Republic Bancorp (NASDAQ:RBCAA) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Republic Bancorp's stock price crossed above its 200-day moving average, reaching a high of $72.68 before closing at $72.28.
• The company announced a quarterly dividend of $0.451 per share, translating to an annualized figure of $1.80 and a dividend yield of 2.5%.
• Analysts have a consensus rating of "Hold" on the stock, with an average target price of $69.00, though there is one "Buy" rating and two "Hold" ratings among recent assessments.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $70.78 and traded as high as $72.68. Republic Bancorp shares last traded at $72.28, with a volume of 21,520 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on RBCAA shares. Raymond James Financial began coverage on Republic Bancorp in a report on Friday, June 27th. They set a "market perform" rating for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Republic Bancorp in a research note on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $69.00.

Republic Bancorp Stock Performance

The firm's 50 day moving average price is $73.40 and its 200-day moving average price is $70.78. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 1.07. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 11.33 and a beta of 0.53.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its earnings results on Friday, July 18th. The bank reported $1.61 earnings per share for the quarter, beating the consensus estimate 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 12.23%.

Republic Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 19th will be paid a $0.451 dividend. The ex-dividend date is Friday, September 19th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. Republic Bancorp's dividend payout ratio is currently 28.21%.

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, EVP Christy Ames sold 400 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $75.79, for a total transaction of $30,316.00. Following the completion of the transaction, the executive vice president owned 4,738 shares in the company, valued at $359,093.02. This trade represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Juan Montano sold 1,223 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $92,373.19. Following the completion of the sale, the executive vice president directly owned 4,434 shares in the company, valued at approximately $334,900.02. This represents a 21.62% decrease in their position. The disclosure for this sale can be found here. 56.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Republic Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC lifted its position in Republic Bancorp by 68.0% during the 2nd quarter. CWM LLC now owns 608 shares of the bank's stock worth $44,000 after buying an additional 246 shares in the last quarter. US Bancorp DE boosted its position in shares of Republic Bancorp by 294.7% in the 1st quarter. US Bancorp DE now owns 750 shares of the bank's stock worth $48,000 after purchasing an additional 560 shares during the last quarter. State of Wyoming grew its position in shares of Republic Bancorp by 34.1% during the 1st quarter. State of Wyoming now owns 967 shares of the bank's stock worth $62,000 after buying an additional 246 shares during the period. Raymond James Financial Inc. acquired a new position in Republic Bancorp during the second quarter valued at approximately $121,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Republic Bancorp by 46.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank's stock valued at $138,000 after buying an additional 598 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.