Republic Bancorp (NASDAQ:RBCAA) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Republic Bancorp (NASDAQ:RBCAA) posted its earnings results on Friday. The bank reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.13), FiscalAI reports. The firm had revenue of $94.27 million during the quarter, compared to the consensus estimate of $92.50 million. Republic Bancorp had a net margin of 24.53% and a return on equity of 12.23%.

Republic Bancorp Trading Up 0.2%

Shares of NASDAQ:RBCAA traded up $0.14 during trading on Friday, hitting $71.54. 19,181 shares of the company’s stock were exchanged, compared to its average volume of 34,764. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.40 billion, a P/E ratio of 10.97 and a beta of 0.60. The firm has a 50-day moving average price of $70.68 and a two-hundred day moving average price of $71.22. Republic Bancorp has a 1-year low of $56.79 and a 1-year high of $78.25.

Republic Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, March 20th will be given a dividend of $0.495 per share. The ex-dividend date is Friday, March 20th. This represents a $1.98 annualized dividend and a dividend yield of 2.8%. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.45. Republic Bancorp’s dividend payout ratio is presently 27.57%.

Institutional Trading of Republic Bancorp

A number of institutional investors have recently bought and sold shares of RBCAA. Quarry LP bought a new position in shares of Republic Bancorp in the 3rd quarter worth $27,000. Russell Investments Group Ltd. boosted its holdings in Republic Bancorp by 2,561.3% during the third quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock worth $60,000 after buying an additional 794 shares during the last quarter. Raymond James Financial Inc. bought a new position in Republic Bancorp during the second quarter worth about $121,000. BNP Paribas Financial Markets grew its position in shares of Republic Bancorp by 46.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after buying an additional 598 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of Republic Bancorp by 125.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,279 shares of the bank’s stock valued at $167,000 after acquiring an additional 1,268 shares during the last quarter. Institutional investors and hedge funds own 24.37% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $69.00.

About Republic Bancorp

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.