Republic Bancorp (NASDAQ:RBCAA) Reaches New 52-Week High – Here’s What Happened

Republic Bancorp, Inc. (NASDAQ:RBCAA) reached a new 52-week high on Thursday . The stock traded as high as $102.00 and last traded at $99.75, with a volume of 172527 shares changing hands. The stock had previously closed at $100.64.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RBCAA. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. Wall Street Zen raised Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Hovde Group raised their price objective on shares of Republic Bancorp from $80.00 to $98.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Zacks Research upgraded shares of Republic Bancorp to a “hold” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Republic Bancorp presently has a consensus rating of “Hold” and a consensus price target of $98.00.

Republic Bancorp Stock Up 1.1%

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 1.05. The company has a market capitalization of $1.95 billion, a P/E ratio of 15.20 and a beta of 0.56. The stock has a 50-day moving average price of $88.26 and a 200-day moving average price of $78.01.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Friday, July 24th. The bank reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.13. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.38%.The company had revenue of $101.27 million for the quarter, compared to analyst estimates of $97.60 million. On average, research analysts predict that Republic Bancorp, Inc. will post 6.65 EPS for the current fiscal year.

Republic Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 18th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.98 annualized dividend and a yield of 2.0%. Republic Bancorp’s payout ratio is 30.23%.

Insider Activity at Republic Bancorp

In other Republic Bancorp news, EVP Anthony T. Powell sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total transaction of $250,620.00. Following the transaction, the executive vice president directly owned 24,691 shares in the company, valued at approximately $2,062,686.14. This represents a 10.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christy Ames sold 340 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 6,145 shares of the company’s stock, valued at approximately $540,145.50. This trade represents a 5.24% decrease in their position. The SEC filing for this sale provides additional information. 55.90% of the stock is currently owned by insiders.

Institutional Trading of Republic Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBCAA. JPMorgan Chase & Co. increased its stake in Republic Bancorp by 52.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,236 shares of the bank’s stock valued at $1,679,000 after purchasing an additional 8,037 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Republic Bancorp in the first quarter valued at $956,000. Fifth Third Bancorp bought a new position in shares of Republic Bancorp in the first quarter valued at $384,000. Dimensional Fund Advisors LP grew its holdings in shares of Republic Bancorp by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 928,367 shares of the bank’s stock valued at $65,496,000 after buying an additional 5,656 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Republic Bancorp by 6.1% during the first quarter. Empowered Funds LLC now owns 78,246 shares of the bank’s stock valued at $5,520,000 after buying an additional 4,511 shares during the last quarter. 24.37% of the stock is owned by institutional investors.

Republic Bancorp Company Profile

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.