Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase - Should You Buy?

Key Points

• Republic Bancorp shares traded at about $98.05 amid elevated volume, while the stock’s 50-day and 200-day moving averages stood at $87.86 and $77.86, respectively.
• Analyst sentiment remains cautious: one analyst rates the stock Buy and two rate it Hold, producing an average Hold rating and a $98 price target.
• The bank exceeded quarterly expectations with EPS of $1.68 versus a $1.55 estimate and revenue of $101.27 million; it also announced a $0.495 quarterly dividend, representing a 2.0% annualized yield.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 65,575 shares traded hands during trading, a decline of 16% from the previous session's volume of 78,314 shares.The stock last traded at $98.0540 and had previously closed at $98.44.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. Zacks Research upgraded shares of Republic Bancorp to a "hold" rating in a research report on Monday, July 13th. Hovde Group lifted their price objective on shares of Republic Bancorp from $80.00 to $98.00 and gave the company a "market perform" rating in a report on Monday. Finally, Wall Street Zen upgraded shares of Republic Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $98.00.

Republic Bancorp Stock Performance

The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 15.16 and a beta of 0.56. The firm has a fifty day simple moving average of $87.86 and a 200 day simple moving average of $77.86. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 1.05.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The bank reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.13. Republic Bancorp had a net margin of 25.38% and a return on equity of 11.32%. The firm had revenue of $101.27 million for the quarter, compared to analysts' expectations of $97.60 million. On average, analysts anticipate that Republic Bancorp, Inc. will post 6.65 earnings per share for the current fiscal year.

Republic Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 18th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, September 18th. Republic Bancorp's payout ratio is presently 30.23%.

Insider Activity at Republic Bancorp

In other news, EVP Anthony T. Powell sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total value of $250,620.00. Following the transaction, the executive vice president owned 24,691 shares in the company, valued at $2,062,686.14. This trade represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christy Ames sold 340 shares of Republic Bancorp stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total value of $29,886.00. Following the completion of the sale, the executive vice president directly owned 6,145 shares in the company, valued at $540,145.50. This represents a 5.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 55.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Republic Bancorp

Large investors have recently modified their holdings of the business. Vestor Capital LLC boosted its position in Republic Bancorp by 164.4% during the first quarter. Vestor Capital LLC now owns 5,594 shares of the bank's stock worth $395,000 after acquiring an additional 3,478 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Republic Bancorp by 29.9% during the 1st quarter. Bank of America Corp DE now owns 16,035 shares of the bank's stock worth $1,131,000 after purchasing an additional 3,687 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Republic Bancorp by 46.2% during the 1st quarter. Royal Bank of Canada now owns 3,401 shares of the bank's stock worth $239,000 after purchasing an additional 1,074 shares during the last quarter. Empowered Funds LLC grew its position in shares of Republic Bancorp by 6.1% in the first quarter. Empowered Funds LLC now owns 78,246 shares of the bank's stock valued at $5,520,000 after purchasing an additional 4,511 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of Republic Bancorp by 44.3% in the first quarter. Quantinno Capital Management LP now owns 13,579 shares of the bank's stock valued at $958,000 after purchasing an additional 4,167 shares in the last quarter. Hedge funds and other institutional investors own 24.37% of the company's stock.

Republic Bancorp Company Profile

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp's branch network spans key markets in the U.S.

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