Republic Bancorp (NASDAQ:RBCAA) EVP Juan Montano Sells 1,223 Shares

Key Points

• Executive Vice President Juan Montano sold 1,223 shares of Republic Bancorp at an average price of $75.53, representing a 21.62% decrease in his ownership position.
• The bank reported $1.61 earnings per share in its last quarter, exceeding expectations by $0.19, with a revenue of $93 million.
• Republic Bancorp declared a quarterly dividend of $0.451, with the annualized yield noted at 2.4%, set to be paid to shareholders on October 17th.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) EVP Juan Montano sold 1,223 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $92,373.19. Following the sale, the executive vice president directly owned 4,434 shares in the company, valued at approximately $334,900.02. The trade was a 21.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Republic Bancorp Stock Up 0.4%

NASDAQ RBCAA traded up $0.29 during trading on Monday, hitting $76.14. The company's stock had a trading volume of 2,936 shares, compared to its average volume of 35,950. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 1.07. The company has a market cap of $1.49 billion, a PE ratio of 11.93 and a beta of 0.58. The business's 50 day simple moving average is $73.64 and its 200-day simple moving average is $69.85. Republic Bancorp, Inc. has a fifty-two week low of $56.79 and a fifty-two week high of $80.68.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The bank reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.19. Republic Bancorp had a return on equity of 12.23% and a net margin of 23.98%.The business had revenue of $93.00 million during the quarter, compared to the consensus estimate of $93.50 million.

Republic Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 19th will be issued a $0.451 dividend. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 19th. Republic Bancorp's dividend payout ratio (DPR) is presently 28.21%.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial started coverage on Republic Bancorp in a report on Friday, June 27th. They issued a "market perform" rating on the stock. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Republic Bancorp currently has an average rating of "Hold" and a consensus price target of $69.00.

Institutional Investors Weigh In On Republic Bancorp

Several institutional investors and hedge funds have recently modified their holdings of RBCAA. CWM LLC raised its holdings in shares of Republic Bancorp by 68.0% in the 2nd quarter. CWM LLC now owns 608 shares of the bank's stock valued at $44,000 after buying an additional 246 shares during the period. US Bancorp DE raised its holdings in shares of Republic Bancorp by 294.7% in the 1st quarter. US Bancorp DE now owns 750 shares of the bank's stock valued at $48,000 after buying an additional 560 shares during the period. State of Wyoming raised its holdings 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 buying an additional 246 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Republic Bancorp in the 4th quarter valued at $70,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Republic Bancorp in the 2nd quarter valued at $121,000. Hedge funds and other institutional investors own 24.37% of the company's stock.

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.

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