Republic Bancorp (NASDAQ:RBCAA) Shares Cross Above 200 Day Moving Average – What’s Next?

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $80.12 and traded as high as $98.15. Republic Bancorp shares last traded at $96.76, with a volume of 77,121 shares traded.

Wall Street Analysts Forecast Growth

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

Republic Bancorp Stock Down 0.6%

The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $92.22 and a 200 day simple moving average of $80.31. The firm has a market capitalization of $1.87 billion, a P/E ratio of 14.58 and a beta of 0.55.

Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, July 24th. The bank reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.13. The firm had revenue of $101.27 million for the quarter, compared to analysts’ expectations of $97.60 million. Republic Bancorp had a return on equity of 11.20% and a net margin of 25.38%. On average, equities analysts expect that Republic Bancorp, Inc. will post 6.65 EPS for the current fiscal year.

Republic Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, September 18th. Republic Bancorp’s dividend payout ratio (DPR) is currently 30.23%.

Insider Activity

In other news, EVP Christy Ames sold 340 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total value of $29,886.00. Following the transaction, the executive vice president owned 6,145 shares in the company, valued at approximately $540,145.50. This represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Anthony T. Powell sold 3,000 shares of the company’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 approximately $2,062,686.14. This represents a 10.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 55.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Republic Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of Republic Bancorp by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 928,367 shares of the bank’s stock worth $65,496,000 after purchasing an additional 5,656 shares in the last quarter. State Street Corp lifted its holdings in shares of Republic Bancorp by 1.0% during the fourth quarter. State Street Corp now owns 218,872 shares of the bank’s stock valued at $15,195,000 after purchasing an additional 2,208 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Republic Bancorp by 5.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 123,097 shares of the bank’s stock valued at $8,492,000 after purchasing an additional 6,189 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Republic Bancorp by 6.1% during the first quarter. Empowered Funds LLC now owns 78,246 shares of the bank’s stock valued at $5,520,000 after buying an additional 4,511 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Republic Bancorp by 651.0% during the second quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock valued at $5,708,000 after buying an additional 67,681 shares during the last quarter. 24.37% of the stock is 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.