Republic Bancorp (NASDAQ:RBCAA) Sees Strong Trading Volume – Here’s Why

Republic Bancorp, Inc. (NASDAQ:RBCAA) saw unusually-strong trading volume on Thursday . Approximately 18,284 shares traded hands during trading, an increase of 1% from the previous session’s volume of 18,154 shares.The stock last traded at $65.38 and had previously closed at $64.48.

Wall Street Analysts Forecast Growth

Separately, Hovde Group decreased their target price on Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th.

Republic Bancorp Price Performance

The stock’s fifty day moving average price is $66.30 and its 200-day moving average price is $68.56. The firm has a market cap of $1.27 billion, a PE ratio of 12.51 and a beta of 0.46. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Republic Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be paid a dividend of $0.451 per share. The ex-dividend date is Friday, March 21st. This represents a $1.80 dividend on an annualized basis and a yield of 2.76%. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.41. Republic Bancorp’s payout ratio is 34.42%.

Insider Buying and Selling at Republic Bancorp

In other Republic Bancorp news, Director David P. Feaster sold 1,406 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total value of $93,386.52. Following the transaction, the director now directly owns 4,303 shares in the company, valued at $285,805.26. The trade was a 24.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John T. Rippy sold 3,082 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total transaction of $203,381.18. Following the sale, the executive vice president now owns 23,105 shares of the company’s stock, valued at $1,524,698.95. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. 55.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RBCAA. Mackenzie Financial Corp purchased a new position in shares of Republic Bancorp during the 4th quarter worth approximately $322,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Republic Bancorp during the 4th quarter worth about $70,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Republic Bancorp by 11.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,484 shares of the bank’s stock worth $872,000 after purchasing an additional 1,309 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Republic Bancorp by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the bank’s stock worth $329,000 after acquiring an additional 164 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Republic Bancorp by 41.7% in the 4th quarter. Lazard Asset Management LLC now owns 3,271 shares of the bank’s stock valued at $228,000 after purchasing an additional 962 shares during the last quarter. Hedge funds and other institutional investors own 24.37% of the company’s stock.

About Republic Bancorp

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.