Republic Bancorp, Inc. (RBCAA) Raised to Buy at Zacks Investment Research

Republic Bancorp, Inc. (NASDAQ:RBCAA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, September 9th. The brokerage presently has a $39.00 price target on the bank’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 8.03% from the stock’s current price.

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

Separately, BidaskClub cut shares of Republic Bancorp from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 8th.

Republic Bancorp (NASDAQ:RBCAA) opened at 36.10 on Friday. The stock has a market cap of $752.97 million, a P/E ratio of 15.17 and a beta of 0.49. The company has a 50-day moving average price of $34.96 and a 200-day moving average price of $35.01. Republic Bancorp has a one year low of $28.56 and a one year high of $40.74.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. The company had revenue of $56.06 million for the quarter. Republic Bancorp had a return on equity of 8.14% and a net margin of 19.33%. On average, analysts anticipate that Republic Bancorp will post $2.34 earnings per share for the current year.

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In related news, EVP Steven E. Deweese sold 1,115 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $35.49, for a total value of $39,571.35. Following the completion of the transaction, the executive vice president now owns 41,630 shares in the company, valued at approximately $1,477,448.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven E. Deweese sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $34.50, for a total transaction of $34,500.00. Following the completion of the transaction, the executive vice president now owns 42,230 shares of the company’s stock, valued at approximately $1,456,935. The disclosure for this sale can be found here. Insiders own 52.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Formidable Asset Management LLC raised its position in Republic Bancorp by 1.1% in the 1st quarter. Formidable Asset Management LLC now owns 24,585 shares of the bank’s stock worth $885,000 after purchasing an additional 278 shares during the last quarter. Glenview Trust Co raised its position in Republic Bancorp by 1.8% in the 1st quarter. Glenview Trust Co now owns 17,248 shares of the bank’s stock worth $593,000 after purchasing an additional 300 shares during the last quarter. First Trust Advisors LP raised its position in Republic Bancorp by 0.8% in the 1st quarter. First Trust Advisors LP now owns 41,570 shares of the bank’s stock worth $1,430,000 after purchasing an additional 346 shares during the last quarter. American International Group Inc. raised its position in Republic Bancorp by 7.1% in the 1st quarter. American International Group Inc. now owns 5,947 shares of the bank’s stock worth $205,000 after purchasing an additional 392 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Republic Bancorp by 0.4% in the 1st quarter. Bank of America Corp DE now owns 93,652 shares of the bank’s stock worth $3,221,000 after purchasing an additional 414 shares during the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.

About Republic Bancorp

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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