Norges Bank Acquires New Holdings in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Norges Bank acquired a new stake in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 25,802 shares of the bank's stock, valued at approximately $1,803,000. Norges Bank owned approximately 0.13% of Republic Bancorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RBCAA. American Century Companies Inc. lifted its holdings in shares of Republic Bancorp by 14.0% during the 4th quarter. American Century Companies Inc. now owns 186,117 shares of the bank's stock valued at $13,004,000 after acquiring an additional 22,818 shares in the last quarter. JPMorgan Chase & Co. grew its position in Republic Bancorp by 119.8% in the 4th quarter. JPMorgan Chase & Co. now owns 36,567 shares of the bank's stock worth $2,555,000 after purchasing an additional 19,932 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Republic Bancorp by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 514,866 shares of the bank's stock valued at $35,974,000 after purchasing an additional 19,756 shares in the last quarter. Allworth Financial LP raised its holdings in Republic Bancorp by 3,326.8% during the fourth quarter. Allworth Financial LP now owns 11,137 shares of the bank's stock worth $756,000 after purchasing an additional 10,812 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Republic Bancorp by 338.3% in the 3rd quarter. Barclays PLC now owns 12,736 shares of the bank's stock valued at $831,000 after acquiring an additional 9,830 shares during the last quarter. Institutional investors and hedge funds own 24.37% of the company's stock.

Insider Buying and Selling at Republic Bancorp

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

Wall Street Analysts Forecast Growth

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

Republic Bancorp Stock Performance

Shares of RBCAA traded up $1.51 during mid-day trading on Thursday, hitting $64.06. The company's stock had a trading volume of 5,710 shares, compared to its average volume of 26,943. The firm has a market capitalization of $1.25 billion, a PE ratio of 12.25 and a beta of 0.46. Republic Bancorp, Inc. has a one year low of $46.83 and a one year high of $80.68. The stock's 50-day moving average is $64.67 and its two-hundred day moving average is $68.25. 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 (NASDAQ:RBCAA - Get Free Report) last released its quarterly earnings data on Friday, January 24th. The bank reported $0.98 earnings per share 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.451 per share. This is a boost from Republic Bancorp's previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, March 21st. Republic Bancorp's payout ratio is currently 34.42%.

Republic Bancorp 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.