Republic Bancorp, Inc. (NASDAQ:RBCAA) Short Interest Up 36.4% in April

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 94,400 shares, an increase of 36.4% from the March 31st total of 69,200 shares. Currently, 1.2% of the company's stock are short sold. Based on an average trading volume of 28,600 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. US Bancorp DE lifted its position in Republic Bancorp by 294.7% during the first quarter. US Bancorp DE now owns 750 shares of the bank's stock valued at $48,000 after purchasing an additional 560 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Republic Bancorp by 659.0% in the 4th quarter. New York State Teachers Retirement System now owns 759 shares of the bank's stock worth $53,000 after buying an additional 659 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Republic Bancorp in the fourth quarter worth $70,000. Tower Research Capital LLC TRC lifted its holdings in Republic Bancorp by 206.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank's stock valued at $77,000 after acquiring an additional 742 shares during the period. Finally, Bessemer Group Inc. purchased a new position in Republic Bancorp in the first quarter worth about $128,000. Hedge funds and other institutional investors own 24.37% of the company's stock.

Analysts Set New Price Targets

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

Republic Bancorp Stock Up 1.1 %

Shares of NASDAQ:RBCAA traded up $0.79 on Thursday, hitting $71.68. 23,174 shares of the company traded hands, compared to its average volume of 21,099. The stock has a 50 day simple moving average of $64.92 and a 200-day simple moving average of $68.58. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.40 billion, a PE ratio of 13.70 and a beta of 0.51. Republic Bancorp has a 52 week low of $48.67 and a 52 week high of $80.68.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $2.42 earnings per share 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 analyst estimates of $126.90 million. Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

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.