Republic Bancorp (NASDAQ:RBCAA) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Republic Bancorp (NASDAQ:RBCAA) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks reports.

Several other equities research analysts have also issued reports on RBCAA. Hovde Group raised their price target on shares of Republic Bancorp from $80.00 to $98.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings raised Republic Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 16th. Finally, Raymond James Financial initiated coverage on Republic Bancorp in a research report on Wednesday, September 2nd. They issued a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Republic Bancorp Trading Down 1.4%

NASDAQ RBCAA opened at $91.18 on Monday. The business’s fifty day moving average is $93.36 and its 200-day moving average is $83.50. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 13.77 and a beta of 0.55. Republic Bancorp has a one year low of $63.97 and a one year high of $102.22.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Friday, October 23rd. The bank reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.06). The company had revenue of $103.93 million for the quarter, compared to the consensus estimate of $100.35 million. Republic Bancorp had a net margin of 25.33% and a return on equity of 11.20%. Equities research analysts predict that Republic Bancorp will post 6.98 EPS for the current year.

Insider Activity

In related news, EVP Jeff Starke sold 820 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $92.40, for a total transaction of $75,768.00. Following the sale, the executive vice president directly owned 7,837 shares in the company, valued at approximately $724,138.80. This represents a 9.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 55.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Republic Bancorp

Several institutional investors have recently made changes to their positions in RBCAA. Dimensional Fund Advisors LP boosted its stake in Republic Bancorp by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 928,367 shares of the bank’s stock worth $65,496,000 after purchasing an additional 5,656 shares during the period. Empowered Funds LLC grew its holdings in Republic Bancorp by 6.1% during the 1st 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 in the last quarter. Renaissance Technologies LLC increased its position in shares of Republic Bancorp by 27.2% during the first quarter. Renaissance Technologies LLC now owns 46,300 shares of the bank’s stock valued at $3,266,000 after buying an additional 9,900 shares during the period. Formidable Asset Management LLC increased its position in shares of Republic Bancorp by 0.7% during the third quarter. Formidable Asset Management LLC now owns 31,372 shares of the bank’s stock valued at $2,837,000 after buying an additional 210 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of Republic Bancorp by 10.4% in the first quarter. Lazard Asset Management LLC now owns 22,702 shares of the bank’s stock worth $1,602,000 after buying an additional 2,136 shares in the last quarter. Hedge funds and other institutional investors own 24.37% of the company’s stock.

Republic Bancorp Company Profile

Republic Bancorp, Inc is a Louisville, Kentucky-based bank holding company whose principal subsidiary is Republic Bank & Trust Company. The company provides consumer and commercial banking services to individuals, businesses, professionals and institutions.

Republic Bank offers deposit accounts, checking and savings products, consumer and commercial loans, mortgages, treasury management, private banking, wealth management and investment services. Through its Republic Processing Group, the company also provides financial services and processing solutions for tax professionals, including tax refund-related products and services.

Founded in 1974, Republic Bancorp serves customers through banking operations primarily in Kentucky and selected markets in the surrounding region, including Indiana, Ohio, Tennessee and Florida.