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 firm'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 completion of the sale, the executive vice president owned 4,738 shares of the company's stock, valued at approximately $359,093.02. This trade represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Republic Bancorp Trading Down 3.3%

Shares of NASDAQ RBCAA traded down $2.52 during midday trading on Friday, reaching $74.79. 83,925 shares of the 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. The business has a 50-day simple moving average of $73.67 and a two-hundred day simple moving average of $70.10. Republic Bancorp, Inc. has a 12 month low of $56.79 and a 12 month high of $80.68. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 11.72 and a beta of 0.58.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The bank reported $1.61 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 the consensus estimate of $93.50 million. Republic Bancorp had a return on equity of 12.23% and a net margin of 23.98%.

Republic Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Republic Bancorp

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Republic Bancorp by 11.7% in the first quarter. Vanguard Group Inc. now owns 575,166 shares of the bank's stock valued at $36,707,000 after acquiring an additional 60,300 shares during the period. American Century Companies Inc. boosted its position in shares of Republic Bancorp by 13.8% in the 2nd quarter. American Century Companies Inc. now owns 238,979 shares of the bank's stock worth $17,472,000 after purchasing an additional 28,976 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Republic Bancorp by 9.0% in the second quarter. Geode Capital Management LLC now owns 234,101 shares of the bank's stock valued at $17,118,000 after purchasing an additional 19,271 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Republic Bancorp by 1.1% in the second quarter. Bridgeway Capital Management LLC now owns 112,875 shares of the bank's stock worth $8,252,000 after buying an additional 1,219 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Republic Bancorp by 4.3% in the 4th quarter. Northern Trust Corp now owns 85,367 shares of the bank's stock valued at $5,965,000 after purchasing an additional 3,512 shares in the last quarter. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Raymond James Financial assumed coverage on Republic Bancorp in a research note on Friday, June 27th. They set a "market perform" rating on the stock. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $69.00.

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.