John T. Rippy Sells 3,082 Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) Stock

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) EVP John T. Rippy sold 3,082 shares of Republic Bancorp stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 23,105 shares in the company, valued at approximately $1,524,698.95. This trade represents a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Republic Bancorp Price Performance

Shares of RBCAA traded up $2.33 on Tuesday, reaching $66.42. The stock had a trading volume of 23,980 shares, compared to its average volume of 23,831. The firm has a 50-day moving average of $70.87 and a 200 day moving average of $67.51. The firm has a market capitalization of $1.29 billion, a PE ratio of 12.70 and a beta of 0.54. Republic Bancorp, Inc. has a twelve month low of $46.55 and a twelve month 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.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its earnings results 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. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.80 dividend on an annualized basis and a yield of 2.72%. This is a boost from Republic Bancorp's previous quarterly dividend of $0.41. Republic Bancorp's payout ratio is presently 31.17%.

Analysts Set New Price Targets

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

Institutional Trading of Republic Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted its position in shares of Republic Bancorp by 5.5% in the second quarter. Renaissance Technologies LLC now owns 40,200 shares of the bank's stock valued at $2,155,000 after acquiring an additional 2,100 shares in the last quarter. SG Americas Securities LLC purchased a new position in Republic Bancorp in the 3rd quarter valued at about $205,000. Creative Planning purchased a new position in Republic Bancorp in the 3rd quarter valued at about $261,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Republic Bancorp during the 3rd quarter worth about $208,000. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Republic Bancorp by 50.1% during the third quarter. Los Angeles Capital Management LLC now owns 31,822 shares of the bank's stock worth $2,078,000 after buying an additional 10,617 shares in the last quarter. Hedge funds and other institutional investors own 24.37% of the company's stock.

About Republic Bancorp

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.