Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 32,987 shares changed hands during mid-day trading, an increase of 14% from the previous session's volume of 28,883 shares.The stock last traded at $74.71 and had previously closed at $75.32.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on RBCAA. Raymond James Financial initiated coverage on shares of Republic Bancorp in a research report on Friday, June 27th. They set a "market perform" rating for the company. Hovde Group raised their target price on shares of Republic Bancorp from $64.00 to $69.00 and gave the company a "market perform" rating in a research note on Friday, April 25th.
Get Our Latest Analysis on Republic Bancorp
Republic Bancorp Stock Up 1.5%
The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.09. The stock has a 50 day simple moving average of $71.62 and a 200-day simple moving average of $67.89. The firm has a market cap of $1.47 billion, a PE ratio of 12.40 and a beta of 0.52.
Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.56. The firm had revenue of $135.84 million during the quarter, compared to the consensus estimate of $126.90 million. Republic Bancorp had a return on equity of 11.92% and a net margin of 22.94%.
Republic Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 20th will be issued a $0.451 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.80 annualized dividend and a yield of 2.40%. Republic Bancorp's dividend payout ratio (DPR) is presently 29.65%.
Insider Activity
In related news, EVP Christy Ames sold 700 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.50, for a total transaction of $49,350.00. Following the completion of the sale, the executive vice president owned 5,044 shares of the company's stock, valued at $355,602. This trade represents a 12.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 56.40% of the company's stock.
Institutional Trading of Republic Bancorp
Several institutional investors have recently added to or reduced their stakes in RBCAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 worth $329,000 after acquiring an additional 164 shares during the period. Formidable Asset Management LLC boosted its holdings in Republic Bancorp by 0.6% in the first quarter. Formidable Asset Management LLC now owns 30,382 shares of the bank's stock worth $1,939,000 after purchasing an additional 183 shares during the last quarter. Hohimer Wealth Management LLC grew its position in Republic Bancorp by 5.1% in the 1st quarter. Hohimer Wealth Management LLC now owns 3,879 shares of the bank's stock worth $248,000 after purchasing an additional 187 shares during the period. State of Wyoming grew its position in 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 purchasing an additional 246 shares during the period. Finally, Denali Advisors LLC raised its stake in Republic Bancorp by 1.5% during the 1st quarter. Denali Advisors LLC now owns 19,984 shares of the bank's stock valued at $1,275,000 after buying an additional 305 shares during the last quarter. 24.37% of the stock is currently owned by hedge funds and other institutional investors.
About Republic Bancorp
(
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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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