Republic Bancorp, Inc. (NASDAQ:RBCAA) Sees Large Decline in Short Interest

Republic Bancorp, Inc. (NASDAQ:RBCAA) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 83,541 shares, a drop of 19.6% from the January 15th total of 103,853 shares. Based on an average trading volume of 31,916 shares, the short-interest ratio is currently 2.6 days. Approximately 1.0% of the shares of the stock are sold short. Approximately 1.0% of the shares of the stock are sold short. Based on an average trading volume of 31,916 shares, the short-interest ratio is currently 2.6 days.

Republic Bancorp Price Performance

NASDAQ RBCAA opened at $72.30 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35. Republic Bancorp has a 1 year low of $56.79 and a 1 year high of $78.25. The company has a fifty day simple moving average of $71.63 and a 200 day simple moving average of $71.16. The company has a market cap of $1.41 billion, a P/E ratio of 10.76 and a beta of 0.60.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Friday, January 30th. The bank reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.13). Republic Bancorp had a return on equity of 12.39% and a net margin of 25.19%.The company had revenue of $94.27 million during the quarter, compared to analyst estimates of $92.50 million.

Republic Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 20th will be issued a $0.495 dividend. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, March 20th. This represents a $1.98 annualized dividend and a yield of 2.7%. Republic Bancorp’s payout ratio is presently 29.46%.

Analyst Ratings Changes

A number of brokerages have recently commented on RBCAA. Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a report on Thursday, January 22nd. Wall Street Zen cut shares of Republic Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.00.

Hedge Funds Weigh In On Republic Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of RBCAA. Quarry LP acquired a new position in Republic Bancorp in the third quarter valued at about $27,000. CWM LLC raised its stake in shares of Republic Bancorp by 68.0% in the second quarter. CWM LLC now owns 608 shares of the bank’s stock valued at $44,000 after acquiring an additional 246 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Republic Bancorp in the 3rd quarter worth approximately $50,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Republic Bancorp during the 3rd quarter worth approximately $60,000. Finally, Russell Investments Group Ltd. increased its holdings in Republic Bancorp by 2,561.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock valued at $60,000 after purchasing an additional 794 shares in the last quarter. Institutional investors own 24.37% of the company’s stock.

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.