Inspire Advisors LLC Buys 9,741 Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA)

Key Points

• Inspire Advisors LLC increased its stake in Republic Bancorp by 33.0% during the first quarter, now holding a total of 39,278 shares valued at approximately $2.5 million.
• Republic Bancorp recently announced a quarterly dividend of $0.451 per share, with an annualized dividend yield of 2.50%, payable on October 17th.
• Despite reporting $93 million in revenue for the last quarter, Republic Bancorp's results fell slightly short of the consensus estimate, though its EPS of $1.61 exceeded expectations by $0.19.

Inspire Advisors LLC increased its position in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) by 33.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,278 shares of the bank's stock after buying an additional 9,741 shares during the quarter. Inspire Advisors LLC owned 0.20% of Republic Bancorp worth $2,507,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RBCAA. Public Employees Retirement System of Ohio bought a new position in Republic Bancorp in the fourth quarter valued at approximately $70,000. Tower Research Capital LLC TRC grew its stake in Republic Bancorp by 206.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank's stock valued at $77,000 after purchasing an additional 742 shares in the last quarter. Bessemer Group Inc. bought a new position in Republic Bancorp in the first quarter valued at approximately $128,000. Sei Investments Co. bought a new position in Republic Bancorp in the fourth quarter valued at approximately $208,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Republic Bancorp by 41.7% during the 4th quarter. Lazard Asset Management LLC now owns 3,271 shares of the bank's stock worth $228,000 after acquiring an additional 962 shares during the period. 24.37% of the stock is currently owned by institutional investors.

Republic Bancorp Stock Performance

Shares of RBCAA traded up $1.01 on Wednesday, reaching $71.75. 5,015 shares of the company's stock traded hands, compared to its average volume of 38,874. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.36. The stock's 50 day simple moving average is $71.92 and its two-hundred day simple moving average is $68.35. Republic Bancorp, Inc. has a 52-week low of $54.88 and a 52-week high of $80.68. The stock has a market cap of $1.40 billion, a PE ratio of 11.20 and a beta of 0.52.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its earnings results on Friday, July 18th. The bank reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.19. Republic Bancorp had a return on equity of 12.41% and a net margin of 23.98%. The business had revenue of $93.00 million during the quarter, compared to the consensus estimate of $93.50 million.

Republic Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 19th will be issued a $0.451 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, September 19th. Republic Bancorp's payout ratio is currently 28.21%.

Insider Activity at Republic Bancorp

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

Analyst Ratings Changes

A number of research firms have recently commented on RBCAA. Raymond James Financial began coverage on Republic Bancorp in a report on Friday, June 27th. They set a "market perform" rating for the company. Hovde Group boosted their price target on Republic Bancorp from $64.00 to $69.00 and gave the stock a "market perform" rating in a report on Friday, April 25th.

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.