Republic Bancorp (NASDAQ:RBCAA) Hits New 12-Month High on Earnings Beat

Key Points

• Republic Bancorp shares hit a new 52-week high after the bank reported stronger-than-expected quarterly results, with the stock trading as high as $93.88 on Friday.
• The company posted EPS of $1.68 versus estimates of $1.55 and revenue of $101.27 million, also topping analyst expectations of $97.60 million.
• Republic Bancorp recently announced a quarterly dividend of $0.495 per share, payable on October 16, representing an annualized yield of about 2.1%.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $93.88 and last traded at $93.87, with a volume of 33431 shares traded. The stock had previously closed at $90.76.

The bank reported $1.68 EPS for the quarter, beating the consensus estimate of $1.55 by $0.13. The firm had revenue of $101.27 million during the quarter, compared to analysts' expectations of $97.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.

Republic Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 18th will be paid a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, September 18th. Republic Bancorp's dividend payout ratio is presently 30.56%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RBCAA shares. Zacks Research raised shares of Republic Bancorp to a "hold" rating in a report on Monday, July 13th. Weiss Ratings reiterated a "buy (b)" rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. Finally, Wall Street Zen raised shares of Republic Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Insiders Place Their Bets

In other Republic Bancorp news, EVP Anthony T. Powell sold 3,000 shares of Republic Bancorp stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total transaction of $250,620.00. Following the completion of the transaction, the executive vice president directly owned 24,691 shares of the company's stock, valued at approximately $2,062,686.14. This trade represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christy Ames sold 340 shares of the business's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total transaction of $29,886.00. Following the completion of the sale, the executive vice president owned 6,145 shares in the company, valued at $540,145.50. This represents a 5.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 55.90% of the company's stock.

Institutional Investors Weigh In On Republic Bancorp

A number of hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new position in Republic Bancorp in the third quarter valued at about $27,000. Russell Investments Group Ltd. grew its stake in Republic Bancorp by 2,561.3% during the third quarter. Russell Investments Group Ltd. now owns 825 shares of the bank's stock worth $60,000 after buying an additional 794 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Republic Bancorp by 541.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank's stock worth $121,000 after buying an additional 1,483 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Republic Bancorp in the second quarter valued at approximately $121,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Republic Bancorp by 46.4% in the second quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank's stock valued at $138,000 after acquiring an additional 598 shares during the last quarter. Institutional investors and hedge funds own 24.37% of the company's stock.

Republic Bancorp Stock Up 3.3%

The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 14.50 and a beta of 0.56. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $85.83 and a 200 day moving average price of $76.84.

About Republic Bancorp

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp's branch network spans key markets in the U.S.

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