Insider Selling: Republic Bancorp (NASDAQ:RBCAA) EVP Sells 400 Shares of Stock

Key Points

• EVP Christy Ames of Republic Bancorp sold 400 shares at an average price of $75.79, totaling $30,316, which represents a 7.79% decrease in her ownership.
• The company reported $1.61 earnings per share for the last quarter, beating analysts' expectations of $1.42, but narrowly missing revenue forecasts with $93 million in revenue.
• Republic Bancorp declared a quarterly dividend of $0.451 per share, to be paid on October 17th, representing an annual yield of 2.4%.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) EVP Christy Ames sold 400 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $75.79, for a total value of $30,316.00. Following the sale, the executive vice president owned 4,738 shares of the company's stock, valued at approximately $359,093.02. The trade was a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Republic Bancorp Price Performance

Shares of RBCAA stock traded down $2.52 on Friday, hitting $74.79. 83,925 shares of the company's stock were exchanged, compared to its average volume of 19,533. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 1.07. Republic Bancorp, Inc. has a 12 month low of $56.79 and a 12 month high of $80.68. The stock has a market cap of $1.46 billion, a P/E ratio of 11.72 and a beta of 0.58. The company has a 50 day moving average of $73.67 and a 200 day moving average of $70.13.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last announced its quarterly earnings data 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 Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 19th. Republic Bancorp's dividend payout ratio is presently 28.21%.

Institutional Investors Weigh In On Republic Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in RBCAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Republic Bancorp by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the bank's stock worth $329,000 after acquiring an additional 164 shares in the last quarter. Formidable Asset Management LLC lifted its holdings in shares of Republic Bancorp by 0.6% in the first quarter. Formidable Asset Management LLC now owns 30,382 shares of the bank's stock valued at $1,939,000 after purchasing an additional 183 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in shares of Republic Bancorp by 5.1% in the first quarter. Hohimer Wealth Management LLC now owns 3,879 shares of the bank's stock valued at $248,000 after purchasing an additional 187 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Republic Bancorp by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,072 shares of the bank's stock valued at $371,000 after purchasing an additional 187 shares in the last quarter. Finally, State of Wyoming increased its position in shares of Republic Bancorp by 34.1% during the first quarter. State of Wyoming now owns 967 shares of the bank's stock valued at $62,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 24.37% of the company's stock.

Analyst Upgrades and Downgrades

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

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.