Republic Bancorp (NASDAQ:RBCAA) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Republic Bancorp (NASDAQ:RBCAA) announced its quarterly earnings data on Friday. The bank reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.13, FiscalAI reports. Republic Bancorp had a net margin of 25.22% and a return on equity of 11.32%. The company had revenue of $101.27 million for the quarter, compared to analysts’ expectations of $97.60 million.

Republic Bancorp Stock Up 2.9%

Shares of NASDAQ:RBCAA traded up $2.62 during midday trading on Friday, hitting $93.39. 28,886 shares of the stock were exchanged, compared to its average volume of 76,845. The business’s fifty day simple moving average is $85.83 and its two-hundred day simple moving average is $76.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.06. Republic Bancorp has a 52-week low of $63.97 and a 52-week high of $93.85. The company has a market capitalization of $1.83 billion, a PE ratio of 14.41 and a beta of 0.56.

Republic Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 18th will be given a dividend of $0.495 per share. The ex-dividend date is Friday, September 18th. This represents a $1.98 dividend on an annualized basis and a yield of 2.1%. Republic Bancorp’s dividend payout ratio (DPR) is presently 30.56%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RBCAA. Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a report on Tuesday, June 9th. Zacks Research upgraded Republic Bancorp to a “hold” rating in a research report on Monday, July 13th. Finally, Wall Street Zen raised Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, EVP Anthony T. Powell sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total value of $250,620.00. Following the completion of the sale, the executive vice president directly owned 24,691 shares of the company’s stock, valued at $2,062,686.14. The trade was a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christy Ames sold 340 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total transaction of $29,886.00. Following the transaction, the executive vice president owned 6,145 shares in the company, valued at approximately $540,145.50. This trade represents a 5.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 55.90% of the stock is owned by company insiders.

Institutional Trading of Republic Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in RBCAA. First Trust Advisors LP grew its stake in Republic Bancorp by 651.0% in the 2nd quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock valued at $5,708,000 after buying an additional 67,681 shares during the last quarter. Millennium Management LLC lifted its position in Republic Bancorp by 172.3% during the 3rd quarter. Millennium Management LLC now owns 63,702 shares of the bank’s stock worth $4,602,000 after acquiring an additional 40,308 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Republic Bancorp during the third quarter valued at about $1,600,000. Goldman Sachs Group Inc. grew its position in shares of Republic Bancorp by 41.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 60,225 shares of the bank’s stock valued at $4,155,000 after purchasing an additional 17,709 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of Republic Bancorp by 3,384.5% in the second quarter. Lazard Asset Management LLC now owns 18,154 shares of the bank’s stock valued at $1,327,000 after purchasing an additional 17,633 shares during the last quarter. Institutional investors and hedge funds own 24.37% of the company’s stock.

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.