JPMorgan Chase & Co. Raises Stock Position in Republic Bancorp, Inc. (NASDAQ:RBCAA)

JPMorgan Chase & Co. lifted its holdings in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) by 119.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,567 shares of the bank's stock after purchasing an additional 19,932 shares during the quarter. JPMorgan Chase & Co. owned about 0.19% of Republic Bancorp worth $2,555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of RBCAA. New York State Teachers Retirement System increased its position in shares of Republic Bancorp by 659.0% during the fourth quarter. New York State Teachers Retirement System now owns 759 shares of the bank's stock valued at $53,000 after acquiring an additional 659 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Republic Bancorp during the fourth quarter valued at about $208,000. SG Americas Securities LLC increased its position in shares of Republic Bancorp by 22.8% during the fourth quarter. SG Americas Securities LLC now owns 3,851 shares of the bank's stock valued at $269,000 after acquiring an additional 714 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC acquired a new position in shares of Republic Bancorp in the fourth quarter valued at approximately $280,000. Finally, Pillar Financial Advisors LLC acquired a new position in shares of Republic Bancorp in the fourth quarter valued at approximately $286,000. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Hovde Group lifted their price objective on shares of Republic Bancorp from $64.00 to $69.00 and gave the company a "market perform" rating in a report on Friday.

Republic Bancorp Stock Up 1.5 %

Shares of RBCAA stock traded up $1.01 during trading on Monday, reaching $68.02. The company's stock had a trading volume of 28,935 shares, compared to its average volume of 20,981. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 13.01 and a beta of 0.46. The stock's 50-day moving average price is $64.50 and its 200 day moving average price is $68.48. Republic Bancorp, Inc. has a 1-year low of $48.67 and a 1-year high of $80.68.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $2.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.86 by $0.56. Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%. The firm had revenue of $135.84 million during the quarter, compared to analysts' expectations of $126.90 million.

Insider Buying and Selling

In related news, Director David P. Feaster sold 1,406 shares of Republic Bancorp stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total value of $93,386.52. Following the completion of the transaction, the director now owns 4,303 shares in the company, valued at $285,805.26. The trade was a 24.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John T. Rippy sold 3,082 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total transaction of $203,381.18. Following the sale, the executive vice president now owns 23,105 shares of the company's stock, valued at $1,524,698.95. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. 56.40% of the stock is owned by insiders.

Republic Bancorp 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.