Short Interest in Republic Bancorp, Inc. (NASDAQ:RBCAA) Expands By 26.2%

Republic Bancorp, Inc. (NASDAQ:RBCAA) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 127,034 shares, an increase of 26.2% from the February 26th total of 100,659 shares. Based on an average trading volume of 57,917 shares, the short-interest ratio is presently 2.2 days. Approximately 1.5% of the shares of the company are sold short.

Analyst Ratings Changes

Several brokerages have issued reports on RBCAA. Wall Street Zen lowered Republic Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. Weiss Ratings reissued 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 given a Hold rating to the company. Based on data from MarketBeat, Republic Bancorp has an average rating of “Hold” and an average target price of $69.00.

Republic Bancorp Stock Performance

RBCAA stock traded up $0.54 on Monday, hitting $69.75. The company’s stock had a trading volume of 102,839 shares, compared to its average volume of 50,467. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 10.38 and a beta of 0.59. The firm has a 50 day moving average of $70.82 and a two-hundred day moving average of $70.38. The company has a current ratio of 1.08, a quick ratio of 1.05 and a debt-to-equity ratio of 0.46. Republic Bancorp has a 1 year low of $56.79 and a 1 year high of $78.25.

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). The business had revenue of $94.27 million for the quarter, compared to analysts’ expectations of $92.50 million. Republic Bancorp had a return on equity of 12.27% and a net margin of 25.19%.

Republic Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors 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 2.8%. The ex-dividend date of this dividend is Friday, March 20th. Republic Bancorp’s dividend payout ratio is 29.46%.

Institutional Trading of Republic Bancorp

A number of hedge funds have recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV lifted its position in Republic Bancorp by 93.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 42,930 shares of the bank’s stock worth $2,964,000 after acquiring an additional 20,781 shares during the period. Empowered Funds LLC raised its stake in shares of Republic Bancorp by 9.2% during the fourth quarter. Empowered Funds LLC now owns 73,735 shares of the bank’s stock worth $5,087,000 after purchasing an additional 6,189 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Republic Bancorp during the fourth quarter worth approximately $1,102,000. Inspire Investing LLC lifted its holdings in shares of Republic Bancorp by 8.1% during the fourth quarter. Inspire Investing LLC now owns 6,952 shares of the bank’s stock worth $480,000 after purchasing an additional 522 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Republic Bancorp by 5.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 123,097 shares of the bank’s stock worth $8,492,000 after purchasing an additional 6,189 shares during the period. 24.37% of the stock is owned by institutional investors and hedge funds.

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.