Republic Bancorp (NASDAQ:RBCAA) Posts Earnings Results, Misses Estimates By $0.06 EPS

Republic Bancorp (NASDAQ:RBCAA) issued its earnings results on Friday. The bank reported $1.59 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.06), FiscalAI reports. Republic Bancorp had a net margin of 25.38% and a return on equity of 11.20%. The firm had revenue of $103.93 million during the quarter, compared to analyst estimates of $100.35 million.

Republic Bancorp Stock Down 1.7%

RBCAA traded down $1.55 during trading on Friday, hitting $90.65. 48,335 shares of the company’s stock were exchanged, compared to its average volume of 85,981. Republic Bancorp has a fifty-two week low of $63.97 and a fifty-two week high of $102.22. The stock has a market cap of $1.78 billion, a P/E ratio of 13.84 and a beta of 0.55. The business’s 50 day moving average is $93.98 and its two-hundred day moving average is $87.98. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.14.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on RBCAA shares. Zacks Research raised Republic Bancorp to a “hold” rating in a research note on Monday, July 13th. Raymond James Financial initiated coverage on Republic Bancorp in a report on Wednesday, September 2nd. They issued a “hold” rating on the stock. Weiss Ratings raised Republic Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, October 16th. Finally, Hovde Group boosted their price objective on Republic Bancorp from $80.00 to $98.00 and gave the company a “market perform” rating in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $98.00.

Republic Bancorp Company Profile

Republic Bancorp, Inc is a Louisville, Kentucky-based bank holding company whose principal subsidiary is Republic Bank & Trust Company. The company provides consumer and commercial banking services to individuals, businesses, professionals and institutions.

Republic Bank offers deposit accounts, checking and savings products, consumer and commercial loans, mortgages, treasury management, private banking, wealth management and investment services. Through its Republic Processing Group, the company also provides financial services and processing solutions for tax professionals, including tax refund-related products and services.

Founded in 1974, Republic Bancorp serves customers through banking operations primarily in Kentucky and selected markets in the surrounding region, including Indiana, Ohio, Tennessee and Florida.