Voleon Capital Management LP Invests $247,000 in 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 stake in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 added to or reduced their stakes in RBCAA. Price T Rowe Associates Inc. MD bought a new stake in Republic Bancorp in the 4th quarter valued at about $232,000. Northern Trust Corp increased its position in Republic Bancorp by 4.3% in 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. Bank of America Corp DE increased its position in Republic Bancorp by 35.1% in the 4th quarter. Bank of America Corp DE now owns 10,146 shares of the bank's stock valued at $709,000 after buying an additional 2,634 shares in the last quarter. Deutsche Bank AG increased its position in Republic Bancorp by 14.4% in the 4th quarter. Deutsche Bank AG now owns 4,676 shares of the bank's stock valued at $327,000 after buying an additional 588 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Republic Bancorp in the 4th quarter valued at about $359,000. 24.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Republic Bancorp Stock Down 1.6%

RBCAA stock traded down $1.22 during mid-day trading on Friday, reaching $75.85. 17,597 shares of the company traded hands, compared to its average volume of 19,824. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 11.89 and a beta of 0.58. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. Republic Bancorp, Inc. has a fifty-two week low of $56.79 and a fifty-two week high of $80.68. The firm's 50 day moving average price is $73.64 and its 200 day moving average price is $69.82.

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, beating analysts' consensus estimates of $1.42 by $0.19. Republic Bancorp had a return on equity of 12.23% and a net margin of 23.98%.The business had revenue of $93.00 million during the quarter, compared to the consensus estimate of $93.50 million.

Republic Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders 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 dividend yield of 2.4%. The ex-dividend date is Friday, September 19th. Republic Bancorp's 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.