PNC Financial Services Group Inc. Increases Stock Holdings in Republic Bancorp, Inc. $RBCAA

PNC Financial Services Group Inc. boosted its stake in Republic Bancorp, Inc. (NASDAQ:RBCAA) by 7,500.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,200 shares of the bank’s stock after buying an additional 15,000 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.08% of Republic Bancorp worth $1,098,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. CWM LLC boosted its holdings in Republic Bancorp by 68.0% during the 2nd quarter. CWM LLC now owns 608 shares of the bank’s stock worth $44,000 after acquiring an additional 246 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Republic Bancorp during the third quarter valued at about $50,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Republic Bancorp during the third quarter worth about $60,000. Quent Capital LLC purchased a new position in Republic Bancorp during the third quarter worth about $73,000. Finally, Raymond James Financial Inc. bought a new stake in Republic Bancorp in the 2nd quarter worth about $121,000. 24.37% of the stock is currently owned by institutional investors.

Republic Bancorp Stock Down 0.4%

RBCAA stock opened at $69.14 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.05 and a current ratio of 1.06. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.29 and a beta of 0.60. Republic Bancorp, Inc. has a fifty-two week low of $56.79 and a fifty-two week high of $78.25. The stock has a fifty day moving average of $71.45 and a 200-day moving average of $71.31.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Friday, January 30th. The bank reported $1.17 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.13). The business had revenue of $94.27 million for the quarter, compared to analysts’ expectations of $92.50 million. Republic Bancorp had a net margin of 25.19% and a return on equity of 12.39%.

Republic Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 20th will be paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, March 20th. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.45. Republic Bancorp’s dividend payout ratio is currently 29.46%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a research note on Thursday, January 22nd. Wall Street Zen cut Republic Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Republic Bancorp presently has a consensus rating of “Hold” and an average price target of $69.00.

About Republic Bancorp

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.