Republic Bancorp (NASDAQ:RBCAA) Sees Strong Trading Volume - Time to Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 51,462 shares changed hands during 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.

Analysts Set New Price Targets

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

Republic Bancorp Trading Up 0.1%

The firm's 50-day moving average price is $69.09 and its 200-day moving average price is $67.95. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.34 billion, a P/E ratio of 11.31 and a beta of 0.51.

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

Republic Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, June 20th will be given a $0.451 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, June 20th. Republic Bancorp's dividend payout ratio (DPR) is currently 29.65%.

Insider Activity

In related news, EVP Christy Ames sold 700 shares of the business'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 transaction, the executive vice president now owns 5,044 shares of the company's stock, valued at approximately $355,602. The trade was 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 accessible through the SEC website. Insiders own 56.40% of the company's stock.

Hedge Funds Weigh In On Republic Bancorp

Several hedge funds have recently bought and sold shares of RBCAA. Vanguard Group Inc. lifted its position in Republic Bancorp by 11.7% during the first quarter. Vanguard Group Inc. now owns 575,166 shares of the bank's stock valued at $36,707,000 after purchasing an additional 60,300 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in Republic Bancorp during the fourth quarter valued at approximately $2,931,000. Norges Bank bought a new stake in Republic Bancorp during the fourth quarter valued at approximately $1,803,000. American Century Companies Inc. lifted its position in Republic Bancorp by 12.8% during the first quarter. American Century Companies Inc. now owns 210,003 shares of the bank's stock valued at $13,402,000 after purchasing an additional 23,886 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Republic Bancorp during the first quarter valued at approximately $1,380,000. Hedge funds and other institutional investors own 24.37% of the company's stock.

About Republic Bancorp

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.