Republic Bancorp, Inc. KY (RBCAA) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Republic Bancorp, Inc. KY (NASDAQ:RBCAA) from a buy rating to a hold rating in a research report sent to investors on Wednesday, January 10th.

According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “

RBCAA has been the subject of a number of other research reports. Hovde Group cut shares of Republic Bancorp, Inc. KY from an outperform rating to a market perform rating and increased their price objective for the company from $39.00 to $41.00 in a research note on Wednesday, October 4th. ValuEngine cut shares of Republic Bancorp, Inc. KY from a buy rating to a hold rating in a research note on Saturday, November 25th. Finally, BidaskClub lowered shares of Republic Bancorp, Inc. KY from a hold rating to a sell rating in a report on Friday, December 29th.

Republic Bancorp, Inc. KY (RBCAA) opened at $39.92 on Wednesday. The company has a market cap of $832.48, a price-to-earnings ratio of 16.43 and a beta of 0.53. Republic Bancorp, Inc. KY has a one year low of $31.97 and a one year high of $44.04. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.21 and a current ratio of 1.21.

Republic Bancorp, Inc. KY (NASDAQ:RBCAA) last released its earnings results on Friday, October 20th. The bank reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. Republic Bancorp, Inc. KY had a net margin of 19.02% and a return on equity of 8.18%. The firm had revenue of $58.68 million during the quarter. equities analysts predict that Republic Bancorp, Inc. KY will post 2.44 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, December 14th. Republic Bancorp, Inc. KY’s dividend payout ratio is currently 36.21%.

In other news, EVP Steven E. Deweese sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $41.00, for a total value of $287,000.00. Following the transaction, the executive vice president now owns 34,115 shares of the company’s stock, valued at approximately $1,398,715. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 7,307 shares of company stock worth $299,873 in the last ninety days. Insiders own 52.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Republic Bancorp, Inc. KY by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 769,928 shares of the bank’s stock valued at $27,487,000 after acquiring an additional 22,745 shares during the period. Menta Capital LLC raised its position in shares of Republic Bancorp, Inc. KY by 106.5% in the 2nd quarter. Menta Capital LLC now owns 38,238 shares of the bank’s stock valued at $1,365,000 after acquiring an additional 19,722 shares during the period. Northern Trust Corp raised its position in shares of Republic Bancorp, Inc. KY by 10.7% in the 2nd quarter. Northern Trust Corp now owns 136,694 shares of the bank’s stock valued at $4,880,000 after acquiring an additional 13,224 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of Republic Bancorp, Inc. KY in the 3rd quarter valued at approximately $510,000. Finally, State Street Corp raised its position in shares of Republic Bancorp, Inc. KY by 6.9% in the 2nd quarter. State Street Corp now owns 184,000 shares of the bank’s stock valued at $6,570,000 after acquiring an additional 11,848 shares during the period. 24.42% of the stock is currently owned by institutional investors.

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About Republic Bancorp, Inc. KY

Republic Bancorp, Inc is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc (the Captive). The Bank is a Kentucky-based, state chartered non-member financial institution. The Captive is an insurance subsidiary of the Company. The Company operates through four segments: Traditional Banking, which provides traditional banking products to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the United States through mortgage warehouse lines of credit; Mortgage Banking, which originates, sells and services long-term, single family, first lien residential real estate loans, and Republic Processing Group (RPG), which facilitates the receipt and payment of federal and state tax refund products.

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