Zacks Investment Research upgraded shares of Republic Bancorp (NASDAQ:RBCAA) from a hold rating to a buy rating in a report issued on Friday, November 17th. The firm currently has $43.00 target price on the bank’s stock.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
RBCAA has been the subject of several other research reports. Hovde Group cut shares of Republic Bancorp from an outperform rating to a market perform rating and raised their target price for the stock from $39.00 to $41.00 in a research note on Wednesday, October 4th. BidaskClub cut shares of Republic Bancorp from a sell rating to a strong sell rating in a research note on Tuesday, August 8th.
Shares of Republic Bancorp (NASDAQ:RBCAA) traded down $0.16 during trading hours on Friday, reaching $41.21. 6,699 shares of the company were exchanged, compared to its average volume of 18,969. The firm has a market cap of $867.94, a PE ratio of 17.12 and a beta of 0.53. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.21 and a current ratio of 1.21. Republic Bancorp has a 12-month low of $31.97 and a 12-month high of $44.04.
Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Friday, October 20th. The bank reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The firm had revenue of $58.68 million during the quarter. Republic Bancorp had a net margin of 19.02% and a return on equity of 8.18%. analysts anticipate that Republic Bancorp will post 2.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 14th. Republic Bancorp’s dividend payout ratio (DPR) is presently 36.21%.
In other news, EVP Steven E. Deweese sold 7,000 shares of the firm’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $41.00, for a total value of $287,000.00. Following the completion of the sale, the executive vice president now owns 34,115 shares in the company, valued at approximately $1,398,715. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 52.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Republic Bancorp by 5.4% in the first quarter. Vanguard Group Inc. now owns 390,308 shares of the bank’s stock valued at $13,423,000 after purchasing an additional 19,998 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Republic Bancorp by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 769,928 shares of the bank’s stock valued at $27,487,000 after purchasing an additional 22,745 shares during the period. Bank of America Corp DE lifted its stake in shares of Republic Bancorp by 0.4% in the first quarter. Bank of America Corp DE now owns 93,652 shares of the bank’s stock valued at $3,221,000 after purchasing an additional 414 shares during the period. American International Group Inc. lifted its stake in shares of Republic Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 5,947 shares of the bank’s stock valued at $205,000 after purchasing an additional 392 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Republic Bancorp by 24.1% in the first quarter. Goldman Sachs Group Inc. now owns 25,163 shares of the bank’s stock valued at $865,000 after purchasing an additional 4,892 shares during the period. Hedge funds and other institutional investors own 24.42% of the company’s stock.
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About Republic Bancorp
Republic Bancorp, Inc is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc (the Captive). The Bank is a Kentucky-based, state chartered non-member financial institution. The Captive is an insurance subsidiary of the Company. The Company operates through four segments: Traditional Banking, which provides traditional banking products to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the United States through mortgage warehouse lines of credit; Mortgage Banking, which originates, sells and services long-term, single family, first lien residential real estate loans, and Republic Processing Group (RPG), which facilitates the receipt and payment of federal and state tax refund products.
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