Republic Bancorp (NASDAQ:RBCAA) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Republic Bancorp shares crossed above their 200-day moving average, trading near $92.21 versus the $85.61 average, signaling improved technical momentum.
• Analysts remain cautious: the stock has an overall “Hold” consensus from MarketBeat, with one Buy rating and three Holds, and a consensus price target of $98.
• The bank reported quarterly earnings of $1.68 per share, exceeding estimates by $0.13, and announced a quarterly dividend of $0.495 per share, representing a 2.1% annualized yield.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $85.61 and traded as high as $92.25. Republic Bancorp shares last traded at $92.21, with a volume of 103,601 shares trading hands.

Analyst Upgrades and Downgrades

RBCAA has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Republic Bancorp in a report on Friday, September 4th. Raymond James Financial began coverage on Republic Bancorp in a research note on Wednesday, September 2nd. They set a "hold" rating on the stock. Hovde Group boosted their price target on Republic Bancorp from $80.00 to $98.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Finally, Zacks Research upgraded Republic Bancorp to a "hold" rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Republic Bancorp currently has an average rating of "Hold" and a consensus price target of $98.00.

Republic Bancorp Stock Performance

The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 14.08 and a beta of 0.55. The company's 50 day simple moving average is $95.99 and its 200 day simple moving average is $85.61. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.02.

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

Republic Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 18th will be issued a dividend of $0.4950 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.98 annualized dividend and a yield of 2.1%. Republic Bancorp's payout ratio is presently 30.23%.

Hedge Funds Weigh In On Republic Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Formidable Asset Management LLC lifted its stake in Republic Bancorp by 0.6% during the first quarter. Formidable Asset Management LLC now owns 30,972 shares of the bank's stock valued at $2,137,000 after buying an additional 196 shares in the last quarter. Silver Oak Securities Incorporated increased its position in shares of Republic Bancorp by 9.4% in the first quarter. Silver Oak Securities Incorporated now owns 3,486 shares of the bank's stock worth $246,000 after acquiring an additional 300 shares in the last quarter. Swiss National Bank raised its holdings 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 acquiring an additional 400 shares during the period. Inspire Investing LLC raised its holdings in shares of Republic Bancorp by 6.3% during the first quarter. Inspire Investing LLC now owns 7,391 shares of the bank's stock valued at $521,000 after acquiring an additional 439 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted 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 valued at $314,000 after acquiring an additional 820 shares in the last quarter. 24.37% of the stock is owned by 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.

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