Republic Bancorp, Inc. (NASDAQ:RBCAA) Short Interest Down 26.4% in May

Republic Bancorp, Inc. (NASDAQ:RBCAA) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 44,600 shares, a drop of 26.4% from the May 15th total of 60,600 shares. Based on an average daily volume of 16,500 shares, the days-to-cover ratio is presently 2.7 days. Currently, 0.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Hovde Group began coverage on Republic Bancorp in a report on Monday, March 4th. They issued an “outperform” rating on the stock.

Hedge Funds Weigh In On Republic Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in shares of Republic Bancorp by 82.7% in the first quarter. BNP Paribas Financial Markets now owns 4,258 shares of the bank’s stock valued at $217,000 after purchasing an additional 1,927 shares in the last quarter. SG Americas Securities LLC lifted its position in Republic Bancorp by 27.9% in the fourth quarter. SG Americas Securities LLC now owns 4,953 shares of the bank’s stock worth $273,000 after buying an additional 1,079 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Republic Bancorp in the third quarter worth $274,000. Barlow Wealth Partners Inc. bought a new stake in Republic Bancorp in the fourth quarter worth $298,000. Finally, Inspire Investing LLC lifted its position in Republic Bancorp by 3.6% in the first quarter. Inspire Investing LLC now owns 7,076 shares of the bank’s stock worth $361,000 after buying an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 24.37% of the company’s stock.

Republic Bancorp Stock Performance

Republic Bancorp stock traded down $0.80 during trading on Friday, reaching $50.03. The company had a trading volume of 9,470 shares, compared to its average volume of 15,264. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 0.29. The firm’s 50-day simple moving average is $51.13 and its 200 day simple moving average is $50.93. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 10.51 and a beta of 0.56. Republic Bancorp has a 52 week low of $41.35 and a 52 week high of $57.54.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Thursday, April 25th. The bank reported $1.58 EPS for the quarter. The business had revenue of $120.29 million for the quarter. Republic Bancorp had a return on equity of 10.10% and a net margin of 20.27%.

Republic Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 21st will be given a $0.407 dividend. The ex-dividend date is Friday, June 21st. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.25%. Republic Bancorp’s dividend payout ratio is currently 34.24%.

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.