Republic Bancorp (NASDAQ:RBCAA) Stock Price Expected to Rise, Hovde Group Analyst Says

Key Points

• Hovde Group raised Republic Bancorp’s price target from $80 to $98 while maintaining a “market perform” rating, implying about 4.67% upside. Analysts overall assign the stock a consensus “Hold” rating with a $98 target.
• Republic Bancorp exceeded quarterly expectations, reporting $1.68 in EPS versus the $1.55 consensus and revenue of $101.27 million compared with estimates of $97.60 million.
• The stock opened at $93.63, near its 52-week high of $94.31, with a $1.84 billion market capitalization; insiders own 55.90% of shares, while institutional investors own 24.37%.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) had its price objective boosted by Hovde Group from $80.00 to $98.00 in a research note issued on Monday. The firm presently has a "market perform" rating on the bank's stock. Hovde Group's price target suggests a potential upside of 4.67% from the stock's current price.

Several other equities analysts have also recently weighed in on RBCAA. Weiss Ratings reissued a "buy (b)" rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. Wall Street Zen raised Republic Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Finally, Zacks Research raised Republic Bancorp to a "hold" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $98.00.

Republic Bancorp Stock Performance

NASDAQ:RBCAA opened at $93.63 on Monday. Republic Bancorp has a 1 year low of $63.97 and a 1 year high of $94.31. The firm's fifty day simple moving average is $86.20 and its 200 day simple moving average is $77.02. 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 firm has a market capitalization of $1.84 billion, a PE ratio of 14.29 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its earnings results on Friday, July 24th. The bank reported $1.68 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.13. The firm had revenue of $101.27 million during the quarter, compared to analyst estimates of $97.60 million. Republic Bancorp had a net margin of 25.38% and a return on equity of 11.32%. On average, sell-side analysts anticipate that Republic Bancorp will post 6.65 EPS for the current year.

Insider Transactions at Republic Bancorp

In related news, EVP Christy Ames sold 340 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $87.90, for a total transaction of $29,886.00. Following the transaction, the executive vice president directly owned 6,145 shares in the company, valued at $540,145.50. The trade was a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Anthony T. Powell sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The shares were 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 directly owned 24,691 shares of the company's stock, valued at approximately $2,062,686.14. This trade represents a 10.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 55.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Republic Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in Republic Bancorp by 52.9% in the third quarter. JPMorgan Chase & Co. now owns 23,236 shares of the bank's stock worth $1,679,000 after purchasing an additional 8,037 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Republic Bancorp in the 1st quarter worth approximately $956,000. Citadel Advisors LLC acquired a new position in shares of Republic Bancorp in the 3rd quarter worth approximately $232,000. BNP Paribas Financial Markets lifted its position in shares of Republic Bancorp by 46.4% during 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 during the period. Finally, Raymond James Financial Inc. bought a new stake in Republic Bancorp in the second quarter valued at $121,000. 24.37% of the stock is owned by institutional investors.

Republic Bancorp Company Profile

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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