Vanguard Group Inc. Acquires 60,300 Shares of Republic Bancorp, Inc. $RBCAA

Key Points

• Vanguard Group Inc. increased its stake in Republic Bancorp by 11.7%, owning a total of 575,166 shares valued at approximately $36.7 million.
• In the most recent quarter, Republic Bancorp reported an EPS of $1.61, exceeding analysts’ estimates, with revenues reaching $93 million for the period.
• The company announced a quarterly dividend of $0.451, resulting in an annualized yield of 2.3%, with the ex-dividend date set for September 19th.

Vanguard Group Inc. lifted its stake in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 575,166 shares of the bank's stock after buying an additional 60,300 shares during the period. Vanguard Group Inc. owned approximately 2.95% of Republic Bancorp worth $36,707,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. US Bancorp DE increased its holdings in shares of Republic Bancorp by 294.7% in the first quarter. US Bancorp DE now owns 750 shares of the bank's stock worth $48,000 after buying an additional 560 shares during the period. Inspire Advisors LLC increased its holdings in Republic Bancorp by 33.0% during the 1st quarter. Inspire Advisors LLC now owns 39,278 shares of the bank's stock valued at $2,507,000 after purchasing an additional 9,741 shares during the period. MCF Advisors LLC purchased a new position in Republic Bancorp during the 1st quarter valued at about $257,000. Wealth Dimensions Group Ltd. purchased a new position in Republic Bancorp during the 1st quarter valued at about $757,000. Finally, Denali Advisors LLC increased its holdings in Republic Bancorp by 1.5% during 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. 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 Christy Ames sold 700 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $70.50, for a total transaction of $49,350.00. Following the completion of the transaction, the executive vice president owned 5,044 shares of the company's stock, valued at $355,602. This represents a 12.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 56.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial began coverage on Republic Bancorp in a 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 price target of $69.00.

Republic Bancorp Stock Down 0.3%

Shares of RBCAA traded down $0.24 during mid-day trading on Friday, reaching $76.74. The company had a trading volume of 18,363 shares, compared to its average volume of 24,910. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.08. The firm has a 50-day moving average price of $73.10 and a 200 day moving average price of $69.12. Republic Bancorp, Inc. has a 52 week low of $56.79 and a 52 week high of $80.68. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 12.03 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $93.00 million for the quarter, compared to analysts' expectations of $93.50 million. Republic Bancorp had a return on equity of 12.23% and a net margin of 23.98%.

Republic Bancorp Announces Dividend

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

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.