Bank of New York Mellon Corp increased its stake in Republic Bancorp Inc. (NASDAQ:RBCAA) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,929 shares of the company’s stock after buying an additional 4,604 shares during the period. Bank of New York Mellon Corp owned approximately 0.40% of Republic Bancorp worth $2,291,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the company. AXA boosted its stake in shares of Republic Bancorp by 312.7% in the first quarter. AXA now owns 26,000 shares of the company’s stock valued at $672,000 after buying an additional 19,700 shares during the period. Stadium Capital Management LLC boosted its stake in shares of Republic Bancorp by 19.0% in the first quarter. Stadium Capital Management LLC now owns 442,776 shares of the company’s stock valued at $11,437,000 after buying an additional 70,745 shares during the period. State Street Corp boosted its stake in shares of Republic Bancorp by 0.4% in the first quarter. State Street Corp now owns 164,142 shares of the company’s stock valued at $4,241,000 after buying an additional 673 shares during the period. Virginia Retirement System acquired a new stake in shares of Republic Bancorp during the first quarter valued at approximately $332,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Republic Bancorp by 6.1% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,452 shares of the company’s stock valued at $270,000 after buying an additional 600 shares during the period. 24.31% of the stock is owned by institutional investors and hedge funds.
Republic Bancorp Inc. (NASDAQ:RBCAA) traded up 0.19% during trading on Wednesday, reaching $31.67. The company’s stock had a trading volume of 21,463 shares. The firm has a market cap of $660.70 million, a P/E ratio of 16.96 and a beta of 0.72. Republic Bancorp Inc. has a 52 week low of $23.00 and a 52 week high of $33.26. The stock’s 50 day moving average is $31.15 and its 200-day moving average is $28.53.
Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. Republic Bancorp had a return on equity of 6.70% and a net margin of 18.78%. On average, equities research analysts forecast that Republic Bancorp Inc. will post $2.04 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, September 16th will be paid a $0.209 dividend. This represents a $0.84 annualized dividend and a yield of 2.64%. The ex-dividend date is Wednesday, September 14th. Republic Bancorp’s payout ratio is 44.68%.
Separately, Zacks Investment Research upgraded Republic Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a report on Tuesday, August 16th.
About Republic Bancorp
Republic Bancorp, Inc (Republic) 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. It operates in four segments: Traditional Banking, which provides traditional banking products primarily to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the Nation; 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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