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

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares saw unusually-strong trading volume on Monday . Approximately 59,860 shares traded hands during mid-day trading, an increase of 72% from the previous session’s volume of 34,767 shares.The stock last traded at $69.8770 and had previously closed at $71.88.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen cut Republic Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $69.00.

Republic Bancorp Price Performance

The company’s 50-day moving average price is $71.64 and its two-hundred day moving average price is $71.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.06 and a quick ratio of 1.05. The company has a market capitalization of $1.36 billion, a P/E ratio of 10.33 and a beta of 0.60.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings data on Friday, January 30th. The bank reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.13). Republic Bancorp had a return on equity of 12.39% and a net margin of 25.19%.The company had revenue of $94.27 million for the quarter, compared to analyst estimates of $92.50 million.

Republic Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, March 20th will be issued a dividend of $0.495 per share. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.45. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, March 20th. Republic Bancorp’s payout ratio is 26.79%.

Hedge Funds Weigh In On Republic Bancorp

Hedge funds have recently bought and sold shares of the business. Formidable Asset Management LLC grew its position in shares of Republic Bancorp by 0.6% during the 4th quarter. Formidable Asset Management LLC now owns 30,776 shares of the bank’s stock worth $2,224,000 after purchasing an additional 184 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Republic Bancorp by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,072 shares of the bank’s stock valued at $371,000 after buying an additional 187 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Republic Bancorp by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank’s stock worth $316,000 after buying an additional 234 shares in the last quarter. Denali Advisors LLC increased its stake in Republic Bancorp by 0.9% during the 3rd quarter. Denali Advisors LLC now owns 25,700 shares of the bank’s stock worth $1,857,000 after acquiring an additional 236 shares during the period. Finally, CWM LLC increased its stake in Republic Bancorp by 68.0% during the 2nd quarter. CWM LLC now owns 608 shares of the bank’s stock worth $44,000 after acquiring an additional 246 shares during the period. 24.37% of the stock is owned by institutional investors.

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.