Republic Bancorp (NASDAQ:RBCAA) Sees Unusually-High Trading Volume – What’s Next?

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) saw strong trading volume on Tuesday . 47,274 shares were traded during trading, an increase of 92% from the previous session’s volume of 24,650 shares.The stock last traded at $72.22 and had previously closed at $70.81.

Wall Street Analyst Weigh In

Separately, Hovde Group increased their target price on shares of Republic Bancorp from $64.00 to $69.00 and gave the company a “market perform” rating in a research report on Friday, April 25th.

Republic Bancorp Trading Up 1.1%

The stock has a market cap of $1.40 billion, a PE ratio of 11.80 and a beta of 0.51. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $69.30 and a two-hundred day simple moving average of $67.80.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.56. The company had revenue of $135.84 million during the quarter, compared to the consensus estimate of $126.90 million. Republic Bancorp had a net margin of 22.94% and a return on equity of 11.92%.

Republic Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, June 20th will be issued a $0.451 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.52%. Republic Bancorp’s payout ratio is 29.65%.

Insiders Place Their Bets

In related news, EVP Christy Ames sold 700 shares of Republic Bancorp stock in a transaction on Monday, June 9th. The shares were sold at an average price of $70.50, for a total value of $49,350.00. Following the transaction, the executive vice president now directly owns 5,044 shares of the company’s stock, valued at $355,602. The trade was a 12.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 56.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Republic Bancorp

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Republic Bancorp by 11.7% in the first quarter. Vanguard Group Inc. now owns 575,166 shares of the bank’s stock worth $36,707,000 after buying an additional 60,300 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Republic Bancorp during the 4th quarter worth approximately $2,931,000. Norges Bank purchased a new position in shares of Republic Bancorp during the 4th quarter worth approximately $1,803,000. American Century Companies Inc. raised its position in shares of Republic Bancorp by 12.8% in the 1st quarter. American Century Companies Inc. now owns 210,003 shares of the bank’s stock worth $13,402,000 after acquiring an additional 23,886 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Republic Bancorp in the 1st quarter valued at approximately $1,380,000. 24.37% of the stock is currently owned by institutional investors.

Republic Bancorp Company Profile

Republic Bancorp, Inc operates as a bank holding company for Republic Bank & Trust Company that provides various banking products and services in the United States. It operates in six segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions.