Republic Bancorp (NASDAQ:RBCAA) Shares Up 2.9%

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report)'s share price traded up 2.9% during trading on Wednesday . The stock traded as high as $48.36 and last traded at $48.36. 1,084 shares were traded during mid-day trading, a decline of 93% from the average session volume of 16,528 shares. The stock had previously closed at $47.01.

Analyst Ratings Changes

Separately, Hovde Group assumed coverage on shares of Republic Bancorp in a research note on Monday, March 4th. They issued an "outperform" rating on the stock.

Republic Bancorp Price Performance

The company has a market capitalization of $917.96 million, a PE ratio of 10.28 and a beta of 0.57. The company's 50 day simple moving average is $49.34 and its 200 day simple moving average is $49.07. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.07 and a quick ratio of 1.06.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last announced its earnings results on Friday, January 26th. The bank reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.28. The business had revenue of $105.57 million for the quarter. Republic Bancorp had a net margin of 21.16% and a return on equity of 10.39%.

Republic Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, March 15th will be given a dividend of $0.407 per share. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Republic Bancorp's previous quarterly dividend of $0.37. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.44%. Republic Bancorp's dividend payout ratio (DPR) is 35.22%.

Insider Transactions at Republic Bancorp

In related news, Director Michael T. Rust sold 1,400 shares of Republic Bancorp stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $47.43, for a total value of $66,402.00. Following the transaction, the director now directly owns 20,772 shares in the company, valued at approximately $985,215.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 56.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Republic Bancorp in the 4th quarter valued at about $3,081,000. Bank of America Corp DE grew its holdings in Republic Bancorp by 311.4% in the 1st quarter. Bank of America Corp DE now owns 35,122 shares of the bank's stock valued at $1,490,000 after buying an additional 26,584 shares during the period. State Street Corp grew its holdings in Republic Bancorp by 8.8% in the 2nd quarter. State Street Corp now owns 197,319 shares of the bank's stock valued at $9,586,000 after buying an additional 15,884 shares during the period. BlackRock Inc. grew its holdings in Republic Bancorp by 1.9% in the 2nd quarter. BlackRock Inc. now owns 812,901 shares of the bank's stock valued at $34,548,000 after buying an additional 15,221 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Republic Bancorp by 1.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 927,375 shares of the bank's stock valued at $51,155,000 after buying an additional 15,040 shares during the period. Institutional investors and hedge funds own 24.37% of the company's stock.

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.