Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,373 shares of the bank's stock, valued at approximately $375,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Republic Bancorp by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 219,628 shares of the bank's stock valued at $14,345,000 after purchasing an additional 9,430 shares during the period. State Street Corp increased its stake in Republic Bancorp by 2.2% in the 3rd quarter. State Street Corp now owns 210,298 shares of the bank's stock valued at $13,816,000 after buying an additional 4,429 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Republic Bancorp by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 100,794 shares of the bank's stock worth $6,582,000 after buying an additional 2,098 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Republic Bancorp by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 72,883 shares of the bank's stock worth $5,092,000 after buying an additional 1,932 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Republic Bancorp by 5.0% during the 4th quarter. Empowered Funds LLC now owns 64,930 shares of the bank's stock valued at $4,537,000 after buying an additional 3,105 shares during the period. Institutional investors and hedge funds own 24.37% of the company's stock.

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Republic Bancorp Stock Up 1.6 %

Shares of RBCAA traded up $1.05 during midday trading on Thursday, reaching $66.15. 23,320 shares of the stock were exchanged, compared to its average volume of 18,246. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 12.65 and a beta of 0.46. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. Republic Bancorp, Inc. has a 12-month low of $46.81 and a 12-month high of $80.68. The firm has a 50 day simple moving average of $66.30 and a 200-day simple moving average of $68.56.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The bank reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Republic Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be given a dividend of $0.451 per share. This represents a $1.80 annualized dividend and a yield of 2.73%. This is an increase from Republic Bancorp's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, March 21st. Republic Bancorp's dividend payout ratio is presently 34.42%.

Wall Street Analyst Weigh In

Separately, Hovde Group cut their price objective on Republic Bancorp from $72.00 to $70.00 and set a "market perform" rating for the company in a report on Monday, January 27th.

Insider Buying and Selling at Republic Bancorp

In related news, EVP John T. Rippy sold 3,082 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $65.99, for a total value of $203,381.18. Following the transaction, the executive vice president now directly owns 23,105 shares in the company, valued at approximately $1,524,698.95. This trade represents a 11.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David P. Feaster sold 1,406 shares of the business's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total transaction of $93,386.52. Following the transaction, the director now directly 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 disclosure for this sale can be found here. Corporate insiders own 55.50% of the company's stock.

Republic Bancorp 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.