Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 47,274 shares were traded during 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.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Hovde Group boosted 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. Raymond James Financial started coverage on Republic Bancorp in a research note on Friday. They issued a "market perform" rating on the stock.
Check Out Our Latest Report on Republic Bancorp
Republic Bancorp Trading Up 0.3%
The business has a 50 day simple moving average of $69.82 and a 200 day simple moving average of $67.84. 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 company has a market cap of $1.43 billion, a price-to-earnings ratio of 12.06 and a beta of 0.51.
Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.56. The firm had revenue of $135.84 million during the quarter, compared to analysts' expectations 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 20th will be paid a $0.451 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $1.80 dividend on an annualized basis and a yield of 2.46%. Republic Bancorp's payout ratio is presently 29.65%.
Insider Buying and Selling at Republic Bancorp
In other Republic Bancorp news, EVP Christy Ames sold 700 shares of the 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 completion of the sale, the executive vice president now directly owns 5,044 shares in the company, valued at $355,602. This 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 through the SEC website. Corporate insiders own 56.40% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Republic Bancorp by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the bank's stock valued at $329,000 after buying an additional 164 shares during the last quarter. Formidable Asset Management LLC lifted its position in shares of 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 in the last quarter. Hohimer Wealth Management LLC lifted its position in shares of Republic Bancorp by 5.1% in the first quarter. Hohimer Wealth Management LLC now owns 3,879 shares of the bank's stock worth $248,000 after purchasing an additional 187 shares in the last quarter. Meridian Wealth Management LLC boosted its holdings in Republic Bancorp by 3.3% during the fourth quarter. Meridian Wealth Management LLC now owns 6,184 shares of the bank's stock worth $432,000 after purchasing an additional 200 shares during the last quarter. Finally, State of Wyoming grew its position in Republic Bancorp by 34.1% in the first quarter. State of Wyoming now owns 967 shares of the bank's stock valued at $62,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 24.37% of the company's stock.
Republic Bancorp Company Profile
(
Get Free Report)
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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