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Hovde Group Lowers Republic Bancorp (NASDAQ:RBCAA) Price Target to $70.00

Republic Bancorp logo with Finance background

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) had its target price dropped by investment analysts at Hovde Group from $72.00 to $70.00 in a research note issued to investors on Monday, MarketBeat reports. The brokerage presently has a "market perform" rating on the bank's stock. Hovde Group's price target points to a potential upside of 4.90% from the stock's previous close.

Republic Bancorp Stock Performance

Shares of Republic Bancorp stock traded down $0.26 during trading on Monday, reaching $66.73. The company's stock had a trading volume of 33,359 shares, compared to its average volume of 21,643. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12. The business's fifty day moving average price is $72.10 and its 200-day moving average price is $67.25. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 12.69 and a beta of 0.56. Republic Bancorp has a one year low of $46.55 and a one year high of $80.68.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%.

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, Director Heather V. Howell sold 1,496 shares of the company's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $75.63, for a total transaction of $113,142.48. Following the transaction, the director now owns 7,491 shares of the company's stock, valued at approximately $566,544.33. This represents a 16.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 55.50% of the stock is owned by company insiders.

Institutional Trading of Republic Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in shares of Republic Bancorp in the 3rd quarter valued at $205,000. SeaCrest Wealth Management LLC bought a new position in Republic Bancorp during the 3rd quarter worth about $208,000. The Manufacturers Life Insurance Company bought a new position in Republic Bancorp during the 3rd quarter worth about $224,000. Hohimer Wealth Management LLC bought a new position in Republic Bancorp during the 3rd quarter worth about $227,000. Finally, Creative Planning bought a new position in Republic Bancorp during the 3rd quarter worth about $261,000. Institutional investors own 24.37% of the company's stock.

About Republic Bancorp

(Get 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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