Republic Bancorp (NASDAQ:RBCAA) Sets New 1-Year High - Should You Buy?

Key Points

• Republic Bancorp shares hit a new 52-week high, trading as high as $93.85 and closing near $92.35 on unusually light volume.
• The company’s recent earnings topped expectations, with EPS of $2.04 versus $1.41 expected and revenue of $114.57 million beating estimates, while analysts currently view the stock as a Moderate Buy.
• Republic Bancorp announced a quarterly dividend of $0.495 per share, equal to a 2.1% annualized yield, even as some executives recently sold shares and insiders still hold a majority stake.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as $93.85 and last traded at $92.3480, with a volume of 10995 shares traded. The stock had previously closed at $92.32.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RBCAA. Wall Street Zen upgraded Republic Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. Zacks Research upgraded shares of Republic Bancorp to a "hold" rating in a report on Monday. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Republic Bancorp currently has a consensus rating of "Moderate Buy".

Republic Bancorp Trading Down 0.2%

The stock has a market capitalization of $1.81 billion, a PE ratio of 14.22 and a beta of 0.56. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The business's 50-day moving average is $84.39 and its two-hundred day moving average is $76.07.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, beating the consensus estimate of $1.41 by $0.63. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.The company had revenue of $114.57 million for the quarter, compared to analyst estimates of $96.60 million. On average, analysts predict that Republic Bancorp, Inc. will post 6.65 earnings per share for the current year.

Republic Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 18th will be issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, September 18th. Republic Bancorp's dividend payout ratio (DPR) is presently 30.56%.

Insider Activity at Republic Bancorp

In other Republic Bancorp news, EVP Anthony T. Powell sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total value of $250,620.00. Following the completion of the transaction, the executive vice president owned 24,691 shares in the company, valued at $2,062,686.14. This represents a 10.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christy Ames sold 340 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total transaction of $29,886.00. Following the completion of the sale, the executive vice president directly owned 6,145 shares of the company's stock, valued at $540,145.50. This trade represents a 5.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 55.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Republic Bancorp in the third quarter valued at $27,000. Russell Investments Group Ltd. increased its stake in Republic Bancorp by 2,561.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank's stock worth $60,000 after buying an additional 794 shares during the period. Raymond James Financial Inc. purchased a new stake in Republic Bancorp during the 2nd quarter worth $121,000. CANADA LIFE ASSURANCE Co lifted its holdings in Republic Bancorp by 541.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank's stock worth $121,000 after buying an additional 1,483 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Republic Bancorp by 46.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank's stock worth $138,000 after buying an additional 598 shares in the last quarter. 24.37% of the stock is owned by institutional investors and hedge funds.

About Republic Bancorp

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp's branch network spans key markets in the U.S.

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