Republic Bancorp (NASDAQ:RBCAA) Stock Price Expected to Rise, Hovde Group Analyst Says

Republic Bancorp (NASDAQ:RBCAA) had its price objective raised by research analysts at Hovde Group from $80.00 to $98.00 in a report released on Monday. The brokerage presently has a “market perform” rating on the bank’s stock. Hovde Group’s price target points to a potential upside of 4.67% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. Wall Street Zen raised Republic Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Zacks Research raised shares of Republic Bancorp to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $98.00.

Republic Bancorp Stock Performance

NASDAQ:RBCAA opened at $93.63 on Monday. Republic Bancorp has a 1 year low of $63.97 and a 1 year high of $94.31. The firm has a 50 day moving average of $86.20 and a 200-day moving average of $77.02. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.84 billion, a P/E ratio of 14.29 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings results 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 business had revenue of $101.27 million for the quarter, compared to analyst estimates of $97.60 million. As a group, sell-side analysts anticipate that Republic Bancorp will post 6.65 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Quarry LP bought a new position in shares of Republic Bancorp in the 3rd quarter worth $27,000. Russell Investments Group Ltd. increased its holdings in Republic Bancorp by 2,561.3% in 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Republic Bancorp in the second quarter valued at about $121,000. CANADA LIFE ASSURANCE Co lifted its stake in Republic Bancorp by 541.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock valued at $121,000 after buying an additional 1,483 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings 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 buying an additional 598 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.