KLP Kapitalforvaltning AS Acquires Shares of 9,400 Republic Bancorp, Inc. (NASDAQ:RBCAA)

KLP Kapitalforvaltning AS bought a new stake in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,400 shares of the bank's stock, valued at approximately $660,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake 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 worth $14,345,000 after acquiring an additional 9,430 shares during the last quarter. Barclays PLC increased its position in Republic Bancorp by 338.3% during the third quarter. Barclays PLC now owns 12,736 shares of the bank's stock worth $831,000 after purchasing an additional 9,830 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC acquired a new stake in Republic Bancorp during the fourth quarter worth about $280,000. JPMorgan Chase & Co. raised its stake in Republic Bancorp by 10.0% during the third quarter. JPMorgan Chase & Co. now owns 16,635 shares of the bank's stock worth $1,086,000 after purchasing an additional 1,515 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in Republic Bancorp in the 3rd quarter valued at about $224,000. 24.37% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Republic Bancorp

In other Republic Bancorp news, Director David P. Feaster sold 1,406 shares of the business'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 transaction, the director now owns 4,303 shares in the company, valued at $285,805.26. The trade was a 24.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John T. Rippy sold 3,082 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $65.99, for a total transaction of $203,381.18. Following the completion of the sale, the executive vice president now directly owns 23,105 shares in the company, valued at approximately $1,524,698.95. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 56.40% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

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

Republic Bancorp Trading Up 0.7 %

Shares of Republic Bancorp stock traded up $0.41 during trading hours on Friday, hitting $60.91. The company's stock had a trading volume of 51,587 shares, compared to its average volume of 19,687. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 11.65 and a beta of 0.46. 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, Inc. has a twelve month low of $46.81 and a twelve month high of $80.68. The firm has a fifty day moving average of $65.63 and a 200-day moving average of $68.57.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted 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 net margin of 20.05% and a return on equity of 10.60%.

Republic Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, March 21st will be given a dividend of $0.451 per share. The ex-dividend date is Friday, March 21st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from Republic Bancorp's previous quarterly dividend of $0.41. Republic Bancorp's dividend payout ratio (DPR) is presently 34.42%.

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.