Voleon Capital Management LP Purchases Shares of 3,867 Republic Bancorp, Inc. $RBCAA

Key Points

• Voleon Capital Management LP acquired a new position in Republic Bancorp, investing approximately $247,000 to purchase 3,867 shares during Q1.
• Republic Bancorp recently announced a $0.451 quarterly dividend, with an upcoming payment date of October 17th and a dividend yield of 2.4%.
• The bank reported an EPS of $1.61 for its latest quarter, surpassing analyst expectations, though revenue slightly missed the consensus estimate at $93 million.

Voleon Capital Management LP bought a new position in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,867 shares of the bank's stock, valued at approximately $247,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Republic Bancorp by 11.7% in the 1st quarter. Vanguard Group Inc. now owns 575,166 shares of the bank's stock worth $36,707,000 after buying an additional 60,300 shares during the period. American Century Companies Inc. increased its position in Republic Bancorp by 12.8% during the 1st quarter. American Century Companies Inc. now owns 210,003 shares of the bank's stock valued at $13,402,000 after buying an additional 23,886 shares in the last quarter. Northern Trust Corp increased its position in Republic Bancorp by 4.3% during the 4th quarter. Northern Trust Corp now owns 85,367 shares of the bank's stock valued at $5,965,000 after buying an additional 3,512 shares in the last quarter. Inspire Advisors LLC increased its position 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 buying an additional 9,741 shares in the last quarter. Finally, Formidable Asset Management LLC increased its position in Republic Bancorp by 0.6% during the 1st quarter. Formidable Asset Management LLC now owns 30,382 shares of the bank's stock valued at $1,939,000 after buying an additional 183 shares in 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 $0.31 during trading on Monday, reaching $76.16. 3,085 shares of the company traded hands, compared to its average volume of 35,952. The stock has a market capitalization of $1.49 billion, a PE ratio of 11.94 and a beta of 0.58. Republic Bancorp, Inc. has a 52-week low of $56.79 and a 52-week high of $80.68. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The firm has a 50 day simple moving average of $73.64 and a 200-day simple moving average of $69.85.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The bank reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.19. The firm had revenue of $93.00 million for the quarter, compared to the consensus estimate 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 disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 19th will be issued a $0.451 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. Republic Bancorp's dividend payout ratio (DPR) is presently 28.21%.

Insider Activity

In related news, EVP Juan Montano sold 1,223 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $92,373.19. Following the transaction, the executive vice president owned 4,434 shares of the company's stock, valued at approximately $334,900.02. This trade represents a 21.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 56.40% of the company's stock.

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 for the company. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Republic Bancorp currently has an average rating of "Hold" and an average target price of $69.00.

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.