Republic Bancorp (NASDAQ:RBCAA) Issues Earnings Results, Beats Expectations By $0.13 EPS

Key Points

• Republic Bancorp beat earnings expectations for the quarter, reporting EPS of $1.68 versus analysts’ estimate of $1.55, and revenue also came in ahead at $101.27 million versus $97.60 million expected.
• The stock rose on the news, trading up to $92.99 and approaching its 52-week high of $93.85, with the company now valued at about $1.82 billion.
• Republic Bancorp announced a quarterly dividend of $0.495 per share, or $1.98 annualized, implying a 2.1% yield and a payout ratio of 30.56%.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) posted its earnings results on Friday. The bank reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.13, FiscalAI reports. The business had revenue of $101.27 million during the quarter, compared to analyst estimates of $97.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.

Republic Bancorp Stock Performance

Shares of RBCAA traded up $2.23 during midday trading on Friday, reaching $92.99. The stock had a trading volume of 27,644 shares, compared to its average volume of 76,830. The firm has a 50 day simple moving average of $85.83 and a 200-day simple moving average of $76.84. Republic Bancorp has a one year low of $63.97 and a one year high of $93.85. The firm has a market cap of $1.82 billion, a PE ratio of 14.35 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.

Republic Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 18th will be given a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.98 annualized dividend and a yield of 2.1%. Republic Bancorp's dividend payout ratio is 30.56%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Republic Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its position in shares of Republic Bancorp by 15.0% during the fourth quarter. Deutsche Bank AG now owns 5,377 shares of the bank's stock valued at $371,000 after buying an additional 701 shares during the last quarter. Citadel Advisors LLC purchased a new position in Republic Bancorp during the third quarter worth about $232,000. BNP Paribas Financial Markets grew its position in Republic Bancorp by 54.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,915 shares of the bank's stock worth $211,000 after purchasing an additional 1,028 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Republic Bancorp in the 2nd quarter valued at about $203,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Republic Bancorp by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,072 shares of the bank's stock worth $371,000 after buying an additional 187 shares during the last quarter. 24.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RBCAA. Weiss Ratings reiterated a "buy (b)" rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. Wall Street Zen upgraded shares of Republic Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Finally, Zacks Research upgraded shares of Republic Bancorp to a "hold" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

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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