Nuveen LLC Invests $1.38 Million in Republic Bancorp, Inc. $RBCAA

Key Points

• Nuveen LLC has acquired a new stake in Republic Bancorp, purchasing 21,629 shares valued at approximately $1.38 million, increasing their ownership to 0.11%.
• Republic Bancorp is set to pay a quarterly dividend of $0.451 per share on October 17th, reflecting an annualized yield of 2.4%.
• The company's recent earnings report revealed an EPS of $1.61, exceeding analysts' expectations by $0.19, despite revenue falling slightly short of forecasts.

Nuveen LLC bought a new position in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,629 shares of the bank's stock, valued at approximately $1,380,000. Nuveen LLC owned about 0.11% of Republic Bancorp at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE boosted its position in shares of Republic Bancorp by 294.7% during the first quarter. US Bancorp DE now owns 750 shares of the bank's stock valued at $48,000 after buying an additional 560 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Republic Bancorp during the fourth quarter valued at $70,000. Tower Research Capital LLC TRC boosted 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 buying an additional 742 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Republic Bancorp during the first quarter valued at $128,000. Finally, Lazard Asset Management LLC boosted its position in shares of Republic Bancorp by 41.7% during the fourth quarter. Lazard Asset Management LLC now owns 3,271 shares of the bank's stock valued at $228,000 after buying an additional 962 shares during the last quarter. 24.37% of the stock is owned by hedge funds and other institutional investors.

Republic Bancorp Stock Performance

Shares of NASDAQ RBCAA traded up $0.92 during trading on Thursday, hitting $76.91. The company had a trading volume of 5,534 shares, compared to its average volume of 36,718. The stock has a 50 day simple moving average of $73.41 and a 200 day simple moving average of $69.33. 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 12 month low of $56.79 and a 12 month high of $80.68. The firm has a market capitalization of $1.50 billion, a P/E ratio of 12.05 and a beta of 0.58.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The bank reported $1.61 EPS for the quarter, topping the consensus estimate of $1.42 by $0.19. Republic Bancorp had a return on equity of 12.23% and a net margin of 23.98%.The firm had revenue of $93.00 million for the quarter, compared to the consensus estimate of $93.50 million.

Republic Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 19th will be paid a dividend of $0.451 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, September 19th. Republic Bancorp's dividend payout ratio (DPR) is currently 28.21%.

Analysts Set New Price Targets

Separately, Raymond James Financial initiated coverage on Republic Bancorp in a research report on Friday, June 27th. They set a "market perform" rating on the stock. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $69.00.

Insiders Place Their Bets

In other news, EVP Christy Ames sold 700 shares of the business's 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 transaction, the executive vice president directly owned 5,044 shares of the company's stock, valued at approximately $355,602. The trade was a 12.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 56.40% of the stock is currently owned by company insiders.

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.