Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA – Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $91.09 and last traded at $90.43, with a volume of 158161 shares traded. The stock had previously closed at $90.30.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on RBCAA. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. Wall Street Zen upgraded Republic Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Republic Bancorp has a consensus rating of “Buy”.
Read Our Latest Stock Report on RBCAA
Republic Bancorp Stock Up 0.1%
Republic Bancorp (NASDAQ:RBCAA – Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, topping 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 firm had revenue of $114.57 million during the quarter, compared to analyst estimates of $96.60 million.
Republic Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, June 18th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, June 18th. Republic Bancorp’s payout ratio is currently 30.56%.
Insiders Place Their Bets
In other 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 value of $250,620.00. Following the completion of 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 document filed with the Securities & Exchange Commission, 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 transaction, the executive vice president owned 6,145 shares in the company, valued at approximately $540,145.50. This trade represents a 5.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 55.90% of the company’s stock.
Institutional Investors Weigh In On Republic Bancorp
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Republic Bancorp during the third quarter worth about $27,000. Russell Investments Group Ltd. boosted its stake in Republic Bancorp by 2,561.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock worth $60,000 after purchasing an additional 794 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Republic Bancorp by 541.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock worth $121,000 after purchasing an additional 1,483 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Republic Bancorp during the 2nd quarter valued at approximately $121,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Republic Bancorp by 46.4% in the second quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after buying an additional 598 shares during the last quarter. 24.37% of the stock is currently owned by hedge funds and other institutional investors.
Republic Bancorp Company Profile
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.
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