Republic Bancorp (NASDAQ:RBCAA) Sets New 12-Month High – Time to Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAAGet Free Report) reached a new 52-week high on Thursday . The stock traded as high as $88.84 and last traded at $88.0280, with a volume of 8525 shares. The stock had previously closed at $87.87.

Analyst Upgrades and Downgrades

RBCAA has been the topic of a number of research analyst reports. Wall Street Zen raised Republic Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

View Our Latest Research Report on RBCAA

Republic Bancorp Stock Up 1.5%

The company has a market capitalization of $1.75 billion, a P/E ratio of 13.79 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.06. The firm’s fifty day moving average is $80.22 and its 200-day moving average is $74.29.

Republic Bancorp (NASDAQ:RBCAAGet Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, beating the consensus estimate of $1.41 by $0.63. Republic Bancorp had a net margin of 25.22% and a return on equity of 11.32%. The business had revenue of $114.57 million during the quarter, compared to the consensus estimate of $96.60 million.

Republic Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, June 18th will be issued a dividend of $0.495 per share. The ex-dividend date is Thursday, June 18th. This represents a $1.98 annualized dividend and a dividend yield of 2.2%. Republic Bancorp’s dividend payout ratio is 30.56%.

Insiders Place Their Bets

In related news, EVP Anthony T. Powell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total transaction of $250,620.00. Following the sale, the executive vice president owned 24,691 shares of the company’s stock, valued at $2,062,686.14. This trade represents a 10.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Christy Ames sold 340 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total value of $29,886.00. Following the sale, the executive vice president owned 6,145 shares in the company, valued at $540,145.50. This represents a 5.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 55.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Formidable Asset Management LLC raised its holdings in Republic Bancorp by 0.6% in the 4th quarter. Formidable Asset Management LLC now owns 30,776 shares of the bank’s stock valued at $2,224,000 after buying an additional 184 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Republic Bancorp by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,072 shares of the bank’s stock worth $371,000 after acquiring an additional 187 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Republic Bancorp by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank’s stock valued at $316,000 after acquiring an additional 234 shares during the period. Silver Oak Securities Incorporated increased its position in Republic Bancorp by 9.4% in the 1st quarter. Silver Oak Securities Incorporated now owns 3,486 shares of the bank’s stock valued at $246,000 after acquiring an additional 300 shares during the period. Finally, Quarry LP bought a new position in shares of Republic Bancorp during the third quarter valued at $27,000. Institutional investors and hedge funds own 24.37% of the company’s stock.

About Republic Bancorp

(Get Free Report)

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp’s branch network spans key markets in the U.S.

See Also

Receive News & Ratings for Republic Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.