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 that occurred on Wednesday, September 3rd. The shares were sold at an average price of $75.53, for a total transaction of $92,373.19. Following the transaction, the executive vice president directly owned 4,434 shares of the company's stock, valued at $334,900.02. This represents a 21.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Republic Bancorp Stock Performance

NASDAQ:RBCAA traded down $2.52 during trading hours on Friday, reaching $74.79. The company had a trading volume of 83,925 shares, compared to its average volume of 36,066. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.35. Republic Bancorp, Inc. has a 52 week low of $56.79 and a 52 week high of $80.68. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 11.72 and a beta of 0.58. The firm's 50 day moving average price is $73.65 and its 200-day moving average price is $70.04.

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

Republic Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Republic Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Republic Bancorp by 125.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,279 shares of the bank's stock valued at $167,000 after purchasing an additional 1,268 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Republic Bancorp by 3,384.5% during the second quarter. Lazard Asset Management LLC now owns 18,154 shares of the bank's stock valued at $1,327,000 after buying an additional 17,633 shares during the last quarter. Engineers Gate Manager LP bought a new position in Republic Bancorp during the second quarter valued at approximately $203,000. BNP Paribas Financial Markets boosted its stake in Republic Bancorp by 46.4% during the second quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank's stock valued at $138,000 after buying an additional 598 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in Republic Bancorp by 1.1% during the second quarter. Bridgeway Capital Management LLC now owns 112,875 shares of the bank's stock valued at $8,252,000 after buying an additional 1,219 shares during the last quarter. 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.