Strs Ohio Takes Position in Republic Bancorp, Inc. $RBCAA

Key Points

• Strs Ohio has acquired a stake in Republic Bancorp, Inc., purchasing 3,800 shares valued at approximately $243,000 in the first quarter.
• Insider sales included a transaction by EVP Christy Ames, who sold 400 shares for a total of $30,316, representing a 7.79% decrease in ownership.
• Republic Bancorp announced a quarterly dividend of $0.451 per share, with an ex-dividend date of September 19th, leading to a yield of 2.5%.

Strs Ohio acquired a new stake in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 3,800 shares of the bank's stock, valued at approximately $243,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Republic Bancorp by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the bank's stock worth $329,000 after buying an additional 164 shares during the period. Formidable Asset Management LLC boosted its holdings in Republic Bancorp by 0.6% in the 1st quarter. Formidable Asset Management LLC now owns 30,382 shares of the bank's stock valued at $1,939,000 after purchasing an additional 183 shares during the period. Hohimer Wealth Management LLC boosted its holdings in Republic Bancorp by 5.1% in the 1st quarter. Hohimer Wealth Management LLC now owns 3,879 shares of the bank's stock valued at $248,000 after purchasing an additional 187 shares during the period. State of Wyoming boosted its holdings in Republic Bancorp by 34.1% in 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. Finally, Denali Advisors LLC boosted its holdings in Republic Bancorp by 1.5% in the 1st quarter. Denali Advisors LLC now owns 19,984 shares of the bank's stock valued at $1,275,000 after purchasing an additional 305 shares during the period. Institutional investors own 24.37% of the company's stock.

Insider Buying and Selling at Republic Bancorp

In other Republic Bancorp news, EVP Christy Ames sold 400 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $75.79, for a total value of $30,316.00. Following the transaction, the executive vice president directly owned 4,738 shares of the company's stock, valued at approximately $359,093.02. This trade represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $92,373.19. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 56.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Republic Bancorp Trading Down 0.9%

Shares of NASDAQ RBCAA opened at $73.63 on Thursday. 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. The firm has a 50 day moving average price of $73.66 and a two-hundred day moving average price of $70.27. The stock has a market cap of $1.44 billion, a P/E ratio of 11.54 and a beta of 0.58.

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

Republic Bancorp Dividend Announcement

The business 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 dividend of $0.451 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.80 annualized dividend and a yield of 2.5%. Republic Bancorp's dividend payout ratio is currently 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.

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