Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase – Still a Buy?

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) saw an uptick in trading volume on Tuesday . 67,498 shares traded hands during mid-day trading, a decline of 8% from the previous session’s volume of 72,981 shares.The stock last traded at $91.68 and had previously closed at $91.09.

Analysts Set New Price Targets

Several research analysts have weighed in on RBCAA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Republic Bancorp presently has a consensus rating of “Buy”.

Republic Bancorp Price Performance

The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average price is $82.83 and its 200 day moving average price is $75.29. The company has a market capitalization of $1.72 billion, a P/E ratio of 13.54 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.63. The business had revenue of $114.57 million during the quarter, compared to analysts’ expectations of $96.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.

Republic Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, June 18th. Republic Bancorp’s dividend payout ratio is presently 30.56%.

Insiders Place Their Bets

In related news, EVP Christy Ames sold 340 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $87.90, for a total value of $29,886.00. Following the completion of the transaction, the executive vice president owned 6,145 shares of the company’s stock, valued at $540,145.50. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony T. Powell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total transaction of $250,620.00. Following the sale, the executive vice president directly owned 24,691 shares of the company’s stock, valued at $2,062,686.14. This represents a 10.83% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 55.90% of the company’s stock.

Hedge Funds Weigh In On Republic Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Republic Bancorp during the 3rd quarter worth approximately $27,000. Russell Investments Group Ltd. raised its position in Republic Bancorp by 2,561.3% during the third quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock valued at $60,000 after purchasing an additional 794 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Republic Bancorp during the second quarter valued at approximately $121,000. CANADA LIFE ASSURANCE Co lifted its stake in Republic Bancorp by 541.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock worth $121,000 after purchasing an additional 1,483 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Republic Bancorp by 46.4% during the second quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after purchasing an additional 598 shares during the last quarter. 24.37% of the stock is currently owned by institutional investors and hedge funds.

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.