Republic Bancorp (NASDAQ:RBCAA) Shares Gap Up - Here's Why

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $63.12, but opened at $65.19. Republic Bancorp shares last traded at $65.30, with a volume of 1,160 shares.

Republic Bancorp Price Performance

The stock has a market cap of $1.27 billion, a PE ratio of 13.15 and a beta of 0.52. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.09. The stock's 50-day moving average is $62.12 and its two-hundred day moving average is $56.24.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its 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 firm had revenue of $116.05 million during the quarter. Republic Bancorp had a net margin of 20.41% and a return on equity of 10.50%.

Republic Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 20th will be paid a dividend of $0.407 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.63 annualized dividend and a yield of 2.48%. Republic Bancorp's payout ratio is 32.67%.

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, CFO Kevin D. Sipes sold 10,074 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $65.07, for a total value of $655,515.18. Following the sale, the chief financial officer now directly owns 70,086 shares of the company's stock, valued at approximately $4,560,496.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Kevin D. Sipes sold 10,074 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $65.07, for a total value of $655,515.18. Following the transaction, the chief financial officer now owns 70,086 shares in the company, valued at approximately $4,560,496.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christy Ames sold 1,715 shares of the business's stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,078 shares of company stock valued at $1,170,715. 55.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Republic Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its stake in Republic Bancorp by 26.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,172 shares of the bank's stock worth $672,000 after purchasing an additional 2,742 shares during the period. Inspire Advisors LLC acquired a new stake in shares of Republic Bancorp during the second quarter worth about $1,546,000. Vanguard Group Inc. grew its holdings in shares of Republic Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 500,726 shares of the bank's stock worth $25,537,000 after buying an additional 2,043 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Republic Bancorp by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,405 shares of the bank's stock valued at $378,000 after acquiring an additional 624 shares during the period. Finally, American Century Companies Inc. raised its stake in Republic Bancorp by 17.0% during the 2nd quarter. American Century Companies Inc. now owns 146,090 shares of the bank's stock valued at $7,832,000 after acquiring an additional 21,261 shares during the last quarter. 24.37% of the stock is owned by hedge funds and other institutional investors.

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.