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

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 47,274 shares changed hands during mid-day trading, an increase of 92% from the previous session's volume of 24,650 shares.The stock last traded at $72.22 and had previously closed at $70.81.

Analyst Ratings Changes

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

Republic Bancorp Stock Up 2.5%

The company has a 50-day simple moving average of $69.64 and a 200 day simple moving average of $67.85. The company has a market cap of $1.42 billion, a P/E ratio of 12.02 and a beta of 0.51. The company has a current ratio of 1.10, a quick ratio of 1.09 and a debt-to-equity ratio of 0.36.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $2.42 EPS for the quarter, beating the consensus estimate of $1.86 by $0.56. The company had revenue of $135.84 million for 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 declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.451 per share. The ex-dividend date is Friday, June 20th. This represents a $1.80 annualized dividend and a dividend yield of 2.47%. Republic Bancorp's dividend payout ratio is currently 29.65%.

Insider Activity

In other news, EVP Christy Ames sold 700 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $70.50, for a total transaction of $49,350.00. Following the transaction, the executive vice president now owns 5,044 shares in the company, valued at approximately $355,602. This trade represents a 12.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 56.40% of the company's stock.

Hedge Funds Weigh In On Republic Bancorp

Several institutional investors have recently made changes to their positions in RBCAA. Voya Investment Management LLC grew its stake in Republic Bancorp by 16.9% in the first quarter. Voya Investment Management LLC now owns 5,900 shares of the bank's stock valued at $377,000 after purchasing an additional 855 shares during the last quarter. Strs Ohio purchased a new position in Republic Bancorp in the first quarter valued at about $243,000. Jane Street Group LLC purchased a new position in Republic Bancorp in the first quarter valued at about $716,000. Voleon Capital Management LP purchased a new position in Republic Bancorp in the first quarter valued at about $247,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Republic Bancorp by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank's stock valued at $316,000 after purchasing an additional 234 shares during the last quarter. 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.