Republic Bancorp (NASDAQ:RBCAA) Stock: Insider Jeff Starke Sells 820 Shares

Key Points

• Insider sale: EVP Jeff Starke sold 820 Republic Bancorp shares for approximately $75,768 at an average price of $92.40, reducing his holdings by 9.47% to 7,837 shares.
• Quarterly results: Republic Bancorp reported quarterly earnings of $1.59 per share, below the $1.65 consensus estimate, while revenue of $103.93 million exceeded expectations.
• Market view: Shares rose 0.4% to $91.84, and analysts maintain a consensus “Hold” rating with a $98 price target. Institutional investors own 24.37% of the company.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) EVP Jeff Starke sold 820 shares of the firm's stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $92.40, for a total transaction of $75,768.00. Following the completion of the sale, the executive vice president owned 7,837 shares of the company's stock, valued at $724,138.80. This trade represents a 9.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Republic Bancorp Trading Up 0.4%

Republic Bancorp stock traded up $0.41 during midday trading on Thursday, reaching $91.84. The stock had a trading volume of 54,894 shares, compared to its average volume of 86,708. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.14. Republic Bancorp, Inc. has a 52-week low of $63.97 and a 52-week high of $102.22. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 13.87 and a beta of 0.55. The company has a fifty day moving average of $93.59 and a 200 day moving average of $83.07.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last issued its quarterly earnings results on Friday, October 23rd. The bank reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.06). Republic Bancorp had a return on equity of 11.20% and a net margin of 25.33%. The business had revenue of $103.93 million during the quarter, compared to analysts' expectations of $100.35 million. On average, analysts anticipate that Republic Bancorp, Inc. will post 6.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Republic Bancorp

A number of large investors have recently bought and sold shares of RBCAA. Nisa Investment Advisors LLC raised its holdings in Republic Bancorp by 40.4% in the third quarter. Nisa Investment Advisors LLC now owns 626 shares of the bank's stock worth $58,000 after purchasing an additional 180 shares in the last quarter. Swiss National Bank lifted its position in shares of Republic Bancorp by 2.4% during the first quarter. Swiss National Bank now owns 17,200 shares of the bank's stock valued at $1,213,000 after buying an additional 400 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Republic Bancorp by 6.3% in the 1st quarter. Inspire Investing LLC now owns 7,391 shares of the bank's stock valued at $521,000 after buying an additional 439 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Republic Bancorp by 167.0% in the 3rd quarter. GAMMA Investing LLC now owns 721 shares of the bank's stock valued at $66,000 after buying an additional 451 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Republic Bancorp by 22.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,444 shares of the bank's stock worth $314,000 after buying an additional 820 shares during the last quarter. Institutional investors own 24.37% of the company's stock.

Analyst Ratings Changes

RBCAA has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Republic Bancorp to a "hold" rating in a report on Monday, July 13th. Hovde Group raised their target price on shares of Republic Bancorp from $80.00 to $98.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Weiss Ratings raised shares of Republic Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, October 16th. Finally, Raymond James Financial assumed coverage on Republic Bancorp in a report on Wednesday, September 2nd. They issued a "hold" rating for the company. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $98.00.

About Republic Bancorp

Republic Bancorp, Inc is a Louisville, Kentucky-based bank holding company whose principal subsidiary is Republic Bank & Trust Company. The company provides consumer and commercial banking services to individuals, businesses, professionals and institutions.

Republic Bank offers deposit accounts, checking and savings products, consumer and commercial loans, mortgages, treasury management, private banking, wealth management and investment services. Through its Republic Processing Group, the company also provides financial services and processing solutions for tax professionals, including tax refund-related products and services.

Founded in 1974, Republic Bancorp serves customers through banking operations primarily in Kentucky and selected markets in the surrounding region, including Indiana, Ohio, Tennessee and Florida.

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