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

Equities researchers at Raymond James Financial began coverage on shares of Republic Bancorp (NASDAQ:RBCAA - Get Free Report) in a research note issued on Friday, Marketbeat Ratings reports. The firm set a "market perform" rating on the bank's stock.

Separately, Hovde Group upped their price objective on shares of Republic Bancorp from $64.00 to $69.00 and gave the stock a "market perform" rating in a report on Friday, April 25th.

Republic Bancorp Price Performance

Shares of RBCAA stock traded up $0.28 during trading hours on Friday, reaching $73.11. The stock had a trading volume of 95,262 shares, compared to its average volume of 37,468. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.36. Republic Bancorp has a 12 month low of $50.80 and a 12 month high of $80.68. The firm has a market capitalization of $1.43 billion, a PE ratio of 12.04 and a beta of 0.51. The stock's fifty day simple moving average is $70.00 and its 200 day simple moving average is $67.70.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $2.42 EPS for the quarter, topping 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 company had revenue of $135.84 million for the quarter, compared to analysts' expectations of $126.90 million.

Insider Activity at Republic Bancorp

In other news, EVP Christy Ames sold 700 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.50, for a total value of $49,350.00. Following the transaction, the executive vice president now owns 5,044 shares in the company, valued at approximately $355,602. This represents a 12.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 56.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Republic Bancorp

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Republic Bancorp by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the bank's stock worth $329,000 after buying an additional 164 shares during the last quarter. Formidable Asset Management LLC increased its stake in shares of Republic Bancorp by 0.6% in the 1st quarter. Formidable Asset Management LLC now owns 30,382 shares of the bank's stock worth $1,939,000 after purchasing an additional 183 shares in the last quarter. Hohimer Wealth Management LLC lifted its position in Republic Bancorp by 5.1% during the first quarter. Hohimer Wealth Management LLC now owns 3,879 shares of the bank's stock valued at $248,000 after purchasing an additional 187 shares in the last quarter. Meridian Wealth Management LLC raised its stake in shares of Republic Bancorp by 3.3% in the fourth quarter. Meridian Wealth Management LLC now owns 6,184 shares of the bank's stock worth $432,000 after buying an additional 200 shares during the period. Finally, State of Wyoming lifted its position in shares of Republic Bancorp by 34.1% during the 1st quarter. State of Wyoming now owns 967 shares of the bank's stock valued at $62,000 after buying an additional 246 shares in the last quarter. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Republic Bancorp Company Profile

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.