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Republic First Bancorp

Nasdaq:FRBK
Snowflake Description

High growth potential with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FRBK
Nasdaq
$335M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

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. The last earnings update was 5 days ago. More info.


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FRBK Share Price and Events
7 Day Returns
-4.8%
NasdaqGM:FRBK
2.9%
US Banks
1.6%
US Market
1 Year Returns
-33.7%
NasdaqGM:FRBK
-8.1%
US Banks
3.2%
US Market
FRBK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Republic First Bancorp (FRBK) -4.8% -12.8% -8.8% -33.7% 33.5% 45.8%
US Banks 2.9% 1.7% 15% -8.1% 50.7% 42.7%
US Market 1.6% 2.1% 12.8% 3.2% 38.6% 43.6%
1 Year Return vs Industry and Market
  • FRBK underperformed the Banks industry which returned -8.1% over the past year.
  • FRBK underperformed the Market in United States of America which returned 3.2% over the past year.
Price Volatility
FRBK
Industry
5yr Volatility vs Market

Value

 Is Republic First Bancorp undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Republic First Bancorp to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Republic First Bancorp.

NasdaqGM:FRBK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $3.90 * 3%
$0.12
Book Value of Equity per Share Median Book Value from the past 5 years. $3.90
Discount Rate (Cost of Equity) See below 7.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:FRBK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.64
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.641 (1 + (1- 21%) (30.73%))
0.864
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.864 * 5.96%)
7.88%

Discounted Cash Flow Calculation for NasdaqGM:FRBK using Excess Returns Model Model

The calculations below outline how an intrinsic value for Republic First Bancorp is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGM:FRBK Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (3% – 7.88%) * $3.90)
$-0.19
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.19 / (7.88% - 2.73%)
$-3.69
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $3.90 + $-3.69
$0.21
NasdaqGM:FRBK Discount to Share Price
Calculation Result
Value per share (USD) From above. $0.21
Current discount Discount to share price of $5.70
= -1 x ($5.70 - $0.21) / $0.21
-2624.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Republic First Bancorp is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Republic First Bancorp's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Republic First Bancorp's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:FRBK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.15
NasdaqGM:FRBK Share Price ** NasdaqGM (2019-03-19) in USD $5.7
United States of America Banks Industry PE Ratio Median Figure of 587 Publicly-Listed Banks Companies 13.41x
United States of America Market PE Ratio Median Figure of 3,056 Publicly-Listed Companies 17.77x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Republic First Bancorp.

NasdaqGM:FRBK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:FRBK Share Price ÷ EPS (both in USD)

= 5.7 ÷ 0.15

38.56x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Republic First Bancorp is overvalued based on earnings compared to the US Banks industry average.
  • Republic First Bancorp is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Republic First Bancorp's expected growth come at a high price?
Raw Data
NasdaqGM:FRBK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 38.56x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
52.4%per year
United States of America Banks Industry PEG Ratio Median Figure of 260 Publicly-Listed Banks Companies 1.25x
United States of America Market PEG Ratio Median Figure of 2,107 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

NasdaqGM:FRBK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 38.56x ÷ 52.4%

0.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Republic First Bancorp is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Republic First Bancorp's assets?
Raw Data
NasdaqGM:FRBK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $4.17
NasdaqGM:FRBK Share Price * NasdaqGM (2019-03-19) in USD $5.7
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.26x
United States of America Market PB Ratio Median Figure of 5,154 Publicly-Listed Companies 1.89x
NasdaqGM:FRBK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:FRBK Share Price ÷ Book Value per Share (both in USD)

= 5.7 ÷ 4.17

1.37x

* Primary Listing of Republic First Bancorp.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Republic First Bancorp is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess Republic First Bancorp's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Republic First Bancorp has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Republic First Bancorp expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
52.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Republic First Bancorp expected to grow at an attractive rate?
  • Republic First Bancorp's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Republic First Bancorp's earnings growth is expected to exceed the United States of America market average.
  • Republic First Bancorp's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:FRBK Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:FRBK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 52.4%
NasdaqGM:FRBK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 21.1%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.3%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:FRBK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:FRBK Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 144 27 1
2019-12-31 116 15 1
NasdaqGM:FRBK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 94 40 9
2018-09-30 91 29 9
2018-06-30 89 7 9
2018-03-31 85 17 9
2017-12-31 81 -1 9
2017-09-30 77 -1 8
2017-06-30 72 12 7
2017-03-31 66 8 6
2016-12-31 61 5 5
2016-09-30 56 6 4
2016-06-30 52 7 3
2016-03-31 49 12 3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Republic First Bancorp's earnings are expected to grow significantly at over 20% yearly.
  • Republic First Bancorp's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:FRBK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Republic First Bancorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:FRBK Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.40 0.45 0.35 2.00
2019-12-31 0.25 0.26 0.24 2.00
NasdaqGM:FRBK Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.15
2018-09-30 0.16
2018-06-30 0.16
2018-03-31 0.16
2017-12-31 0.16
2017-09-30 0.14
2017-06-30 0.14
2017-03-31 0.13
2016-12-31 0.13
2016-09-30 0.11
2016-06-30 0.09
2016-03-31 0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Republic First Bancorp is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Republic First Bancorp's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Republic First Bancorp has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Republic First Bancorp performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Republic First Bancorp's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Republic First Bancorp has delivered over 20% year on year earnings growth in the past 5 years.
  • Republic First Bancorp's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Republic First Bancorp's 1-year earnings growth is negative, it can't be compared to the US Banks industry average.
Earnings and Revenue History
Republic First Bancorp's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Republic First Bancorp Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:FRBK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 93.93 8.63 66.67
2018-09-30 91.14 9.21 65.09
2018-06-30 88.85 9.21 63.34
2018-03-31 84.96 8.90 60.87
2017-12-31 81.26 8.91 58.01
2017-09-30 77.20 7.66 55.03
2017-06-30 72.03 6.68 52.04
2017-03-31 66.27 5.65 48.23
2016-12-31 61.12 4.95 44.45
2016-09-30 56.38 4.24 41.38
2016-06-30 51.65 3.48 38.20
2016-03-31 49.31 2.99 36.94
2015-12-31 46.95 2.43 35.62
2015-09-30 45.94 2.50 34.32
2015-06-30 44.62 2.21 33.55
2015-03-31 43.46 2.22 32.52
2014-12-31 42.95 2.44 32.00
2014-09-30 38.17 -1.67 30.50
2014-06-30 37.76 -4.19 30.04
2014-03-31 37.33 -3.72 29.34
2013-12-31 36.66 -3.48 28.17
2013-09-30 39.89 0.69 28.68
2013-06-30 39.13 3.31 27.90
2013-03-31 39.11 3.30 27.87
2012-12-31 39.22 3.61 28.19
2012-09-30 27.68 -20.37 27.04
2012-06-30 28.80 -19.40 27.18
2012-03-31 26.88 -20.89 26.66

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Republic First Bancorp has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Republic First Bancorp used its assets less efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Republic First Bancorp improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Republic First Bancorp's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Republic First Bancorp has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Republic First Bancorp's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Republic First Bancorp's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Republic First Bancorp Company Filings, last reported 2 months ago.

NasdaqGM:FRBK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 245.19 103.05 21.50
2018-09-30 235.82 11.45 146.74
2018-06-30 235.33 173.44 60.08
2018-03-31 234.07 105.55 31.72
2017-12-31 226.46 21.97 31.13
2017-09-30 225.20 21.93 99.48
2017-06-30 222.32 76.97 88.78
2017-03-31 218.32 22.05 37.43
2016-12-31 215.05 22.10 12.03
2016-09-30 119.65 23.16 151.07
2016-06-30 118.57 22.48 111.77
2016-03-31 116.60 22.48 65.20
2015-12-31 113.38 68.86 16.34
2015-09-30 114.47 22.48 110.52
2015-06-30 113.44 22.48 81.17
2015-03-31 113.90 22.48 162.53
2014-12-31 112.81 22.48 124.83
2014-09-30 111.59 22.48 105.84
2014-06-30 111.42 22.48 83.12
2014-03-31 65.06 22.48 34.31
2013-12-31 62.90 22.48 32.78
2013-09-30 67.09 22.48 44.31
2013-06-30 69.37 22.48 56.78
2013-03-31 70.52 22.48 71.93
2012-12-31 69.90 22.48 126.40
2012-09-30 68.94 22.48 97.86
2012-06-30 67.26 22.48 99.12
2012-03-31 66.40 26.99 118.23
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Republic First Bancorp has an acceptable proportion of non-loan assets held.
  • Republic First Bancorp's liabilities are made up of primarily low risk sources of funding.
  • Loans at Republic First Bancorp are broadly funded by customer deposits.
  • Republic First Bancorp's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Republic First Bancorp has a low allowance for bad loans.
  • Republic First Bancorp has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Republic First Bancorp's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Republic First Bancorp has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Republic First Bancorp's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Republic First Bancorp dividends.
If you bought $2,000 of Republic First Bancorp shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Republic First Bancorp's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Republic First Bancorp's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:FRBK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 470 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:FRBK Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Republic First Bancorp has not reported any payouts.
  • Unable to verify if Republic First Bancorp's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Republic First Bancorp's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Republic First Bancorp has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Republic First Bancorp's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Republic First Bancorp afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Republic First Bancorp has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Republic First Bancorp's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Harry Madonna
COMPENSATION $907,496
AGE 75
TENURE AS CEO 18.2 years
CEO Bio

Mr. Harry D. Madonna Founded Republic First BanCorp, Inc and has been its Chief Executive Officer since 2001 and as its President since 2001. Mr. Madonna has been the Chief Executive Officer of Republic First Bank since 2001. He was Counsel to Spector Gadon & Rosen, P.C., a general practice law firm located in Philadelphia, Pennsylvania, since January 01, 2002 until June 30, 2005. He serves as the chairman of Delaware Bank and has been its President since January 2001. He served as an Interim Chief Executive Officer of First Bank of Delaware since June 30, 2011. Mr. Madonna served as the Executive Chairman of First Bank of Delaware since 1999 until November 2012. He served as President of Republic First Bank from July 21, 2008 to May 2010. He served as the Chief Executive Officer of First Bank of Delaware (DE Bank), a subsidiary of Republic First BanCorp, Inc. from January 2002 to July 2008. He served as President of First Bank of Delaware from January 2002 to December 20, 2006. He also served as Republic First Bank (Philadelphia, PA) from September 6, 2005 to December 2006. He served as Partner of Blank Rome Comisky & McCauley LLP since 1980 until December 2001. Mr. Madonna's background as an attorney and years of experience with the Bank provides him with the skills to serve on the board of both the Company and the Bank. Mr. Madonna is Chairman of Republic First Bank since 1998. He was chairman of the Republic First Bancorp Inc. from 1988 to December 2016. He served as Executive Chairman at Republic First Bancorp, Inc until December 2016.

CEO Compensation
  • Harry's compensation has increased by more than 20% in the past year.
  • Harry's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Republic First Bancorp management team in years:

9.8
Average Tenure
61.5
Average Age
  • The average tenure for the Republic First Bancorp management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Harry Madonna

TITLE
CEO, President & Director
COMPENSATION
$907K
AGE
75
TENURE
18.2 yrs

Frank Cavallaro

TITLE
Executive VP & CFO
COMPENSATION
$426K
AGE
49
TENURE
9.6 yrs

Steve McWilliams

TITLE
Senior Vice President and Senior Commercial Lender
AGE
56
TENURE
9.9 yrs

Rob Worley

TITLE
Senior VP & New Jersey Market Manager
AGE
61

Donald Reardon

TITLE
Senior Vice President and Director of Cash Management

Sharon Hammel

TITLE
Chief Retail Officer
TENURE
2.1 yrs

Leslie Diluigi

TITLE
Senior Vice President and Retail Market Manager for South Jersey
TENURE
1.9 yrs

Edward Ryan

TITLE
Controller and Controller of Republic First Bank
COMPENSATION
$112K
AGE
62
TENURE
13.4 yrs

Kemma Brown

TITLE
Corporate Secretary

R. E. Davis

TITLE
Executive Officer
AGE
79
Board of Directors Tenure

Average tenure and age of the Republic First Bancorp board of directors in years:

9.3
Average Tenure
66.5
Average Age
  • The tenure for the Republic First Bancorp board of directors is about average.
Board of Directors

Vernon Hill

TITLE
Chairman of the Board
COMPENSATION
$692K
AGE
72
TENURE
2.3 yrs

Harry Madonna

TITLE
CEO, President & Director
COMPENSATION
$907K
AGE
75
TENURE
31.2 yrs

Barry Spevak

TITLE
Director
COMPENSATION
$167K
AGE
58
TENURE
14.9 yrs

Theodore Flocco

TITLE
Director
COMPENSATION
$159K
AGE
74
TENURE
10.8 yrs

Harris Wildstein

TITLE
Director
COMPENSATION
$167K
AGE
72
TENURE
31.2 yrs

Brian Tierney

TITLE
Director
COMPENSATION
$133K
AGE
61
TENURE
7.9 yrs

Lisa Jacobs

TITLE
Director
COMPENSATION
$71K
AGE
59
TENURE
2.1 yrs

Andrew Cohen

TITLE
Director
COMPENSATION
$14K
AGE
46
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Republic First Bancorp insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
02. Jan 19 Buy Lisa Jacobs Individual 28. Dec 18 31. Dec 18 2,000 $5.99 $11,980
05. Nov 18 Buy Theodore Flocco Individual 01. Nov 18 01. Nov 18 10,000 $6.81 $67,924
01. Aug 18 Buy Lisa Jacobs Individual 31. Jul 18 31. Jul 18 1,200 $8.12 $9,739
X
Management checks
We assess Republic First Bancorp's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Republic First Bancorp has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

If You Had Bought Republic First Bancorp (NASDAQ:FRBK) Shares Three Years Ago You'd Have Made 41%

On the other hand the share price is higher than it was three years ago. … During three years of share price growth, Republic First Bancorp achieved compound earnings per share growth of 32% per year. … This EPS growth is higher than the 12% average annual increase in the share price.

Simply Wall St -

Does Republic First Bancorp, Inc. (NASDAQ:FRBK) Have A High Beta?

The other type, which cannot be diversified away, is the volatility of the entire market. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility).

Simply Wall St -

Why Republic First Bancorp, Inc. (NASDAQ:FRBK) May Not Be As Risky Than You Think

Its profit and value are directly impacted by its borrowers’ ability to pay which is driven by the level of economic growth. … This is because growth determines the stability of a borrower’s salary as well as the level of interest rates. … Since the level of risky assets held by the bank impacts the attractiveness of it as an investment, I will take you through three metrics that are insightful proxies for risk.

Simply Wall St -

How Should Investors React To Republic First Bancorp, Inc.'s (NASDAQ:FRBK) CEO Pay?

In 2001 Harry Madonna was appointed CEO of Republic First Bancorp, Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Harry Madonna's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Here's What Republic First Bancorp, Inc.'s (NASDAQ:FRBK) P/E Is Telling Us

To keep it practical, we'll show how Republic First Bancorp, Inc.'s (NASDAQ:FRBK) P/E ratio could help you assess the value on offer. … Based on the last twelve months, Republic First Bancorp's P/E ratio is 39.62. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

How Many Insiders Bought Republic First Bancorp, Inc. (NASDAQ:FRBK) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Republic First Bancorp, Inc. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … In any event it's generally a positive if insiders are buying shares at around the current price.

Simply Wall St -

Does Republic First Bancorp Inc (NASDAQ:FRBK) Have A High Beta?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

Should You Be Concerned About Republic First Bancorp Inc’s (NASDAQ:FRBK) Liquidity?

Republic First Bancorp Inc’s (NASDAQ:FRBK) profitability and risk are largely affected by the underlying economic growth for the region it operates in US given it is a small-cap stock with a market capitalisation of US$396m. … These reforms target banking regulations and intends to enhance financial institutions’ ability to absorb shocks resulting from economic stress which could expose banks like Republic First Bancorp to vulnerabilities. … Today we will be measuring Republic First Bancorp’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

Why Republic First Bancorp Inc's (NASDAQ:FRBK) CEO Salary Matters To You

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Harry Madonna's Compensation Compare With Similar Sized Companies. … According to our data, Republic First Bancorp Inc has a market capitalization of US$389m, and pays its CEO total annual compensation worth US$907k.

Simply Wall St -

Will Republic First Bancorp Inc (NASDAQ:FRBK) Continue To Underperform Its Industry?

Republic First Bancorp Inc (NASDAQ:FRBK) delivered a less impressive 3.9% ROE over the past year, compared to the 8.2% return generated by its industry. … Today I will look at how components such as financial leverage can influence ROE which may impact the sustainability of FRBK's returns … See our latest analysis for Republic First Bancorp

Simply Wall St -

Company Info

Description

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. The company also provides 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, as well as lockbox services. It has branches; and 25 proprietary ATMs located in its store network. Republic First Bancorp, Inc. was founded in 1987 and is based in Philadelphia, Pennsylvania.

Details
Name: Republic First Bancorp, Inc.
FRBK
Exchange: NasdaqGM
Founded: 1987
$335,304,084
58,825,278
Website: http://www.myrepublicbank.com
Address: Republic First Bancorp, Inc.
50 South 16th Street,
Philadelphia,
Pennsylvania, 19102,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM FRBK Common Stock Nasdaq Global Market US USD 10. Jun 1996
Number of employees
Current staff
Staff numbers
502
Republic First Bancorp employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 23:42
End of day share price update: 2019/03/19 00:00
Last estimates confirmation: 2019/02/24
Last earnings filing: 2019/03/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.