Jacobs Levy Equity Management Inc. Purchases 6,799 Shares of Republic Bancorp, Inc. $RBCAA

Key Points

• Jacobs Levy Equity Management Inc. has increased its stake in Republic Bancorp by 132.4%, owning approximately $762,000 worth of shares after purchasing an additional 6,799 shares in the first quarter.
• Republic Bancorp announced a quarterly dividend of $0.451, representing a 2.4% yield, with the dividend being paid on October 17th to investors of record as of September 19th.
• Analysts currently maintain a "Hold" rating on Republic Bancorp with an average price target of $69.00, following recent coverage initiated by Raymond James Financial.

Jacobs Levy Equity Management Inc. boosted its holdings in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) by 132.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,935 shares of the bank's stock after purchasing an additional 6,799 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.06% of Republic Bancorp worth $762,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. US Bancorp DE raised its stake in Republic Bancorp by 294.7% during the 1st quarter. US Bancorp DE now owns 750 shares of the bank's stock valued at $48,000 after purchasing an additional 560 shares during the period. State of Wyoming raised its stake in Republic Bancorp by 34.1% during the 1st quarter. State of Wyoming now owns 967 shares of the bank's stock valued at $62,000 after purchasing an additional 246 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Republic Bancorp during the 4th quarter valued at $70,000. Bessemer Group Inc. acquired a new stake in Republic Bancorp during the 1st quarter valued at $128,000. Finally, Lazard Asset Management LLC raised its stake in Republic Bancorp by 41.7% during the 4th quarter. Lazard Asset Management LLC now owns 3,271 shares of the bank's stock valued at $228,000 after purchasing an additional 962 shares during the period. Hedge funds and other institutional investors own 24.37% of the company's stock.

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, EVP Juan Montano sold 1,223 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $92,373.19. Following the sale, the executive vice president directly owned 4,434 shares in the company, valued at $334,900.02. This trade represents a 21.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 56.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial assumed coverage on shares of Republic Bancorp in a research note on Friday, June 27th. They set a "market perform" rating on the stock. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $69.00.

Republic Bancorp Stock Down 0.5%

Shares of Republic Bancorp stock traded down $0.35 during midday trading on Monday, reaching $75.50. 20,198 shares of the company's stock traded hands, compared to its average volume of 19,060. The company has a market cap of $1.47 billion, a price-to-earnings ratio of 11.83 and a beta of 0.58. The company's 50 day simple moving average is $73.64 and its 200 day simple moving average is $69.91. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.08. Republic Bancorp, Inc. has a 52 week low of $56.79 and a 52 week high of $80.68.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The bank reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.19. The business had revenue of $93.00 million for the quarter, compared to the consensus estimate of $93.50 million. Republic Bancorp had a net margin of 23.98% and a return on equity of 12.23%.

Republic Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 19th will be paid a $0.451 dividend. The ex-dividend date is Friday, September 19th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. Republic Bancorp's dividend payout ratio (DPR) is presently 28.21%.

About Republic Bancorp

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.