Pillar Financial Advisors LLC Buys New Shares in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Pillar Financial Advisors LLC bought a new position in Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,094 shares of the bank's stock, valued at approximately $286,000.

A number of other hedge funds also recently bought and sold shares of RBCAA. Meridian Wealth Management LLC increased its position in Republic Bancorp by 3.3% during the 4th quarter. Meridian Wealth Management LLC now owns 6,184 shares of the bank's stock valued at $432,000 after purchasing an additional 200 shares during the period. Bank of New York Mellon Corp lifted its position in Republic Bancorp by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 72,883 shares of the bank's stock valued at $5,092,000 after buying an additional 1,932 shares during the period. Allworth Financial LP boosted its holdings in shares of Republic Bancorp by 3,326.8% during the 4th quarter. Allworth Financial LP now owns 11,137 shares of the bank's stock valued at $756,000 after buying an additional 10,812 shares in the last quarter. Rhumbline Advisers grew its position in shares of Republic Bancorp by 4.1% in the 4th quarter. Rhumbline Advisers now owns 14,238 shares of the bank's stock worth $995,000 after buying an additional 567 shares during the period. Finally, New York State Teachers Retirement System lifted its position in Republic Bancorp by 659.0% during the 4th quarter. New York State Teachers Retirement System now owns 759 shares of the bank's stock valued at $53,000 after acquiring an additional 659 shares during the period. Hedge funds and other institutional investors own 24.37% of the company's stock.

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Insider Activity

In other news, EVP John T. Rippy sold 3,082 shares of the company's stock in a transaction dated 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 owns 23,105 shares of the company's stock, valued at $1,524,698.95. This represents a 11.77 % decrease in their position. 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 firm's stock in a transaction that occurred on Wednesday, January 29th. The stock was 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 directly owns 4,303 shares in the company, valued at approximately $285,805.26. The trade was a 24.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 55.50% of the company's stock.

Analyst Ratings Changes

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

Republic Bancorp Stock Down 0.1 %

Shares of NASDAQ:RBCAA traded down $0.07 on Wednesday, hitting $64.15. 35,176 shares of the company traded hands, compared to its average volume of 17,818. The company has a market cap of $1.25 billion, a PE ratio of 12.27 and a beta of 0.46. The stock has a 50 day simple moving average of $66.87 and a 200-day simple moving average of $68.48. Republic Bancorp, Inc. has a 52 week low of $46.55 and a 52 week 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 quarterly 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 firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be paid a $0.451 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.80 annualized dividend and a dividend yield of 2.81%. This is a boost from Republic Bancorp's previous quarterly dividend of $0.41. 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.