Republic Bancorp (NASDAQ:RBCAA) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Republic Bancorp shares rose 1.0% to $91.49, despite trading volume declining 41% from the prior session. The stock’s average analyst rating is “Hold,” with a consensus price target of $98.00.
• The bank exceeded quarterly expectations, reporting $1.68 in EPS versus the $1.55 estimate and revenue of $101.27 million compared with the $97.60 million consensus.
• Republic Bancorp declared a quarterly dividend of $0.495 per share, or $1.98 annualized, representing a 2.2% yield and a 30.23% payout ratio; institutional investors own 24.37% of the stock.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw strong trading volume on Monday. 50,487 shares were traded during mid-day trading, a decline of 41% from the previous session's volume of 85,266 shares. The stock last traded at $91.4850 and had previously closed at $90.93.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Republic Bancorp in a research note on Friday, September 4th. Raymond James Financial assumed coverage on Republic Bancorp in a report on Wednesday, September 2nd. They set a "hold" rating on the stock. Zacks Research raised shares of Republic Bancorp to a "hold" rating in a research report on Monday, July 13th. Finally, Hovde Group boosted their price target on shares of Republic Bancorp from $80.00 to $98.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $98.00.

Republic Bancorp Stock Up 1.0%

The firm has a 50-day moving average of $95.32 and a two-hundred day moving average of $86.63. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $1.80 billion, a PE ratio of 14.02 and a beta of 0.55.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its earnings results on Friday, July 24th. The bank reported $1.68 EPS for the quarter, beating analysts' consensus estimates of $1.55 by $0.13. Republic Bancorp had a return on equity of 11.20% and a net margin of 25.38%. The company had revenue of $101.27 million for the quarter, compared to the consensus estimate of $97.60 million. Equities research analysts predict that Republic Bancorp, Inc. will post 6.65 earnings per share for the current fiscal year.

Republic Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.4950 per share. The ex-dividend date is Friday, September 18th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.2%. Republic Bancorp's dividend payout ratio is currently 30.23%.

Institutional Trading of Republic Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of RBCAA. GAMMA Investing LLC raised its holdings in 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 during the period. Engineers Gate Manager LP acquired a new position in Republic Bancorp in the second quarter valued at about $479,000. Arizona State Retirement System purchased a new position in Republic Bancorp during the second quarter worth about $218,000. Vestor Capital LLC boosted its stake in Republic Bancorp by 164.4% during the first quarter. Vestor Capital LLC now owns 5,594 shares of the bank's stock worth $395,000 after buying an additional 3,478 shares during the period. Finally, Bank of America Corp DE boosted its stake in Republic Bancorp by 29.9% during the first quarter. Bank of America Corp DE now owns 16,035 shares of the bank's stock worth $1,131,000 after buying an additional 3,687 shares during the period. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

About Republic Bancorp

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky. Its principal subsidiary, Republic Bank & Trust Company, provides banking and financial services to individuals, businesses, and institutions through banking centers and digital channels.

The company offers personal and commercial deposit accounts, consumer and business loans, mortgage lending, cash-management services, online and mobile banking, and wealth-management and trust services. Its banking operations serve customers in Kentucky, Florida, Indiana, Ohio, and Tennessee.

Republic Bancorp also operates Republic Processing Group, which provides tax-related financial services and payment-processing solutions, including tax refund processing and prepaid products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.