Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase - What's Next?

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%.

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw strong trading volume on Thursday . 15,674 shares traded hands during mid-day 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.

Analyst Upgrades and Downgrades

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

Republic Bancorp Price Performance

The firm has a market capitalization of $1.46 billion, a PE ratio of 11.71 and a beta of 0.58. The business has a 50-day moving average of $73.64 and a 200 day moving average of $69.91. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.35.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last announced its earnings results on Friday, July 18th. The bank reported $1.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $93.00 million during the quarter, compared to analyst estimates of $93.50 million.

Republic Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 19th will be given a dividend of $0.451 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. Republic Bancorp's dividend payout ratio (DPR) is currently 28.21%.

Insider Activity

In other news, EVP Juan Montano sold 1,223 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $75.53, for a total transaction of $92,373.19. Following the completion of the sale, the executive vice president directly owned 4,434 shares of the company's stock, valued at $334,900.02. This trade represents a 21.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 56.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake 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 acquiring an additional 1,268 shares during the period. Lazard Asset Management LLC boosted its stake in Republic Bancorp by 3,384.5% in the 2nd quarter. Lazard Asset Management LLC now owns 18,154 shares of the bank's stock worth $1,327,000 after purchasing an additional 17,633 shares during the period. Engineers Gate Manager LP bought a new position in Republic Bancorp in the 2nd quarter worth about $203,000. BNP Paribas Financial Markets boosted its stake in 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 purchasing an additional 598 shares during the period. Finally, Bridgeway Capital Management LLC boosted its stake in Republic Bancorp by 1.1% in the 2nd quarter. Bridgeway Capital Management LLC now owns 112,875 shares of the bank's stock worth $8,252,000 after purchasing an additional 1,219 shares during the period. Institutional investors 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.