Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase – Here’s Why

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) saw an uptick in trading volume on Monday . 19,400 shares changed hands during mid-day trading, a decline of 16% from the previous session’s volume of 22,979 shares.The stock last traded at $66.70 and had previously closed at $67.80.

Analyst Upgrades and Downgrades

Separately, Hovde Group dropped their target price on shares of Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating for the company in a report on Monday, January 27th.

Republic Bancorp Price Performance

The firm’s fifty day simple moving average is $69.86 and its 200-day simple moving average is $67.58. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.32 billion, a PE ratio of 13.02 and a beta of 0.54.

Republic Bancorp (NASDAQ:RBCAA) last issued its earnings results on Friday, January 24th. The bank reported $0.98 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Republic Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.451 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.65%. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. Republic Bancorp’s payout ratio is presently 34.42%.

Insider Activity

In related news, Director David P. Feaster sold 1,406 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total transaction of $93,386.52. Following the completion of the transaction, the director now directly owns 4,303 shares in the company, valued at approximately $285,805.26. The trade was a 24.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John T. Rippy sold 3,082 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total transaction of $203,381.18. Following the completion of the sale, the executive vice president now directly owns 23,105 shares of the company’s stock, valued at $1,524,698.95. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,984 shares of company stock valued at $409,910 in the last ninety days. 56.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Republic Bancorp

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of Republic Bancorp during the 3rd quarter valued at about $205,000. Creative Planning purchased a new stake in shares of Republic Bancorp in the third quarter worth about $261,000. SeaCrest Wealth Management LLC bought a new position in Republic Bancorp during the third quarter valued at approximately $208,000. Los Angeles Capital Management LLC grew its holdings in Republic Bancorp by 50.1% during the 3rd quarter. Los Angeles Capital Management LLC now owns 31,822 shares of the bank’s stock valued at $2,078,000 after buying an additional 10,617 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Republic Bancorp by 2.0% in the 3rd quarter. Empowered Funds LLC now owns 61,825 shares of the bank’s stock worth $4,037,000 after acquiring an additional 1,204 shares during the last quarter. Institutional investors own 24.37% of the company’s stock.

Republic Bancorp Company Profile

Republic Bancorp, Inc operates as a bank holding company for Republic Bank & Trust Company that provides various banking products and services in the United States. It operates in six segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions.