Charles Schwab Investment Management Inc. Sells 20,176 Shares of Republic Bancorp, Inc. $RBCAA

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Republic Bancorp by 21.5%, now holding approximately 73,817 shares valued at about $4.71 million.
• Republic Bancorp has announced a quarterly dividend of $0.451 per share, which will be paid on October 17th, with an annualized dividend yield of 2.3%.
• Raymond James Financial has initiated coverage on Republic Bancorp, assigning a "market perform" rating with an average price target of $69.00.

Charles Schwab Investment Management Inc. lessened its stake in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,817 shares of the bank's stock after selling 20,176 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.38% of Republic Bancorp worth $4,711,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Republic Bancorp by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 575,166 shares of the bank's stock valued at $36,707,000 after buying an additional 60,300 shares during the period. US Bancorp DE increased its stake in shares of Republic Bancorp by 294.7% during the 1st quarter. US Bancorp DE now owns 750 shares of the bank's stock worth $48,000 after purchasing an additional 560 shares during the last quarter. Inspire Advisors LLC increased its stake in shares of Republic Bancorp by 33.0% during the 1st quarter. Inspire Advisors LLC now owns 39,278 shares of the bank's stock worth $2,507,000 after purchasing an additional 9,741 shares during the last quarter. MCF Advisors LLC acquired a new position in shares of Republic Bancorp during the 1st quarter worth $257,000. Finally, Wealth Dimensions Group Ltd. acquired a new position in shares of Republic Bancorp during the 1st quarter worth $757,000. Institutional investors and hedge funds own 24.37% of the company's stock.

Insider Transactions at Republic Bancorp

In related news, EVP Christy Ames sold 700 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $70.50, for a total value of $49,350.00. Following the transaction, the executive vice president directly owned 5,044 shares in the company, valued at approximately $355,602. This trade represents a 12.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 56.40% of the company's stock.

Republic Bancorp Stock Performance

NASDAQ:RBCAA traded down $0.49 during midday trading on Wednesday, reaching $75.99. The stock had a trading volume of 20,344 shares, compared to its average volume of 22,525. Republic Bancorp, Inc. has a 1-year low of $56.79 and a 1-year high of $80.68. The firm's fifty day simple moving average is $73.41 and its 200-day simple moving average is $69.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 1.07. The stock has a market capitalization of $1.48 billion, a P/E ratio of 11.91 and a beta of 0.58.

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

Republic Bancorp Announces Dividend

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%.

Analyst Upgrades and Downgrades

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

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.