Republic Bancorp (NASDAQ:RBCAA) Earns Market Perform Rating from Analysts at Raymond James Financial

Key Points

• Raymond James initiated coverage of Republic Bancorp with a “market perform” rating. Analysts collectively rate the stock “Hold,” with an average price target of $98.00.
• Republic Bancorp reported quarterly EPS of $1.68, exceeding the $1.55 consensus estimate, while revenue of $101.27 million also surpassed expectations.
• The stock traded near $94.67, with a market capitalization of $1.86 billion. Insiders own 55.90% of shares, while institutional investors and hedge funds own 24.37%.

Raymond James Financial began coverage on shares of Republic Bancorp (NASDAQ:RBCAA - Get Free Report) in a research note issued to investors on Wednesday. The firm set a "market perform" rating on the bank's stock.

Several other research analysts have also commented on RBCAA. Hovde Group raised their price target on shares of Republic Bancorp from $80.00 to $98.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. Finally, Zacks Research raised shares of Republic Bancorp to a "hold" rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Republic Bancorp currently has an average rating of "Hold" and an average target price of $98.00.

Republic Bancorp Trading Down 0.0%

RBCAA stock traded down $0.04 during trading on Wednesday, reaching $94.67. 2,446 shares of the stock traded hands, compared to its average volume of 80,932. The firm has a market capitalization of $1.86 billion, a PE ratio of 14.48 and a beta of 0.54. 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 business's 50 day moving average price is $93.88 and its 200-day moving average price is $81.80. Republic Bancorp has a 52-week low of $63.97 and a 52-week high of $102.22.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its quarterly earnings data on Friday, July 24th. The bank reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.13. The company had revenue of $101.27 million for the quarter, compared to the consensus estimate of $97.60 million. Republic Bancorp had a return on equity of 11.20% and a net margin of 25.38%. As a group, sell-side analysts forecast that Republic Bancorp will post 6.65 earnings per share for the current year.

Insider Activity

In related news, 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 transaction, the executive vice president directly owned 24,691 shares of the company's stock, valued at approximately $2,062,686.14. The trade was a 10.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christy Ames sold 340 shares of the company's stock in a transaction that occurred on 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 approximately $540,145.50. This represents a 5.24% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 55.90% of the company's stock.

Institutional Investors Weigh In On Republic Bancorp

A number of large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in Republic Bancorp by 9,986.2% in the 2nd quarter. California State Teachers Retirement System now owns 796,507 shares of the bank's stock worth $72,028,000 after buying an additional 788,610 shares in the last quarter. Vestor Capital LLC grew its stake in shares of Republic Bancorp by 164.4% during the first quarter. Vestor Capital LLC now owns 5,594 shares of the bank's stock valued at $395,000 after acquiring an additional 3,478 shares in the last quarter. Bank of America Corp DE increased its position in shares of Republic Bancorp by 29.9% during the first quarter. Bank of America Corp DE now owns 16,035 shares of the bank's stock worth $1,131,000 after acquiring an additional 3,687 shares during the last quarter. Royal Bank of Canada increased its position in shares of Republic Bancorp by 46.2% during the first quarter. Royal Bank of Canada now owns 3,401 shares of the bank's stock worth $239,000 after acquiring an additional 1,074 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Republic Bancorp by 6.1% in the first quarter. Empowered Funds LLC now owns 78,246 shares of the bank's stock worth $5,520,000 after acquiring an additional 4,511 shares in the last quarter. 24.37% of the stock is 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.

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