Republic Bancorp, Inc. (NASDAQ:RBCAA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, July 12th.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Separately, Hovde Group upgraded shares of Republic Bancorp from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research report on Wednesday, March 29th.
Republic Bancorp (NASDAQ RBCAA) traded up 2.34% during mid-day trading on Wednesday, reaching $35.03. 13,805 shares of the company were exchanged. The company’s 50 day moving average price is $35.63 and its 200-day moving average price is $35.22. The stock has a market capitalization of $730.62 million, a price-to-earnings ratio of 14.72 and a beta of 0.48. Republic Bancorp has a 12-month low of $28.56 and a 12-month high of $40.74.
Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.48 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. The company had revenue of $56.06 million for the quarter. Republic Bancorp had a net margin of 19.33% and a return on equity of 8.20%. On average, equities research analysts forecast that Republic Bancorp will post $2.34 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Glenview Trust Co raised its stake in Republic Bancorp by 1.8% in the first quarter. Glenview Trust Co now owns 17,248 shares of the bank’s stock worth $593,000 after buying an additional 300 shares during the period. Outfitter Advisors LTD. raised its stake in Republic Bancorp by 2.0% in the first quarter. Outfitter Advisors LTD. now owns 50,725 shares of the bank’s stock worth $1,744,000 after buying an additional 1,000 shares during the period. TFS Capital LLC raised its stake in Republic Bancorp by 46.1% in the first quarter. TFS Capital LLC now owns 7,599 shares of the bank’s stock worth $261,000 after buying an additional 2,398 shares during the period. Bank of New York Mellon Corp raised its stake in Republic Bancorp by 8.1% in the first quarter. Bank of New York Mellon Corp now owns 92,746 shares of the bank’s stock worth $3,190,000 after buying an additional 6,978 shares during the period. Finally, First Trust Advisors LP raised its stake in Republic Bancorp by 0.8% in the first quarter. First Trust Advisors LP now owns 41,570 shares of the bank’s stock worth $1,430,000 after buying an additional 346 shares during the period. Institutional investors and hedge funds own 25.97% 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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