Republic Bancorp (NASDAQ:RBCAA) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Republic Bancorp from “hold” to “strong buy.” Across analysts, the stock has a “Moderate Buy” consensus rating and a $98 target price.
• In its latest quarter, Republic Bancorp reported EPS of $1.59, below the $1.65 consensus estimate, while revenue of $103.93 million exceeded forecasts of $100.35 million.
• Shares opened at $91.18; the company reported a 25.33% net margin and 11.20% return on equity.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Monday, Zacks reports.

RBCAA has been the topic of a number of other research reports. Raymond James Financial started coverage on Republic Bancorp in a research report on Wednesday, September 2nd. They issued a "hold" rating on the stock. 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. Finally, Hovde Group lifted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $98.00.

Republic Bancorp Stock Performance

Shares of RBCAA opened at $91.18 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a 50-day moving average of $93.36 and a two-hundred day moving average of $83.50. The stock has a market cap of $1.79 billion, a P/E ratio of 14.27 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 - Get Free Report) last announced its quarterly earnings data on Friday, October 23rd. The bank reported $1.59 earnings per share 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 firm had revenue of $103.93 million during the quarter, compared to analyst estimates of $100.35 million. As a group, research analysts predict that Republic Bancorp will post 6.98 EPS for the current year.

Insider Buying and Selling at Republic Bancorp

In other news, EVP Jeff Starke sold 820 shares of the business's stock in a transaction dated 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. The trade was a 9.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 55.90% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its position in Republic Bancorp by 40.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 626 shares of the bank's stock worth $58,000 after purchasing an additional 180 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Republic Bancorp by 167.0% in the 3rd quarter. GAMMA Investing LLC now owns 721 shares of the bank's stock valued at $66,000 after purchasing an additional 451 shares during the period. Apollon Wealth Management LLC purchased a new stake in Republic Bancorp during the first quarter worth $213,000. Arizona State Retirement System purchased a new stake in Republic Bancorp during the second quarter worth $218,000. Finally, Royal Bank of Canada boosted its holdings in 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 buying an additional 1,074 shares in the last quarter. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

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.

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