Republic Bancorp, Inc. (NASDAQ:RBCAA) Short Interest Update

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 69,200 shares, an increase of 34.4% from the March 15th total of 51,500 shares. Based on an average daily volume of 27,700 shares, the days-to-cover ratio is presently 2.5 days. Approximately 0.9% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Hovde Group lowered their price target on shares of 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 Price Performance

Shares of NASDAQ RBCAA traded down $0.32 during midday trading on Monday, reaching $63.77. The company's stock had a trading volume of 33,309 shares, compared to its average volume of 20,849. The business's 50 day moving average price is $64.50 and its two-hundred day moving average price is $68.35. The company has a market cap of $1.24 billion, a P/E ratio of 12.19 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 has a fifty-two week low of $48.10 and a fifty-two week high of $80.68.

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

Republic Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, March 21st were given a $0.451 dividend. The ex-dividend date of this dividend was Friday, March 21st. This is a boost from Republic Bancorp's previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a dividend yield of 2.83%. Republic Bancorp's payout ratio is presently 34.42%.

Insiders Place Their Bets

In other Republic Bancorp news, Director David P. Feaster sold 1,406 shares of the company's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total value of $93,386.52. Following the transaction, the director now directly owns 4,303 shares of the company's stock, valued at $285,805.26. This represents a 24.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John T. Rippy sold 3,082 shares of the stock in a transaction 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 transaction, the executive vice president now owns 23,105 shares in the company, valued at $1,524,698.95. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 56.40% of the company's stock.

Institutional Trading of Republic Bancorp

Large investors have recently made changes to their positions in the company. State Street Corp grew its position in Republic Bancorp by 2.2% in the third quarter. State Street Corp now owns 210,298 shares of the bank's stock valued at $13,816,000 after acquiring an additional 4,429 shares during the last quarter. Barclays PLC grew its holdings in shares of Republic Bancorp by 338.3% during the 3rd quarter. Barclays PLC now owns 12,736 shares of the bank's stock valued at $831,000 after purchasing an additional 9,830 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Republic Bancorp by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 219,628 shares of the bank's stock valued at $14,345,000 after purchasing an additional 9,430 shares during the last quarter. JPMorgan Chase & Co. increased its position in Republic Bancorp by 10.0% during the 3rd 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 in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Republic Bancorp by 22.8% in the 4th quarter. SG Americas Securities LLC now owns 3,851 shares of the bank's stock valued at $269,000 after purchasing an additional 714 shares during the last quarter. Institutional investors and hedge funds 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.