Republic Bancorp (NASDAQ:RBCAA) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Republic Bancorp (NASDAQ:RBCAA) to a hold rating in a research report released on Monday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. Wall Street Zen raised Republic Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Republic Bancorp Stock Up 0.1%

Shares of RBCAA stock opened at $88.48 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 1.05. Republic Bancorp has a one year low of $63.97 and a one year high of $93.54. The company’s fifty day moving average price is $83.83 and its 200-day moving average price is $75.78. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 13.65 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.63. The business had revenue of $114.57 million during the quarter, compared to analyst estimates of $96.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%. Sell-side analysts expect that Republic Bancorp will post 6.65 EPS for the current fiscal year.

Republic Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, June 18th will be issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, June 18th. Republic Bancorp’s dividend payout ratio is 30.56%.

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, EVP Anthony T. Powell sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total transaction of $250,620.00. Following the completion of the transaction, the executive vice president owned 24,691 shares in the company, valued at $2,062,686.14. This trade represents a 10.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christy Ames sold 340 shares of Republic Bancorp stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total value of $29,886.00. Following the completion of the sale, the executive vice president directly owned 6,145 shares in the company, valued at approximately $540,145.50. The trade was a 5.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 55.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Republic Bancorp by 52.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,236 shares of the bank’s stock valued at $1,679,000 after purchasing an additional 8,037 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Republic Bancorp during the 1st quarter valued at $956,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in Republic Bancorp by 22.6% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,444 shares of the bank’s stock worth $314,000 after buying an additional 820 shares during the last quarter. Fifth Third Bancorp bought a new stake in Republic Bancorp in the first quarter worth $384,000. Finally, Formidable Asset Management LLC boosted its stake in Republic Bancorp by 0.6% during the fourth quarter. Formidable Asset Management LLC now owns 30,776 shares of the bank’s stock worth $2,224,000 after buying an additional 184 shares during the period. 24.37% of the stock is currently owned by institutional investors.

Republic Bancorp Company Profile

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.