Republic Bancorp, Inc. (NASDAQ:RBCAA – Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $102.22 and last traded at $100.8360, with a volume of 28128 shares traded. The stock had previously closed at $100.28.
Analyst Ratings Changes
Several brokerages have commented on RBCAA. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Bancorp in a report on Tuesday, June 9th. Hovde Group boosted their price objective on shares of Republic Bancorp from $80.00 to $98.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Zacks Research raised shares of Republic Bancorp to a “hold” rating in a report on Monday, July 13th. Finally, Wall Street Zen upgraded shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.00.
Check Out Our Latest Analysis on RBCAA
Republic Bancorp Stock Down 0.4%
Republic Bancorp (NASDAQ:RBCAA – Get Free Report) last released its earnings results on Friday, July 24th. The bank reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.13. The firm had revenue of $101.27 million for the quarter, compared to analyst estimates of $97.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.38%. As a group, sell-side analysts predict that Republic Bancorp, Inc. will post 6.65 earnings per share for the current fiscal year.
Republic Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 18th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 18th. Republic Bancorp’s dividend payout ratio is currently 30.23%.
Insider Buying and Selling at Republic Bancorp
In other Republic Bancorp news, EVP Christy Ames sold 340 shares of the stock in a transaction 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 completion of the sale, the executive vice president directly owned 6,145 shares of the company’s stock, valued at $540,145.50. This represents a 5.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the executive vice president owned 24,691 shares in the company, valued at $2,062,686.14. This represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 55.90% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Republic Bancorp by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,072 shares of the bank’s stock valued at $371,000 after acquiring an additional 187 shares during the period. Formidable Asset Management LLC boosted its stake in shares of Republic Bancorp by 0.6% in the 1st quarter. Formidable Asset Management LLC now owns 30,972 shares of the bank’s stock valued at $2,137,000 after purchasing an additional 196 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 purchasing an additional 234 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in shares of Republic Bancorp by 9.4% in the 1st quarter. Silver Oak Securities Incorporated now owns 3,486 shares of the bank’s stock worth $246,000 after purchasing an additional 300 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Republic Bancorp in the 3rd quarter worth about $27,000. Institutional investors and hedge funds own 24.37% of the company’s stock.
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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