Mackenzie Financial Corp Makes New $322,000 Investment in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Mackenzie Financial Corp purchased a new position in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 4,607 shares of the bank's stock, valued at approximately $322,000.

Several other institutional investors also recently added to or reduced their stakes in the business. New York State Teachers Retirement System increased its stake in Republic Bancorp by 659.0% during the fourth quarter. New York State Teachers Retirement System now owns 759 shares of the bank's stock valued at $53,000 after acquiring an additional 659 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Republic Bancorp during the 4th quarter worth approximately $70,000. Tower Research Capital LLC TRC increased its position in shares of Republic Bancorp by 206.7% during 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 during the period. Sei Investments Co. acquired a new position in shares of Republic Bancorp in the fourth quarter valued at $208,000. Finally, Lazard Asset Management LLC raised its stake in shares of Republic Bancorp by 41.7% in the fourth 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 in the last quarter. 24.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Republic Bancorp Price Performance

Shares of NASDAQ RBCAA traded up $2.24 during mid-day trading on Friday, hitting $70.39. 36,499 shares of the stock were exchanged, compared to its average volume of 21,809. The company has a market cap of $1.37 billion, a P/E ratio of 13.46 and a beta of 0.51. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12. Republic Bancorp, Inc. has a twelve month low of $48.67 and a twelve month high of $80.68. The stock's fifty day simple moving average is $67.43 and its two-hundred day simple moving average is $68.51.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released 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 firm 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 10.60% and a net margin of 20.05%.

Republic Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Friday, June 20th will be issued a $0.451 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.56%. Republic Bancorp's dividend payout ratio is 29.65%.

Republic Bancorp 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.