Republic Bancorp (NASDAQ:RBCAA) Issues Quarterly Earnings Results

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) posted its earnings results on Friday. The bank reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.19, Zacks reports. Republic Bancorp had a net margin of 23.98% and a return on equity of 12.41%. The business had revenue of $93.00 million for the quarter, compared to analysts' expectations of $93.50 million.

Republic Bancorp Trading Up 0.3%

RBCAA stock traded up $0.25 during mid-day trading on Monday, hitting $75.93. 7,031 shares of the company were exchanged, compared to its average volume of 29,400. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.48 billion, a P/E ratio of 11.90 and a beta of 0.52. The business has a fifty day simple moving average of $72.00 and a 200-day simple moving average of $68.06. Republic Bancorp has a 12-month low of $54.88 and a 12-month high of $80.68.

Republic Bancorp Announces Dividend

The company also recently disclosed 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, September 19th. Republic Bancorp's dividend payout ratio is currently 28.21%.

Wall Street Analyst Weigh In

A number of brokerages have commented on RBCAA. Hovde Group upped their target price on shares of Republic Bancorp from $64.00 to $69.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Raymond James Financial began coverage on shares of Republic Bancorp in a report on Friday, June 27th. They set a "market perform" rating for the company.

Insider Activity

In related news, EVP Christy Ames sold 700 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.50, for a total value of $49,350.00. Following the sale, the executive vice president owned 5,044 shares of the company's stock, valued at $355,602. This trade represents a 12.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 56.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new stake in shares of Republic Bancorp during the 1st quarter worth about $716,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Republic Bancorp by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank's stock worth $316,000 after acquiring an additional 234 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Republic Bancorp by 199.8% in the 1st quarter. AQR Capital Management LLC now owns 11,649 shares of the bank's stock worth $743,000 after acquiring an additional 7,764 shares during the period. Institutional investors and hedge funds 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.