Republic Bancorp (NASDAQ:RBCAA) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Republic Bancorp shares rose above their 200-day moving average, reaching $97.08 and last trading at $96.67, compared with a 200-day average of $83.56.
• Analysts maintain a generally cautious outlook: one rates the stock a Buy and three rate it Hold, resulting in an overall “Hold” consensus and an average price target of $98.
• The bank exceeded quarterly expectations, reporting $1.68 in earnings per share and $101.27 million in revenue, while announcing a quarterly dividend of $0.495 per share, representing a 2.0% yield.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $83.56 and traded as high as $97.08. Republic Bancorp shares last traded at $96.67, with a volume of 74,442 shares changing hands.

Wall Street Analysts Forecast Growth

RBCAA has been the subject of a number of research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Republic Bancorp in a research report on Friday, September 4th. Hovde Group upped their target price 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. Zacks Research upgraded Republic Bancorp to a "hold" rating in a research note on Monday, July 13th. Finally, Raymond James Financial initiated coverage on Republic Bancorp in a research report on Wednesday, September 2nd. They issued a "hold" rating for the company. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Republic Bancorp presently has an average rating of "Hold" and an average target price of $98.00.

Republic Bancorp Price Performance

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 stock has a market cap of $1.90 billion, a price-to-earnings ratio of 14.76 and a beta of 0.53. The company's 50-day moving average is $95.11 and its 200-day moving average is $83.56.

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

Republic Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 18th will be given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, September 18th. Republic Bancorp's dividend payout ratio (DPR) is 30.23%.

Institutional Trading of Republic Bancorp

Large investors have recently bought and sold shares of the stock. Apollon Wealth Management LLC acquired a new position in Republic Bancorp during the first quarter worth $213,000. Arizona State Retirement System acquired a new stake in shares of Republic Bancorp in the 2nd quarter valued at $218,000. Royal Bank of Canada grew its holdings in shares of Republic Bancorp by 46.2% in the 1st quarter. Royal Bank of Canada now owns 3,401 shares of the bank's stock worth $239,000 after purchasing an additional 1,074 shares during the last quarter. Silver Oak Securities Incorporated increased its position in shares of Republic Bancorp by 9.4% during the 1st quarter. Silver Oak Securities Incorporated now owns 3,486 shares of the bank's stock worth $246,000 after purchasing an additional 300 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Republic Bancorp by 22.6% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,444 shares of the bank's stock worth $314,000 after purchasing an additional 820 shares in the last quarter. 24.37% of the stock is currently owned by institutional investors.

Republic Bancorp Company Profile

Republic Bancorp, Inc is a Louisville, Kentucky-based bank holding company and the parent organization of Republic Bank & Trust Company. Founded in 1974, the company provides banking and financial services to consumers, businesses and institutions through its banking operations and specialty finance businesses.

Republic Bank offers deposit accounts, residential and commercial loans, consumer lending, treasury management, wealth management and other traditional banking products. Its services are delivered through banking centers and digital channels, with a primary presence in Kentucky and additional operations in selected markets including Indiana, Florida and Tennessee.

The company also operates specialty finance businesses, including tax refund-related services that support tax preparers and consumers nationwide.

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