Republic Bancorp, Inc. (NASDAQ:RBCAA) Sees Significant Decrease in Short Interest

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 75,700 shares, a decrease of 15.4% from the April 30th total of 89,500 shares. Based on an average daily trading volume, of 29,600 shares, the short-interest ratio is currently 2.6 days. Currently, 0.9% of the shares of the company are short sold.

Republic Bancorp Stock Performance

RBCAA stock traded up $2.24 during midday trading on Friday, reaching $70.39. 36,499 shares of the company's stock traded hands, compared to its average volume of 21,857. Republic Bancorp has a 52-week low of $48.67 and a 52-week high of $80.68. The stock has a market cap of $1.37 billion, a P/E ratio of 13.46 and a beta of 0.51. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The stock's 50-day moving average is $67.56 and its 200 day moving average is $68.47.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.56. The business had revenue of $135.84 million during the quarter, compared to analysts' expectations of $126.90 million. Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Republic Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, June 20th will be paid a $0.451 dividend. The ex-dividend date is Friday, June 20th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.56%. Republic Bancorp's dividend payout ratio (DPR) is presently 29.65%.

Institutional Trading of Republic Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE increased its stake in shares of Republic Bancorp by 294.7% in the first quarter. US Bancorp DE now owns 750 shares of the bank's stock worth $48,000 after purchasing an additional 560 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Republic Bancorp by 659.0% in the fourth quarter. New York State Teachers Retirement System now owns 759 shares of the bank's stock worth $53,000 after purchasing an additional 659 shares in the last quarter. State of Wyoming increased its stake in shares of Republic Bancorp by 34.1% in the first quarter. State of Wyoming now owns 967 shares of the bank's stock worth $62,000 after purchasing an additional 246 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Republic Bancorp in the fourth quarter worth $70,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Republic Bancorp by 206.7% in the fourth 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. 24.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.