Republic Bancorp (NASDAQ:RBCAA) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Republic Bancorp shares rose above their 200-day moving average, reaching $92.74 before last trading at $90.764, up from the $87.56 long-term average.
• Analysts maintain a broadly neutral outlook: the stock has a consensus “Hold” rating from four analysts, with an average 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 versus the $97.60 million consensus.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $87.56 and traded as high as $92.74. Republic Bancorp shares last traded at $90.7640, with a volume of 63,128 shares trading hands.

Analyst Ratings Changes

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

Republic Bancorp Trading Down 1.8%

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 firm has a 50 day moving average of $94.37 and a 200 day moving average of $87.56. The firm has a market cap of $1.78 billion, a PE ratio of 13.86 and a beta of 0.55.

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

Institutional Investors Weigh In On Republic Bancorp

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of Republic Bancorp by 167.0% in the third quarter. GAMMA Investing LLC now owns 721 shares of the bank's stock worth $66,000 after purchasing an additional 451 shares during the last quarter. Apollon Wealth Management LLC bought a new position in Republic Bancorp during the 1st quarter valued at approximately $213,000. Arizona State Retirement System bought a new position in Republic Bancorp during the 2nd quarter valued at approximately $218,000. Royal Bank of Canada raised its position in Republic Bancorp by 46.2% during the 1st quarter. Royal Bank of Canada now owns 3,401 shares of the bank's stock valued at $239,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Silver Oak Securities Incorporated lifted its holdings in Republic Bancorp by 9.4% in the 1st quarter. Silver Oak Securities Incorporated now owns 3,486 shares of the bank's stock worth $246,000 after buying an additional 300 shares during the period. 24.37% of the stock is currently owned by institutional investors.

Republic Bancorp Company Profile

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.

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