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

Key Points

• Unusually high trading volume: Mid-day volume rose about 15% to ~56,039 shares while the stock traded near $69.18, roughly flat (down 0.1%) from the prior close, signaling increased market interest.
• Mixed fundamentals with a dividend bump: The company missed quarterly EPS ($1.17 vs. $1.30) but beat revenue estimates, and raised its quarterly dividend to $0.495 (annualized $1.98, ~2.8% yield; DPR ~29.5%).
• Analyst stance is lukewarm: MarketBeat shows a consensus rating of "Hold" with an average price target of $69.00, amid divergent recent notes (one downgrade to "sell" and a separate "buy" from Weiss Ratings).

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 56,039 shares changed hands during mid-day trading, an increase of 15% from the previous session's volume of 48,639 shares.The stock last traded at $69.18 and had previously closed at $69.64.

Analyst Ratings Changes

RBCAA has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Republic Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, March 14th. Weiss Ratings restated a "buy (b)" rating on shares of Republic Bancorp in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Republic Bancorp presently has a consensus rating of "Hold" and an average price target of $69.00.

Republic Bancorp Trading Down 0.1%

The company has a quick ratio of 1.05, a current ratio of 1.08 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $1.36 billion, a P/E ratio of 10.35 and a beta of 0.59. The firm's 50-day simple moving average is $70.88 and its 200 day simple moving average is $70.52.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its quarterly earnings data on Friday, January 30th. The bank reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.13). Republic Bancorp had a net margin of 25.19% and a return on equity of 12.27%. The business had revenue of $94.27 million for the quarter, compared to the consensus estimate of $92.50 million.

Republic Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 20th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.8%. This is a positive change from Republic Bancorp's previous quarterly dividend of $0.45. The ex-dividend date is Friday, March 20th. Republic Bancorp's dividend payout ratio (DPR) is presently 29.46%.

Institutional Investors Weigh In On Republic Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of Republic Bancorp in the 3rd quarter worth $27,000. State of Alaska Department of Revenue purchased a new stake in shares of Republic Bancorp during the third quarter valued at $50,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Republic Bancorp in the 3rd quarter valued at $60,000. Russell Investments Group Ltd. boosted its position in shares of Republic Bancorp by 2,561.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank's stock valued at $60,000 after purchasing an additional 794 shares during the period. Finally, Quent Capital LLC purchased a new position in Republic Bancorp in the 3rd quarter worth about $73,000. Institutional investors and hedge funds own 24.37% of the company's stock.

About Republic Bancorp

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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