Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase – Still a Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares saw strong trading volume on Thursday . 56,208 shares changed hands during trading, an increase of 152% from the previous session’s volume of 22,291 shares.The stock last traded at $70.66 and had previously closed at $71.21.

Analysts Set New Price Targets

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

Republic Bancorp Stock Down 2.1%

The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.33 billion, a P/E ratio of 13.04 and a beta of 0.51. The business’s fifty day moving average price is $68.41 and its two-hundred day moving average price is $68.24.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $2.42 EPS for the quarter, beating the consensus estimate of $1.86 by $0.56. Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%. The company had revenue of $135.84 million for the quarter, compared to the consensus estimate of $126.90 million.

Republic Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.451 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, June 20th. Republic Bancorp’s dividend payout ratio (DPR) is 29.65%.

Insider Transactions at Republic Bancorp

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

Institutional Trading of Republic Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Republic Bancorp by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the bank’s stock worth $329,000 after purchasing an additional 164 shares during the period. Formidable Asset Management LLC raised its stake in shares of Republic Bancorp by 0.6% in the 1st quarter. Formidable Asset Management LLC now owns 30,382 shares of the bank’s stock valued at $1,939,000 after buying an additional 183 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in shares of Republic Bancorp by 5.1% during the 1st quarter. Hohimer Wealth Management LLC now owns 3,879 shares of the bank’s stock worth $248,000 after acquiring an additional 187 shares during the period. Meridian Wealth Management LLC boosted its position in shares of Republic Bancorp by 3.3% during the 4th quarter. Meridian Wealth Management LLC now owns 6,184 shares of the bank’s stock valued at $432,000 after acquiring an additional 200 shares in the last quarter. Finally, State of Wyoming increased its stake in Republic Bancorp by 34.1% in the first quarter. State of Wyoming now owns 967 shares of the bank’s stock valued at $62,000 after acquiring an additional 246 shares during the period. 24.37% of the stock is currently owned by institutional investors.

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.