Republic Bancorp, Inc. (NASDAQ:RBCAA) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) by 15,400.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,425 shares of the bank's stock after acquiring an additional 5,390 shares during the period. GAMMA Investing LLC's holdings in Republic Bancorp were worth $346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of RBCAA. Cary Street Partners Financial LLC purchased a new position in Republic Bancorp in the fourth quarter valued at $2,931,000. Norges Bank purchased a new stake in Republic Bancorp during the fourth quarter worth approximately $1,803,000. American Century Companies Inc. boosted its holdings in Republic Bancorp by 14.0% in the fourth quarter. American Century Companies Inc. now owns 186,117 shares of the bank's stock valued at $13,004,000 after purchasing an additional 22,818 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Republic Bancorp by 119.8% in the fourth quarter. JPMorgan Chase & Co. now owns 36,567 shares of the bank's stock valued at $2,555,000 after purchasing an additional 19,932 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Republic Bancorp by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 514,866 shares of the bank's stock valued at $35,974,000 after purchasing an additional 19,756 shares during the last quarter. Hedge funds and other institutional investors own 24.37% of the company's stock.

Republic Bancorp Price Performance

Shares of NASDAQ:RBCAA traded up $0.70 on Tuesday, reaching $71.51. 152,572 shares of the company were exchanged, compared to its average volume of 25,066. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.36. Republic Bancorp, Inc. has a 1-year low of $48.85 and a 1-year high of $80.68. The company has a 50-day moving average of $69.30 and a 200-day moving average of $67.80. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 11.78 and a beta of 0.51.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.56. The business had revenue of $135.84 million during the quarter, compared to analysts' expectations of $126.90 million. Republic Bancorp had a return on equity of 11.92% and a net margin of 22.94%.

Republic Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 20th will be paid a $0.451 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, June 20th. Republic Bancorp's payout ratio is 29.65%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group raised their price target on Republic Bancorp from $64.00 to $69.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th.

Insider Buying and Selling at Republic Bancorp

In related news, EVP Christy Ames sold 700 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $70.50, for a total value of $49,350.00. Following the completion of the sale, the executive vice president now directly owns 5,044 shares in the company, valued at approximately $355,602. This represents a 12.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 56.40% of the stock is owned by company insiders.

Republic Bancorp Company Profile

Republic Bancorp, Inc operates as a bank holding company for Republic Bank & Trust Company that provides various banking products and services in the United States. It operates in six segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions.