Republic Bancorp (NASDAQ:RBCAA) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Republic Bancorp shares rose above their 200-day moving average, reaching $98.15 and last trading at $96.76 versus the $80.12 long-term average.
• Analysts maintain a consensus “Hold” rating with a $98 price target, while the company recently exceeded quarterly expectations, reporting $1.68 EPS and $101.27 million in revenue.
• The bank declared a quarterly dividend of $0.495 per share, equivalent to an annualized $1.98 payout and a 2.0% yield.

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 $80.12 and traded as high as $98.15. Republic Bancorp shares last traded at $96.76, with a volume of 77,121 shares.

Wall Street Analyst Weigh In

RBCAA has been the topic of a number of analyst reports. Hovde Group lifted their price objective on shares of Republic Bancorp from $80.00 to $98.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Zacks Research upgraded shares of Republic Bancorp to a "hold" rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Republic Bancorp in a report on Tuesday, June 9th. Finally, Wall Street Zen raised shares of Republic Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $98.00.

Republic Bancorp Price Performance

The business has a fifty day moving average of $92.02 and a 200 day moving average of $80.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market cap of $1.90 billion, a PE ratio of 14.77 and a beta of 0.55.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.13. Republic Bancorp had a return on equity of 11.20% and a net margin of 25.38%.The company had revenue of $101.27 million for the quarter, compared to the consensus estimate of $97.60 million. Sell-side analysts anticipate that Republic Bancorp, Inc. will post 6.65 earnings per share for the current year.

Republic Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 18th will be given a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.0%. Republic Bancorp's dividend payout ratio (DPR) is presently 30.23%.

Insiders Place Their Bets

In related news, EVP Anthony T. Powell sold 3,000 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 24,691 shares of the company's stock, valued at $2,062,686.14. This represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christy Ames sold 340 shares of the company's stock in a transaction 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 in the company, valued at $540,145.50. This represents a 5.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 55.90% of the stock is currently owned by insiders.

Institutional Trading of Republic Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vestor Capital LLC increased its holdings in shares of Republic Bancorp by 164.4% in the 1st quarter. Vestor Capital LLC now owns 5,594 shares of the bank's stock valued at $395,000 after acquiring an additional 3,478 shares during the last quarter. Bank of America Corp DE raised its holdings in Republic Bancorp by 29.9% during the first quarter. Bank of America Corp DE now owns 16,035 shares of the bank's stock worth $1,131,000 after purchasing an additional 3,687 shares in the last quarter. Royal Bank of Canada lifted its position in Republic Bancorp by 46.2% in the first quarter. Royal Bank of Canada now owns 3,401 shares of the bank's stock worth $239,000 after purchasing an additional 1,074 shares during the period. Empowered Funds LLC boosted its stake in Republic Bancorp by 6.1% during the 1st quarter. Empowered Funds LLC now owns 78,246 shares of the bank's stock valued at $5,520,000 after purchasing an additional 4,511 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Republic Bancorp by 44.3% during the 1st quarter. Quantinno Capital Management LP now owns 13,579 shares of the bank's stock valued at $958,000 after purchasing an additional 4,167 shares in the last quarter. Institutional investors and hedge funds own 24.37% of the company's stock.

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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