Wealth Dimensions Group Ltd. acquired a new stake in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,865 shares of the bank's stock, valued at approximately $757,000. Wealth Dimensions Group Ltd. owned about 0.06% of Republic Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in the business. Denali Advisors LLC boosted its stake in shares of Republic Bancorp by 1.5% in the first 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. Formidable Asset Management LLC boosted its position 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 buying an additional 183 shares during the period. Hohimer Wealth Management LLC grew its stake in shares of Republic Bancorp by 5.1% in the first quarter. Hohimer Wealth Management LLC now owns 3,879 shares of the bank's stock worth $248,000 after acquiring an additional 187 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of Republic Bancorp during the first quarter worth $128,000. Finally, GAMMA Investing LLC increased its position in shares of Republic Bancorp by 15,400.0% during the first quarter. GAMMA Investing LLC now owns 5,425 shares of the bank's stock worth $346,000 after acquiring an additional 5,390 shares during the period. 24.37% of the stock is currently owned by hedge funds and other institutional investors.
Republic Bancorp Stock Performance
NASDAQ RBCAA traded down $0.65 during trading hours on Thursday, hitting $73.76. The company had a trading volume of 7,052 shares, compared to its average volume of 39,215. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $72.06 and a 200-day simple moving average of $68.19. The firm has a market cap of $1.44 billion, a P/E ratio of 11.56 and a beta of 0.52. Republic Bancorp, Inc. has a fifty-two week low of $54.88 and a fifty-two week high of $80.68.
Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The bank reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.19. The company had revenue of $93.00 million during the quarter, compared to the consensus estimate of $93.50 million. Republic Bancorp had a net margin of 23.98% and a return on equity of 12.41%.
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 2.45%. Republic Bancorp's payout ratio is presently 28.21%.
Wall Street Analyst Weigh In
RBCAA has been the subject of a number of research reports. Hovde Group upped their target price on shares of Republic Bancorp from $64.00 to $69.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Raymond James Financial started coverage on Republic Bancorp in a research report on Friday, June 27th. They set a "market perform" rating for the company.
View Our Latest Analysis on Republic Bancorp
Insiders Place Their Bets
In other news, EVP Christy Ames sold 700 shares of Republic Bancorp 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 sale, the executive vice president directly owned 5,044 shares in the company, valued at approximately $355,602. The trade was a 12.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 56.40% of the stock is currently owned by insiders.
Republic Bancorp Company Profile
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Free Report)
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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