Dimensional Fund Advisors LP grew its position in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA – Free Report) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 928,367 shares of the bank’s stock after purchasing an additional 5,656 shares during the period. Dimensional Fund Advisors LP owned approximately 4.73% of Republic Bancorp worth $65,496,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Quarry LP acquired a new stake in shares of Republic Bancorp in the third quarter valued at $27,000. Russell Investments Group Ltd. lifted its stake in Republic Bancorp by 2,561.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock worth $60,000 after acquiring an additional 794 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Republic Bancorp by 541.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock worth $121,000 after acquiring an additional 1,483 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Republic Bancorp during the 2nd quarter valued at about $121,000. Finally, BNP Paribas Financial Markets boosted its holdings in Republic Bancorp by 46.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock valued at $138,000 after acquiring an additional 598 shares during the period. 24.37% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on RBCAA. Zacks Research upgraded shares of Republic Bancorp to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. Hovde Group raised their price objective on shares of Republic Bancorp from $80.00 to $98.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Finally, Wall Street Zen upgraded shares of Republic Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Republic Bancorp currently has an average rating of “Hold” and an average price target of $98.00.
Republic Bancorp Trading Up 1.1%
RBCAA opened at $99.54 on Friday. Republic Bancorp, Inc. has a 12 month low of $63.97 and a 12 month high of $102.00. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 15.20 and a beta of 0.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 1.05. The business has a fifty day moving average price of $88.26 and a 200 day moving average price of $78.01.
Republic Bancorp (NASDAQ:RBCAA – Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The bank reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.13. The company had revenue of $101.27 million for the quarter, compared to the consensus estimate of $97.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.38%. Sell-side analysts expect that Republic Bancorp, Inc. will post 6.65 earnings per share for the current fiscal year.
Republic Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 18th will be paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 18th. Republic Bancorp’s dividend payout ratio is presently 30.23%.
Insider Activity at Republic Bancorp
In related news, EVP Christy Ames sold 340 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were 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 of the company’s stock, valued at $540,145.50. This trade represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony T. Powell sold 3,000 shares of Republic Bancorp stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 24,691 shares of the company’s stock, valued at $2,062,686.14. This represents a 10.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 55.90% of the stock is owned by company insiders.
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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