Charles Schwab Investment Management Inc. decreased its position in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) by 6.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 93,993 shares of the bank's stock after selling 6,801 shares during the period. Charles Schwab Investment Management Inc. owned about 0.48% of Republic Bancorp worth $6,567,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in RBCAA. New York State Teachers Retirement System lifted its stake in shares of Republic Bancorp by 659.0% during the fourth quarter. New York State Teachers Retirement System now owns 759 shares of the bank's stock valued at $53,000 after buying an additional 659 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Republic Bancorp in the third quarter valued at $224,000. Hohimer Wealth Management LLC acquired a new position in Republic Bancorp in the third quarter valued at $227,000. SG Americas Securities LLC lifted its position in Republic Bancorp by 22.8% during the fourth quarter. SG Americas Securities LLC now owns 3,851 shares of the bank's stock worth $269,000 after buying an additional 714 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC purchased a new stake in Republic Bancorp in the fourth quarter valued at approximately $280,000. Hedge funds and other institutional investors own 24.37% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Hovde Group decreased their price target on shares of Republic Bancorp from $72.00 to $70.00 and set a "market perform" rating on the stock in a report on Monday, January 27th.
Read Our Latest Stock Analysis on RBCAA
Republic Bancorp Stock Performance
Shares of RBCAA stock traded down $1.70 during mid-day trading on Friday, reaching $64.45. The stock had a trading volume of 16,248 shares, compared to its average volume of 19,222. Republic Bancorp, Inc. has a one year low of $46.81 and a one year high of $80.68. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The firm's 50 day simple moving average is $66.27 and its 200 day simple moving average is $68.54. The firm has a market cap of $1.26 billion, a PE ratio of 12.32 and a beta of 0.46.
Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its earnings results on Friday, January 24th. The bank reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.22). Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%.
Republic Bancorp Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be issued a $0.451 dividend. The ex-dividend date is Friday, March 21st. This is an increase from Republic Bancorp's previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.80%. Republic Bancorp's dividend payout ratio (DPR) is 34.42%.
Insider Buying and Selling at Republic Bancorp
In other news, Director David P. Feaster sold 1,406 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total transaction of $93,386.52. Following the completion of the sale, the director now owns 4,303 shares of the company's stock, valued at approximately $285,805.26. This represents a 24.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John T. Rippy sold 3,082 shares of the business's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total value of $203,381.18. Following the sale, the executive vice president now owns 23,105 shares in the company, valued at $1,524,698.95. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 55.50% of the company's stock.
About Republic Bancorp
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Free Report)
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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