Republic Bancorp, Inc. (NASDAQ:RBCAA) Short Interest Up 27.4% in April

Key Points

• Short interest rose 27.4% in April to 189,816 shares (about 2.2% of the stock) with a days-to-cover of roughly 2.0, signaling increased bearish positioning.
• Republic Bancorp reported a strong quarter, beating estimates with EPS $2.04 (vs. $1.41 expected) and revenue of $114.57M, while the stock trades near $74.96 with a market cap of $1.47 billion and a P/E of 11.57.
• Institutional ownership is about 24.37%, and analyst sentiment is modestly positive (one Buy, one Hold) giving an average rating of "Moderate Buy."

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 189,816 shares, an increase of 27.4% from the March 31st total of 148,972 shares. Based on an average trading volume of 95,707 shares, the days-to-cover ratio is currently 2.0 days. Approximately 2.2% of the company's stock are sold short.

Republic Bancorp Stock Performance

NASDAQ RBCAA traded down $1.41 during trading on Wednesday, reaching $74.96. 44,914 shares of the company's stock were exchanged, compared to its average volume of 60,023. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.08 and a quick ratio of 1.05. The business has a 50 day moving average price of $71.20 and a 200-day moving average price of $70.44. The stock has a market capitalization of $1.47 billion, a P/E ratio of 11.57 and a beta of 0.55. Republic Bancorp has a fifty-two week low of $63.97 and a fifty-two week high of $78.25.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last issued its earnings results on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, topping the consensus estimate of $1.41 by $0.63. Republic Bancorp had a return on equity of 11.45% and a net margin of 25.22%.The company had revenue of $114.57 million during the quarter, compared to the consensus estimate of $96.60 million.

Institutional Trading of Republic Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of RBCAA. Quarry LP bought a new stake in shares of Republic Bancorp during the third quarter worth approximately $27,000. State of Alaska Department of Revenue acquired a new stake in Republic Bancorp during the 3rd quarter worth approximately $50,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Republic Bancorp in the 3rd quarter valued at $60,000. Russell Investments Group Ltd. grew its holdings in Republic Bancorp by 2,561.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank's stock valued at $60,000 after buying an additional 794 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in Republic Bancorp in the 3rd quarter valued at $73,000. Institutional investors own 24.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Republic Bancorp in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Republic Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Republic Bancorp has an average rating of "Moderate Buy".

About Republic Bancorp

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp's branch network spans key markets in the U.S.

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