Dallas, Texas 07/01/2015 (Financialstrend) – Republic First Bancorp, Inc. (NASDAQ:FRBK) is trading flat in today’s trading session. The stock has been trading in no trading zone since quite a long time. The stock has a YTD of -7.47% compared to gains in S&P.
The stock has been finding it difficult to cross $3.8 on the upside while on the lower end it is managing to sustain above $3.2. Moving ahead the stock will need some kind of trigger in order to cross above the resistance level of $3.5 and $3.8.
Republic First Bancorp, Inc. (NASDAQ:FRBK) had missed first quarter estimated earnings and had fallen short on revenues earned as well. However, it had claimed that it had seen a first quarter increase in the total assets as well as loans and deposits, in the past year. This has served to establish the strategic decisions were right, claimed the CEO, Harry. D. Madonna, during the first quarter conference all.
During the discussions, the CEO claimed that the aggressive growth the company posted was due to its strategic plan of ‘The power of red is back.’ The development of new real estate avenues, such as the Evesham Township at Berlin, NJ in summer were regarded as massive growth opportunities for the bank.
The Chief Executive officer, Madonna, had reiterated that the focus for the bank has been rendering ‘outstanding customer service’ especially in Philadelphia and South Jersey. The CEO claimed that the customer service has been the hallmark of the bank and led to the addition of new stores in 2015.
In the meanwhile, in June, the company has been on a manger-hiring spree, with new Republic First Bancorp, Inc. (NASDAQ:FRBK) managers for its Marlton and Berlin stores in NJ.