Republic Bancorp (NASDAQ:RBCAA) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) passed 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.

Analysts Set New Price Targets

Several brokerages have issued reports on RBCAA. Hovde Group increased their price objective on shares of 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 assumed coverage on shares of Republic Bancorp in a report on Friday, June 27th. They set a "market perform" rating for the company.

Republic Bancorp Stock Performance

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 stock has a 50-day moving average price of $71.78 and a 200-day moving average price of $68.40. The firm has a market capitalization of $1.34 billion, a PE ratio of 10.76 and a beta of 0.56.

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

Republic Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 19th will be issued a $0.451 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.80 annualized dividend and a yield of 2.6%. Republic Bancorp's dividend payout ratio is currently 28.21%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Republic Bancorp

A number of hedge funds have recently bought and sold shares of RBCAA. Vanguard Group Inc. raised its stake 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 buying an additional 60,300 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Republic Bancorp by 12.8% in the 1st 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 during the last quarter. Bridgeway Capital Management LLC raised its position in shares of Republic Bancorp by 2.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 114,292 shares of the bank's stock valued at $7,986,000 after acquiring an additional 3,105 shares in the last quarter. Northern Trust Corp raised its position in shares of Republic Bancorp by 4.3% during the 4th 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. Finally, Cary Street Partners Financial LLC bought a new position in Republic Bancorp during the fourth quarter worth $2,931,000. 24.37% of the stock is currently owned by institutional investors and hedge funds.

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.

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