BNP Paribas Financial Markets Cuts Stake in Republic Bancorp, Inc. (NASDAQ:RBCAA)

BNP Paribas Financial Markets trimmed its stake in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) by 69.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,974 shares of the bank's stock after selling 6,774 shares during the period. BNP Paribas Financial Markets' holdings in Republic Bancorp were worth $194,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RBCAA. Innealta Capital LLC bought a new position in Republic Bancorp during the 2nd quarter valued at about $67,000. Acadian Asset Management LLC purchased a new stake in shares of Republic Bancorp in the second quarter worth approximately $87,000. Independence Bank of Kentucky lifted its stake in shares of Republic Bancorp by 4,133.3% during the 2nd quarter. Independence Bank of Kentucky now owns 3,175 shares of the bank's stock worth $170,000 after acquiring an additional 3,100 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Republic Bancorp during the 3rd quarter worth approximately $205,000. Finally, SeaCrest Wealth Management LLC purchased a new position in Republic Bancorp during the 3rd quarter valued at $208,000. Hedge funds and other institutional investors own 24.37% of the company's stock.

Republic Bancorp Stock Performance

Shares of Republic Bancorp stock traded down $4.59 during trading on Wednesday, hitting $70.50. 18,368 shares of the company's stock were exchanged, compared to its average volume of 17,571. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 13.40 and a beta of 0.54. The business has a 50-day simple moving average of $72.65 and a 200-day simple moving average of $63.75. Republic Bancorp, Inc. has a 52-week low of $46.55 and a 52-week high of $80.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its earnings results on Friday, October 18th. The bank reported $1.37 EPS for the quarter, topping the consensus estimate of $1.21 by $0.16. The firm had revenue of $118.36 million for the quarter. Republic Bancorp had a return on equity of 10.79% and a net margin of 20.65%.

Republic Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, December 20th will be given a dividend of $0.407 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Friday, December 20th. Republic Bancorp's dividend payout ratio (DPR) is presently 30.80%.

Wall Street Analyst Weigh In

Separately, Hovde Group downgraded Republic Bancorp from an "outperform" rating to a "market perform" rating and raised their price objective for the stock from $78.00 to $80.00 in a report on Wednesday, November 13th.

Republic Bancorp Company Profile

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.