We feature Royal Bancshares of Pennsylvania Inc (NASDAQ: RBPAA), a bank holding company, as today’s top momentum gainer since it gained more than 14% touching its new intraday 52-week highs during the last two consecutive trading days with huge shares exchanging hands. RBPAA was the top gainer in the U.S. financial sector after gaining 42.4% and closed at its 52-week high of $2.99 while recording significant volumes of 264,788 shares. During the last 5-trading sessions, RBPAA skyrocketed 102.5% recording daily average volumes of 95,078 shares, while the stock accumulated over 80% during the past one month with 30-day average volumes of 24,023 shares. Recently, RBPAA reported its earnings results for fourth quarter of 2013. The company reported net income of $2.4 million or 14 cents per share during the quarter from the loss of $8.0 million or 64 cents reported during the same quarter of 2012. Net income for full year 2013 amounted to $2.1 million compared to a net loss of $15.6 million in 2012.
Company Description:
Royal Bancshares of Pennsylvania Inc (NASDAQ: RBPAA) is the holding company for Royal Bank of Pennsylvania. The bank offers checking accounts, savings and time deposits, and loans through offices located throughout Montgomery, Chester, Bucks, Delaware, Berks, and Philadelphia counties, Pennsylvania. Royal Bancshares also buys, holds, and sells investment securities through a non-bank subsidiary.
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