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

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 51,462 shares changed hands during mid-day trading, an increase of 117% from the previous session's volume of 23,735 shares.The stock last traded at $68.81 and had previously closed at $68.54.

Analyst Ratings Changes

Separately, Hovde Group increased their price objective on Republic Bancorp from $64.00 to $69.00 and gave the company a "market perform" rating in a report on Friday, April 25th.

Republic Bancorp Stock Performance

The company has a 50 day simple moving average of $68.66 and a 200-day simple moving average of $68.05. The stock has a market capitalization of $1.34 billion, a P/E ratio of 11.34 and a beta of 0.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.10 and a quick ratio of 1.09.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.56. The business had revenue of $135.84 million for the quarter, compared to analyst estimates of $126.90 million. Republic Bancorp had a net margin of 22.94% and a return on equity of 11.92%.

Republic Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Friday, June 20th will be paid a $0.451 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Friday, June 20th. Republic Bancorp's payout ratio is currently 29.65%.

Insider Activity

In related news, EVP Christy Ames sold 700 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $70.50, for a total value of $49,350.00. Following the sale, the executive vice president now directly owns 5,044 shares in the company, valued at approximately $355,602. The trade was a 12.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 56.40% of the company's stock.

Hedge Funds Weigh In On Republic Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE increased its stake in Republic Bancorp by 294.7% during the 1st quarter. US Bancorp DE now owns 750 shares of the bank's stock worth $48,000 after buying an additional 560 shares in the last quarter. New York State Teachers Retirement System lifted its stake in shares of Republic Bancorp by 659.0% in the fourth quarter. New York State Teachers Retirement System now owns 759 shares of the bank's stock worth $53,000 after buying an additional 659 shares in the last quarter. State of Wyoming boosted its position in Republic Bancorp by 34.1% during the first quarter. State of Wyoming now owns 967 shares of the bank's stock worth $62,000 after acquiring an additional 246 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Republic Bancorp in the 4th quarter valued at about $70,000. Finally, Tower Research Capital LLC TRC lifted its stake in Republic Bancorp by 206.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank's stock worth $77,000 after purchasing an additional 742 shares in the last quarter. Institutional investors and hedge funds 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.

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