Republic Bancorp (NASDAQ:RBCAA) Releases Earnings Results, Beats Estimates By $0.14 EPS

Key Points

• Republic Bancorp reported quarterly earnings of $1.52 EPS, exceeding analysts' expectations by $0.14.
• The company's stock declined 4.3% following the earnings announcement, with a current market cap of $1.34 billion.
• Insider trading activity includes EVP Christy Ames selling 400 shares, resulting in a 7.79% decrease in their stock position.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) released its quarterly earnings data on Friday. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.14, Zacks reports. Republic Bancorp had a return on equity of 12.23% and a net margin of 23.98%.

Republic Bancorp Stock Down 4.3%

Republic Bancorp stock opened at $68.42 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 1.07. Republic Bancorp has a fifty-two week low of $56.79 and a fifty-two week high of $80.68. The firm has a fifty day moving average price of $73.63 and a two-hundred day moving average price of $71.00. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 10.72 and a beta of 0.53.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RBCAA. Raymond James Financial initiated coverage on Republic Bancorp in a report on Friday, June 27th. They set a "market perform" rating for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Republic Bancorp in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $69.00.

Insider Transactions at Republic Bancorp

In related news, EVP Christy Ames sold 400 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $75.79, for a total transaction of $30,316.00. Following the completion of the transaction, the executive vice president owned 4,738 shares of the company's stock, valued at approximately $359,093.02. The trade was a 7.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Juan Montano sold 1,223 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $92,373.19. Following the completion of the sale, the executive vice president directly owned 4,434 shares in the company, valued at $334,900.02. This trade represents a 21.62% decrease in their position. The disclosure for this sale can be found here. Insiders own 56.40% of the company's stock.

Institutional Trading of Republic Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of RBCAA. Raymond James Financial Inc. bought a new position in shares of Republic Bancorp during the 2nd quarter worth about $121,000. BNP Paribas Financial Markets lifted its position in shares of Republic Bancorp by 46.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank's stock worth $138,000 after acquiring an additional 598 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Republic Bancorp by 125.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,279 shares of the bank's stock worth $167,000 after purchasing an additional 1,268 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Republic Bancorp during the second quarter valued at approximately $203,000. Finally, Sei Investments Co. raised its stake in shares of Republic Bancorp by 15.5% in the second quarter. Sei Investments Co. now owns 3,444 shares of the bank's stock valued at $252,000 after purchasing an additional 463 shares in the last quarter. 24.37% of the stock is currently owned by institutional investors and hedge funds.

About Republic Bancorp

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.

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