Republic Bancorp (NASDAQ:RBCAA) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Republic Bancorp's shares recently crossed above their 200-day moving average, trading at $68.63 with a peak of $69.05 during trading on Monday.
• Analysts are optimistic about the stock, with Hovde Group increasing its price target from $64.00 to $69.00 and assigning a "market perform" rating.
• The company reported earnings of $1.61 per share for the last quarter, surpassing analyst expectations, while also declaring a quarterly dividend of $0.451 per share, effective October 17th.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $68.40 and traded as high as $69.05. Republic Bancorp shares last traded at $68.63, with a volume of 29,710 shares.

Wall Street Analysts Forecast Growth

RBCAA has been the subject of several analyst reports. Raymond James Financial assumed coverage on Republic Bancorp in a research note on Friday, June 27th. They issued a "market perform" rating for the company. Hovde Group increased their price target 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 Stock Performance

The company's 50-day moving average is $71.70 and its two-hundred day moving average is $68.40. The company has a market capitalization of $1.34 billion, a P/E ratio of 10.77 and a beta of 0.56. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.36.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The bank reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.19. The business had revenue of $93.00 million during the quarter, compared to analysts' expectations of $93.50 million. Republic Bancorp had a net margin of 23.98% and a return on equity of 12.41%.

Republic Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, September 19th will be given a dividend of $0.451 per share. The ex-dividend date is Friday, September 19th. This represents a $1.80 dividend on an annualized basis and a yield of 2.6%. Republic Bancorp's dividend payout ratio (DPR) is presently 28.21%.

Insiders Place Their Bets

In other Republic Bancorp news, EVP Christy Ames sold 700 shares of the company's stock in a transaction that occurred on 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 owned 5,044 shares of the company's stock, valued at $355,602. This represents a 12.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 56.40% of the stock is owned by insiders.

Institutional Trading of Republic Bancorp

A number of institutional investors have recently made changes to their positions in RBCAA. Vanguard Group Inc. increased its holdings in Republic Bancorp by 11.7% during the 1st 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 period. Geode Capital Management LLC increased its stake in shares of Republic Bancorp by 9.0% during the second quarter. Geode Capital Management LLC now owns 234,101 shares of the bank's stock valued at $17,118,000 after buying an additional 19,271 shares during the period. American Century Companies Inc. raised its holdings in shares of 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 acquiring an additional 23,886 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Republic Bancorp by 2.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 114,292 shares of the bank's stock worth $7,986,000 after acquiring an additional 3,105 shares during the period. Finally, Northern Trust Corp boosted its holdings in Republic Bancorp by 4.3% in the fourth quarter. Northern Trust Corp now owns 85,367 shares of the bank's stock valued at $5,965,000 after acquiring an additional 3,512 shares in the last quarter. Hedge funds and other institutional investors 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.