Republic Bancorp (NASDAQ:RBCAA) Posts Earnings Results, Beats Estimates By $0.19 EPS

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) released its quarterly earnings results on Friday. The bank reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.19, Zacks reports. Republic Bancorp had a return on equity of 11.92% and a net margin of 22.94%. The firm had revenue of $93.00 million for the quarter, compared to analyst estimates of $93.50 million.

Republic Bancorp Stock Up 0.1%

NASDAQ:RBCAA traded up $0.05 on Friday, hitting $75.68. The stock had a trading volume of 55,973 shares, compared to its average volume of 29,473. The business's fifty day moving average is $72.00 and its 200 day moving average is $68.08. The company has a market cap of $1.48 billion, a PE ratio of 12.47 and a beta of 0.52. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. Republic Bancorp has a 52 week low of $54.88 and a 52 week high of $80.68.

Republic Bancorp Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.80 annualized dividend and a yield of 2.38%. Republic Bancorp's payout ratio is currently 29.65%.

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, EVP Christy Ames sold 700 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $70.50, for a total value of $49,350.00. Following the transaction, the executive vice president owned 5,044 shares in the company, valued at approximately $355,602. This 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 accessible through this hyperlink. Insiders own 56.40% of the company's stock.

Institutional Trading of Republic Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Republic Bancorp by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank's stock valued at $316,000 after acquiring an additional 234 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Republic Bancorp by 199.8% during the first quarter. AQR Capital Management LLC now owns 11,649 shares of the bank's stock valued at $743,000 after acquiring an additional 7,764 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Republic Bancorp during the first quarter valued at approximately $716,000. 24.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RBCAA has been the topic of several research analyst reports. Hovde Group upped their target price on Republic Bancorp from $64.00 to $69.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Raymond James Financial initiated coverage on Republic Bancorp in a research report on Friday, June 27th. They set a "market perform" rating on the 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.