Hovde Group Issues Positive Forecast for Republic Bancorp (NASDAQ:RBCAA) Stock Price

Republic Bancorp (NASDAQ:RBCAA - Free Report) had its price objective upped by Hovde Group from $64.00 to $69.00 in a research note published on Friday morning, Marketbeat reports. They currently have a market perform rating on the bank's stock.

Republic Bancorp Stock Performance

RBCAA stock traded down $0.87 during midday trading on Friday, reaching $67.78. The stock had a trading volume of 2,879 shares, compared to its average volume of 20,919. The firm has a fifty day simple moving average of $64.54 and a two-hundred day simple moving average of $68.48. Republic Bancorp has a 52-week low of $48.67 and a 52-week high of $80.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12. The stock has a market cap of $1.32 billion, a PE ratio of 12.96 and a beta of 0.46.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.56. The business had revenue of $135.84 million for the quarter, compared to the consensus estimate of $126.90 million. Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%.

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, EVP John T. Rippy sold 3,082 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total value of $203,381.18. Following the sale, the executive vice president now directly owns 23,105 shares of the company's stock, valued at approximately $1,524,698.95. This trade represents a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 56.40% of the company's stock.

Institutional Trading of Republic Bancorp

Institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System grew its holdings in Republic Bancorp by 659.0% in the fourth quarter. New York State Teachers Retirement System now owns 759 shares of the bank's stock valued at $53,000 after purchasing an additional 659 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Republic Bancorp in the fourth quarter valued at approximately $70,000. Tower Research Capital LLC TRC grew its holdings in Republic Bancorp by 206.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank's stock valued at $77,000 after purchasing an additional 742 shares during the period. Bessemer Group Inc. acquired a new stake in Republic Bancorp in the first quarter valued at approximately $128,000. Finally, Sei Investments Co. acquired a new stake in Republic Bancorp in the fourth quarter valued at approximately $208,000. 24.37% of the stock is owned by institutional investors and hedge funds.

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.