Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA – Get Free Report) saw unusually-high trading volume on Tuesday . 67,498 shares were traded during mid-day trading, a decline of 8% from the previous session’s volume of 72,981 shares.The stock last traded at $91.68 and had previously closed at $91.09.
Analyst Upgrades and Downgrades
A number of research firms recently commented on RBCAA. Wall Street Zen upgraded Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.
Get Our Latest Analysis on Republic Bancorp
Republic Bancorp Trading Up 0.6%
Republic Bancorp (NASDAQ:RBCAA – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, topping the consensus estimate of $1.41 by $0.63. The company had revenue of $114.57 million during the quarter, compared to analysts’ expectations of $96.60 million. Republic Bancorp had a net margin of 25.22% and a return on equity of 11.32%.
Republic Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, June 18th will be issued a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis 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%.
Insider Buying and Selling at Republic Bancorp
In other Republic Bancorp news, EVP Christy Ames sold 340 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total transaction of $29,886.00. Following the completion of the sale, the executive vice president owned 6,145 shares in the company, valued at approximately $540,145.50. The trade was a 5.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony T. Powell sold 3,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total value of $250,620.00. Following the completion of the transaction, the executive vice president directly owned 24,691 shares in the company, valued at approximately $2,062,686.14. This trade represents a 10.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 55.90% of the company’s stock.
Hedge Funds Weigh In On Republic Bancorp
Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in Republic Bancorp during the 3rd quarter worth approximately $27,000. Russell Investments Group Ltd. increased its stake in Republic Bancorp by 2,561.3% in the third quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock valued at $60,000 after purchasing an additional 794 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Republic Bancorp by 541.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock valued at $121,000 after purchasing an additional 1,483 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Republic Bancorp in the second quarter worth $121,000. Finally, BNP Paribas Financial Markets raised its holdings in 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 purchasing an additional 598 shares during the period. Institutional investors and hedge funds own 24.37% of the company’s stock.
About Republic Bancorp
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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