Republic Bancorp (NASDAQ:RBCAA) Sets New 1-Year High – Here’s What Happened

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $102.22 and last traded at $100.8360, with a volume of 28128 shares changing hands. The stock had previously closed at $100.28.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RBCAA shares. Zacks Research upgraded Republic Bancorp to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Hovde Group upped their price objective on Republic Bancorp from $80.00 to $98.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $98.00.

Republic Bancorp Price Performance

The firm has a 50 day moving average of $89.48 and a 200-day moving average of $78.68. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.97 billion, a P/E ratio of 15.48 and a beta of 0.55.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings data on Friday, July 24th. The bank reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.13. The business had revenue of $101.27 million during the quarter, compared to analyst estimates of $97.60 million. Republic Bancorp had a net margin of 25.38% and a return on equity of 11.32%. On average, equities research analysts predict that Republic Bancorp, Inc. will post 6.65 EPS for the current year.

Republic Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 18th will be issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, September 18th. Republic Bancorp’s payout ratio is currently 30.23%.

Insider Buying and Selling at Republic Bancorp

In other news, EVP Anthony T. Powell sold 3,000 shares of Republic Bancorp stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total value of $250,620.00. Following the sale, the executive vice president directly owned 24,691 shares of the company’s stock, valued at approximately $2,062,686.14. The trade was a 10.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Christy Ames sold 340 shares of the business’s stock in a transaction dated 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 owned 6,145 shares in the company, valued at $540,145.50. This represents a 5.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 55.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Republic Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Republic Bancorp by 52.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 23,236 shares of the bank’s stock worth $1,679,000 after buying an additional 8,037 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Republic Bancorp during the first quarter valued at approximately $956,000. Fifth Third Bancorp purchased a new stake in Republic Bancorp in the first quarter worth $384,000. Dimensional Fund Advisors LP lifted its holdings in Republic Bancorp by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 928,367 shares of the bank’s stock valued at $65,496,000 after buying an additional 5,656 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Republic Bancorp by 2.4% in the first quarter. Swiss National Bank now owns 17,200 shares of the bank’s stock valued at $1,213,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 24.37% of the company’s stock.

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.