Republic Bancorp (NASDAQ:RBCAA) Price Target Increased to $78.00 by Analysts at Hovde Group

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) had its price target raised by research analysts at Hovde Group from $68.00 to $78.00 in a note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has an "outperform" rating on the bank's stock. Hovde Group's price objective points to a potential upside of 12.88% from the stock's previous close.

Republic Bancorp Stock Performance

Shares of NASDAQ RBCAA traded up $1.35 during midday trading on Friday, reaching $69.10. 26,268 shares of the company were exchanged, compared to its average volume of 17,450. The stock has a market cap of $1.87 billion, a P/E ratio of 14.52 and a beta of 0.52. Republic Bancorp has a 1 year low of $42.51 and a 1 year high of $70.00. The stock has a fifty day simple moving average of $62.90 and a 200 day simple moving average of $56.80. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last issued its quarterly earnings results on Friday, July 19th. The bank reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). The company had revenue of $116.05 million for the quarter. Republic Bancorp had a return on equity of 10.50% and a net margin of 20.41%.

Insider Buying and Selling at Republic Bancorp

In related news, EVP Christy Ames sold 1,715 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $63.72, for a total transaction of $109,279.80. Following the sale, the executive vice president now owns 4,240 shares of the company's stock, valued at approximately $270,172.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director David P. Feaster sold 789 shares of the firm's stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $65.91, for a total value of $52,002.99. Following the completion of the transaction, the director now owns 5,487 shares in the company, valued at $361,648.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Christy Ames sold 1,715 shares of Republic Bancorp stock in a transaction on Friday, August 30th. The stock was sold at an average price of $63.72, for a total value of $109,279.80. Following the transaction, the executive vice president now directly owns 4,240 shares of the company's stock, valued at $270,172.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,078 shares of company stock valued at $1,170,715. 55.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Republic Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Inspire Advisors LLC purchased a new position in Republic Bancorp in the 2nd quarter valued at about $1,546,000. American Century Companies Inc. lifted its stake in shares of Republic Bancorp by 17.0% during the second quarter. American Century Companies Inc. now owns 146,090 shares of the bank's stock valued at $7,832,000 after buying an additional 21,261 shares during the period. Los Angeles Capital Management LLC boosted its position in Republic Bancorp by 113.9% during the second quarter. Los Angeles Capital Management LLC now owns 21,205 shares of the bank's stock worth $1,137,000 after acquiring an additional 11,290 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Republic Bancorp by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 952,102 shares of the bank's stock worth $51,040,000 after acquiring an additional 8,382 shares during the period. Finally, CM Management LLC grew its stake in Republic Bancorp by 16.7% in the 2nd quarter. CM Management LLC now owns 35,000 shares of the bank's stock worth $1,876,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other institutional investors own 24.37% of the company's stock.

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.