capital Mgmt Limited Com holds 0.27% or 646,046 shares in its portfolio. Royal Bancorp Of Canada reported 4,099 shares. Commonwealth Equity Services Inc holds 0% or 41,259 shares in its portfolio. Moreover, California Public Employees Retirement Sys has 0% invested in Republic First Bancorp, Inc. (NASDAQ:FRBK). Pnc Fincl Serv Gru Inc accumulated 5,000 shares or 0% of the stock. The Pennsylvania-based Emerald Mutual Fund Advisers Trust has invested 0.29% in Republic First Bancorp, Inc. (NASDAQ:FRBK). First Trust Advsr Lp has 72,623 shares. Renaissance Lc owns 0% invested in Republic First Bancorp, Inc. (NASDAQ:FRBK) for 124,300 shares.

The chart of Republic First Bancorp, Inc. (FRBK) shows a double bottom with $7.60 target or 9.00 % below today’s $8.35 share price. The 8 months chart pattern indicates high risk for the $475.87M company. It was reported on Feb, 15 by Finviz.com. If the $7.60 price target is reached, the company will be worth $42.83 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 1.21% or $0.1 during the last trading session, reaching $8.35. About 17,350 shares traded. Republic First Bancorp, Inc. (NASDAQ:FRBK) has risen 95.56% since February 15, 2017 and is uptrending. It has outperformed by 78.86% the S&P500.

Republic First Bancorp, Inc. (NASDAQ:FRBK) Ratings Coverage

Among 4 analysts covering Republic First Bancorp (NASDAQ:FRBK), 0 have Buy rating, 0 Sell and 4 Hold. Therefore 0 are positive. Republic First Bancorp had 9 analyst reports since August 20, 2015 according to SRatingsIntel. The firm has “Hold” rating by Sandler O’Neill given on Wednesday, January 24. The rating was maintained by Sandler O’Neill with “Hold” on Wednesday, January 3. Keefe Bruyette & Woods maintained Republic First Bancorp, Inc. (NASDAQ:FRBK) on Thursday, December 21 with “Hold” rating. Keefe Bruyette & Woods maintained Republic First Bancorp, Inc. (NASDAQ:FRBK) on Friday, July 21 with “Hold” rating. On Tuesday, October 3 the stock rating was maintained by Keefe Bruyette & Woods with “Hold”. As per Thursday, June 1, the company rating was maintained by Keefe Bruyette & Woods. KBW initiated Republic First Bancorp, Inc. (NASDAQ:FRBK) on Thursday, August 20 with “Market Perform” rating. The stock of Republic First Bancorp, Inc. (NASDAQ:FRBK) earned “Mkt Perform” rating by Bruyette & Woods” on Thursday, August 20.

Another recent and important Republic First Bancorp, Inc. (NASDAQ:FRBK) news was published by Globenewswire.com which published an article titled: “Republic First Bancorp, Inc. Reports 80% Increase in Net Income and Deposit …” on January 22, 2018.

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