Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase - Here's What Happened

Key Points

• Republic Bancorp experienced a significant trading day with approximately 15,674 shares being exchanged, although this was a 24% decline from the previous session's volume.
• Raymond James Financial issued a "market perform" rating for Republic Bancorp, with analysts maintaining an average rating of "Hold" and a consensus target price of $69.00.
• The company announced a quarterly dividend of $0.451 per share, which will be paid on October 17th, supporting an annual yield of 2.4%.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 15,674 shares changed hands during trading, a decline of 24% from the previous session's volume of 20,525 shares.The stock last traded at $76.15 and had previously closed at $75.96.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial assumed coverage on shares of Republic Bancorp in a research report on Friday, June 27th. They issued a "market perform" rating for the company. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Republic Bancorp presently has an average rating of "Hold" and a consensus target price of $69.00.

Republic Bancorp Stock Down 0.1%

The business's 50 day moving average price is $73.68 and its 200 day moving average price is $69.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.08. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 11.94 and a beta of 0.58.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The bank reported $1.61 EPS for the quarter, topping the consensus estimate of $1.42 by $0.19. Republic Bancorp had a return on equity of 12.23% and a net margin of 23.98%.The business had revenue of $93.00 million for the quarter, compared to analyst estimates of $93.50 million.

Republic Bancorp Announces Dividend

The company also recently announced 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 2.4%. Republic Bancorp's dividend payout ratio is 28.21%.

Hedge Funds Weigh In On Republic Bancorp

A number of large investors have recently modified their holdings of the company. American Century Companies Inc. grew its stake in Republic Bancorp by 12.8% during the 1st quarter. American Century Companies Inc. now owns 210,003 shares of the bank's stock valued at $13,402,000 after purchasing an additional 23,886 shares in the last quarter. Bessemer Group Inc. bought a new stake in Republic Bancorp during the 1st quarter valued at $128,000. State of Wyoming raised its stake in shares of Republic Bancorp by 34.1% in the 1st quarter. State of Wyoming now owns 967 shares of the bank's stock worth $62,000 after buying an additional 246 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Republic Bancorp by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the bank's stock worth $329,000 after buying an additional 164 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Republic Bancorp by 15,400.0% in the 1st quarter. GAMMA Investing LLC now owns 5,425 shares of the bank's stock worth $346,000 after buying an additional 5,390 shares in the last quarter. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

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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