Republic Bancorp (NASDAQ:RBCAA) Trading Up 4% on Better-Than-Expected Earnings

Key Points

• Republic Bancorp's shares rose by 4% after reporting quarterly earnings of $1.52 per share, exceeding analysts' expectations of $1.38.
• Several analysts have issued new ratings for Republic Bancorp, with one providing a Buy rating and two showing a Hold rating, as it currently holds a consensus price target of $69.00.
• Insider selling occurred recently, where key executives sold significant shares, indicating a 7.79% decrease in one executive's position and a 21.62% decrease in another's.

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) shares shot up 4% during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $71.87 and last traded at $71.15. 9,395 shares traded hands during trading, a decline of 73% from the average session volume of 34,839 shares. The stock had previously closed at $68.42.

The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.14. Republic Bancorp had a net margin of 23.98% and a return on equity of 12.23%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Weiss Ratings restated a "buy (b)" rating on shares of Republic Bancorp in a research note on Wednesday, October 8th. Raymond James Financial began coverage on Republic Bancorp in a report on Friday, June 27th. They issued a "market perform" rating on the stock. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Republic Bancorp currently has a consensus rating of "Hold" and a consensus price target of $69.00.

Insiders Place Their Bets

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

Institutional Trading of Republic Bancorp

Hedge funds have recently bought and sold shares of the business. CWM LLC grew its stake in Republic Bancorp by 68.0% in the 2nd quarter. CWM LLC now owns 608 shares of the bank's stock valued at $44,000 after purchasing an additional 246 shares during the period. US Bancorp DE boosted its holdings 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 buying an additional 560 shares during the last quarter. State of Wyoming grew its position in Republic Bancorp by 34.1% during the first quarter. State of Wyoming now owns 967 shares of the bank's stock valued at $62,000 after buying an additional 246 shares during the period. Raymond James Financial Inc. purchased a new stake in Republic Bancorp during the second quarter worth about $121,000. Finally, Bessemer Group Inc. purchased a new stake in Republic Bancorp during the first quarter worth about $128,000. 24.37% of the stock is currently owned by institutional investors.

Republic Bancorp Trading Up 5.0%

The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The firm's 50-day simple moving average is $73.63 and its 200 day simple moving average is $71.00. The firm has a market cap of $1.40 billion, a P/E ratio of 11.22 and a beta of 0.53.

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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