Republic Bancorp, Inc. KY (NASDAQ:RBCAA) Lowered to Sell at BidaskClub

BidaskClub cut shares of Republic Bancorp, Inc. KY (NASDAQ:RBCAA) from a hold rating to a sell rating in a research note issued to investors on Friday, December 29th.

RBCAA has been the subject of several other research reports. Zacks Investment Research lowered Republic Bancorp, Inc. KY from a buy rating to a hold rating in a research report on Wednesday, October 11th. Hovde Group lowered Republic Bancorp, Inc. KY from an outperform rating to a market perform rating and boosted their target price for the company from $39.00 to $41.00 in a research report on Wednesday, October 4th. Finally, ValuEngine lowered Republic Bancorp, Inc. KY from a buy rating to a hold rating in a report on Saturday, November 25th.

Republic Bancorp, Inc. KY (NASDAQ:RBCAA) opened at $39.91 on Friday. Republic Bancorp, Inc. KY has a 52-week low of $31.97 and a 52-week high of $44.04. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market capitalization of $828.52, a PE ratio of 16.42 and a beta of 0.53.

Republic Bancorp, Inc. KY (NASDAQ:RBCAA) last issued its earnings results on Friday, October 20th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. Republic Bancorp, Inc. KY had a return on equity of 8.18% and a net margin of 19.02%. The firm had revenue of $58.68 million for the quarter. sell-side analysts predict that Republic Bancorp, Inc. KY will post 2.44 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a yield of 2.20%. Republic Bancorp, Inc. KY’s dividend payout ratio is currently 36.21%.

In other news, EVP Steven E. Deweese sold 7,000 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $41.00, for a total transaction of $287,000.00. Following the transaction, the executive vice president now directly owns 34,115 shares of the company’s stock, valued at $1,398,715. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 7,307 shares of company stock worth $299,873. Insiders own 52.30% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Republic Bancorp, Inc. KY in the 2nd quarter valued at $165,000. The Manufacturers Life Insurance Company grew its position in Republic Bancorp, Inc. KY by 6.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,936 shares of the bank’s stock worth $283,000 after purchasing an additional 449 shares during the period. Wells Fargo & Company MN grew its position in Republic Bancorp, Inc. KY by 24.3% during the 2nd quarter. Wells Fargo & Company MN now owns 9,785 shares of the bank’s stock worth $350,000 after purchasing an additional 1,911 shares during the period. New York State Common Retirement Fund grew its position in Republic Bancorp, Inc. KY by 24.2% during the 2nd quarter. New York State Common Retirement Fund now owns 11,300 shares of the bank’s stock worth $403,000 after purchasing an additional 2,199 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in Republic Bancorp, Inc. KY during the 3rd quarter worth about $510,000. 24.42% of the stock is currently owned by hedge funds and other institutional investors.

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About Republic Bancorp, Inc. KY

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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