Republic Bancorp (NASDAQ:RBCAA) Reaches New 12-Month High – Here’s Why

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $81.05 and last traded at $80.53, with a volume of 22523 shares traded. The stock had previously closed at $79.41.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Republic Bancorp has an average rating of “Moderate Buy”.

Republic Bancorp Trading Up 0.6%

The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.32. The stock’s fifty day moving average price is $73.61 and its two-hundred day moving average price is $71.43. The company has a market capitalization of $1.57 billion, a PE ratio of 12.32 and a beta of 0.57.

Republic Bancorp (NASDAQ:RBCAA) last posted its earnings results on Thursday, April 23rd. The bank reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.63. The company had revenue of $114.57 million during the quarter, compared to analyst estimates of $96.60 million. Republic Bancorp had a net margin of 25.22% and a return on equity of 11.32%.

Republic Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, June 18th will be issued a $0.495 dividend. The ex-dividend date is Thursday, June 18th. This represents a $1.98 annualized dividend and a yield of 2.5%. Republic Bancorp’s dividend payout ratio is 30.56%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in 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. American Century Companies Inc. grew its stake in Republic Bancorp by 11.0% in the third quarter. American Century Companies Inc. now owns 265,298 shares of the bank’s stock worth $19,168,000 after purchasing an additional 26,319 shares during the period. State Street Corp grew its stake in Republic Bancorp by 1.0% in the fourth quarter. State Street Corp now owns 218,872 shares of the bank’s stock worth $15,195,000 after purchasing an additional 2,208 shares during the period. Bridgeway Capital Management LLC grew its stake in Republic Bancorp by 5.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 123,097 shares of the bank’s stock worth $8,492,000 after purchasing an additional 6,189 shares during the period. Finally, Empowered Funds LLC grew its stake in Republic Bancorp by 6.1% in the first quarter. Empowered Funds LLC now owns 78,246 shares of the bank’s stock worth $5,520,000 after purchasing an additional 4,511 shares during the period. 24.37% of the stock is currently 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.