Republic Bancorp (NASDAQ:RBCAA) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Shares of Republic Bancorp experienced a significant trading volume increase of 289%, with 83,925 shares traded on Monday, compared to 21,570 shares the day before.
• The bank reported earnings of $1.61 per share for the quarter, exceeding estimates, while also declaring a quarterly dividend of $0.451 with a 2.4% yield.
• Wall Street analysts rate the stock as a "market perform" with a consensus target price of $69.00.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 83,925 shares changed hands during mid-day trading, an increase of 289% from the previous session's volume of 21,570 shares.The stock last traded at $74.62 and had previously closed at $77.31.

Wall Street Analysts Forecast Growth

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

Republic Bancorp Trading Up 1.1%

The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 11.76 and a beta of 0.58. The business has a 50-day moving average of $73.64 and a two-hundred day moving average of $70.22. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 0.35.

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

Republic Bancorp Announces Dividend

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

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, EVP Juan Montano sold 1,223 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $75.53, for a total transaction of $92,373.19. Following the completion of the transaction, the executive vice president owned 4,434 shares in the company, valued at $334,900.02. This trade represents a 21.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Christy Ames sold 400 shares of the firm'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 transaction, the executive vice president owned 4,738 shares of the company's stock, valued at approximately $359,093.02. This represents a 7.79% decrease in their position. The disclosure for this sale can be found here. 56.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Republic Bancorp by 12.8% in the first quarter. American Century Companies Inc. now owns 210,003 shares of the bank's stock valued at $13,402,000 after acquiring an additional 23,886 shares during the last quarter. Bessemer Group Inc. bought a new position in shares of Republic Bancorp in the first quarter valued at approximately $128,000. State of Wyoming raised its stake in shares of Republic Bancorp by 34.1% in the first quarter. State of Wyoming now owns 967 shares of the bank's stock valued at $62,000 after acquiring an additional 246 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Republic Bancorp by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the bank's stock valued at $329,000 after acquiring an additional 164 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Republic Bancorp by 15,400.0% in the first quarter. GAMMA Investing LLC now owns 5,425 shares of the bank's stock valued at $346,000 after acquiring an additional 5,390 shares during the last quarter. 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.