Raymond James Financial Begins Coverage on Republic Bancorp (NASDAQ:RBCAA)

Equities research analysts at Raymond James Financial assumed coverage on shares of Republic Bancorp (NASDAQ:RBCAA - Get Free Report) in a report issued on Friday,Briefing.com Automated Import reports. The brokerage set a "market perform" rating on the bank's stock.

Separately, Hovde Group raised their target price on Republic Bancorp from $64.00 to $69.00 and gave the company a "market perform" rating in a research report on Friday, April 25th.

Republic Bancorp Price Performance

Shares of RBCAA opened at $72.97 on Friday. The stock has a fifty day moving average price of $69.82 and a 200 day moving average price of $67.84. The company has a market cap of $1.42 billion, a P/E ratio of 12.02 and a beta of 0.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.09. Republic Bancorp has a 12 month low of $48.90 and a 12 month high of $80.68.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.56. Republic Bancorp had a net margin of 22.94% and a return on equity of 11.92%. The firm had revenue of $135.84 million during the quarter, compared to analyst estimates of $126.90 million.

Insider Buying and Selling

In related news, EVP Christy Ames sold 700 shares of Republic Bancorp stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $70.50, for a total transaction of $49,350.00. Following the transaction, the executive vice president now directly owns 5,044 shares of the company's stock, valued at $355,602. The trade was a 12.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 56.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Republic Bancorp

Several large investors have recently made changes to their positions in the business. US Bancorp DE lifted its position in shares of Republic Bancorp by 294.7% during the 1st quarter. US Bancorp DE now owns 750 shares of the bank's stock valued at $48,000 after acquiring an additional 560 shares during the last quarter. State of Wyoming boosted its position in shares of Republic Bancorp by 34.1% in the 1st quarter. State of Wyoming now owns 967 shares of the bank's stock valued at $62,000 after purchasing an additional 246 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Republic Bancorp in the 4th quarter valued at $70,000. Tower Research Capital LLC TRC increased its stake in Republic Bancorp by 206.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank's stock worth $77,000 after purchasing an additional 742 shares in the last quarter. Finally, Bessemer Group Inc. acquired a new stake in Republic Bancorp during the 1st quarter worth about $128,000. Institutional investors own 24.37% of the company's stock.

About Republic Bancorp

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.

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