Republic Bancorp (NASDAQ:RBCAA) Sees Unusually-High Trading Volume – What’s Next?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares saw unusually-strong trading volume on Monday . Approximately 76,152 shares changed hands during mid-day trading, an increase of 1% from the previous session’s volume of 75,239 shares.The stock last traded at $91.3980 and had previously closed at $90.91.

Wall Street Analyst Weigh In

RBCAA has been the topic of a number of research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Zacks Research upgraded 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 one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Republic Bancorp Stock Performance

The firm has a market cap of $1.79 billion, a P/E ratio of 14.09 and a beta of 0.56. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average is $85.26 and its two-hundred day moving average is $76.53.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.63. The firm had revenue of $114.57 million during the quarter, compared to analyst estimates of $96.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%. As a group, equities analysts predict that Republic Bancorp, Inc. will post 6.65 EPS for the current fiscal year.

Republic Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 18th will be issued a dividend of $0.495 per share. The ex-dividend date is Friday, September 18th. This represents a $1.98 annualized dividend and a yield of 2.2%. Republic Bancorp’s dividend payout ratio is 30.56%.

Insiders Place Their Bets

In related news, EVP Christy Ames sold 340 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total value of $29,886.00. Following the completion of the sale, the executive vice president directly owned 6,145 shares of the company’s stock, valued at approximately $540,145.50. This represents a 5.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Anthony T. Powell sold 3,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total value of $250,620.00. Following the transaction, the executive vice president owned 24,691 shares in the company, valued at approximately $2,062,686.14. This trade represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 55.90% of the company’s stock.

Institutional Trading of Republic Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings in Republic Bancorp by 651.0% during the second quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock worth $5,708,000 after purchasing an additional 67,681 shares during the last quarter. Millennium Management LLC grew its position in Republic Bancorp by 172.3% in the 3rd quarter. Millennium Management LLC now owns 63,702 shares of the bank’s stock worth $4,602,000 after purchasing an additional 40,308 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Republic Bancorp in the 3rd quarter valued at about $1,600,000. Goldman Sachs Group Inc. increased its stake in Republic Bancorp by 41.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 60,225 shares of the bank’s stock valued at $4,155,000 after buying an additional 17,709 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of Republic Bancorp by 3,384.5% during the 2nd quarter. Lazard Asset Management LLC now owns 18,154 shares of the bank’s stock worth $1,327,000 after buying an additional 17,633 shares in the last quarter. Hedge funds and other institutional investors own 24.37% of the company’s stock.

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.