Republic Bancorp (NASDAQ:RBCAA) Stock Rating Upgraded by Zacks Research

Republic Bancorp (NASDAQ:RBCAA) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday, Zacks reports.

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

Republic Bancorp Stock Down 1.4%

RBCAA stock opened at $91.18 on Monday. Republic Bancorp has a 12-month low of $63.97 and a 12-month high of $102.22. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.14. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 13.77 and a beta of 0.55. The company has a 50 day moving average of $93.36 and a two-hundred day moving average of $83.50.

Republic Bancorp (NASDAQ:RBCAA) last issued its earnings results on Friday, October 23rd. The bank reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.06). Republic Bancorp had a net margin of 25.33% and a return on equity of 11.20%. The company had revenue of $103.93 million for the quarter, compared to analyst estimates of $100.35 million. On average, equities analysts anticipate that Republic Bancorp will post 6.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Republic Bancorp

In other Republic Bancorp news, EVP Jeff Starke sold 820 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $92.40, for a total value of $75,768.00. Following the completion of the transaction, the executive vice president owned 7,837 shares of the company’s stock, valued at $724,138.80. This represents a 9.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 55.90% of the company’s stock.

Hedge Funds Weigh In On Republic Bancorp

Hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Republic Bancorp during the first quarter worth approximately $956,000. Fifth Third Bancorp bought a new position in Republic Bancorp in the 1st quarter worth approximately $384,000. Dimensional Fund Advisors LP raised its position 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 last quarter. Renaissance Technologies LLC lifted its holdings in Republic Bancorp by 27.2% during the 1st quarter. Renaissance Technologies LLC now owns 46,300 shares of the bank’s stock worth $3,266,000 after buying an additional 9,900 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Republic Bancorp by 29.9% during the 1st quarter. Bank of America Corp DE now owns 16,035 shares of the bank’s stock worth $1,131,000 after buying an additional 3,687 shares in the last quarter. 24.37% of the stock is owned by institutional investors and hedge funds.

About Republic Bancorp

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.