Hovde Group cut shares of Republic Bancorp (NASDAQ:RBCAA - Free Report) from an outperform rating to a market perform rating in a research note published on Wednesday, Marketbeat.com reports. They currently have $80.00 price target on the bank's stock, up from their prior price target of $78.00.
Republic Bancorp Trading Down 2.2 %
RBCAA traded down $1.69 during trading on Wednesday, hitting $76.43. The company's stock had a trading volume of 19,285 shares, compared to its average volume of 17,649. Republic Bancorp has a twelve month low of $46.00 and a twelve month high of $79.75. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock's fifty day moving average price is $66.34 and its 200-day moving average price is $59.61. The firm has a market capitalization of $1.49 billion, a P/E ratio of 14.89 and a beta of 0.51.
Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The bank reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. Republic Bancorp had a return on equity of 10.79% and a net margin of 20.65%. The firm had revenue of $118.36 million for the quarter.
Insider Activity
In other Republic Bancorp news, 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 transaction of $109,279.80. Following the completion of the transaction, the executive vice president now owns 4,240 shares in the company, valued at approximately $270,172.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Republic Bancorp news, 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 completion of the sale, the executive vice president now owns 4,240 shares of the company's stock, valued at approximately $270,172.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Juan Montano sold 2,750 shares of Republic Bancorp stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $63.37, for a total value of $174,267.50. Following the completion of the sale, the executive vice president now directly owns 8,558 shares of the company's stock, valued at approximately $542,320.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,715 shares of company stock worth $299,172 in the last quarter. 55.50% of the stock is owned by company insiders.
Institutional Trading of Republic Bancorp
Hedge funds have recently bought and sold shares of the stock. Inspire Advisors LLC bought a new stake in Republic Bancorp during the second quarter valued at about $1,546,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Republic Bancorp by 26.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,172 shares of the bank's stock valued at $672,000 after buying an additional 2,742 shares in the last quarter. Vanguard Group Inc. raised its position in Republic Bancorp by 0.4% during the 1st 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. American Century Companies Inc. grew its stake in Republic Bancorp by 17.0% in 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 period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Republic Bancorp by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,405 shares of the bank's stock worth $378,000 after acquiring an additional 624 shares during the period. Institutional investors own 24.37% of the company's stock.
About Republic Bancorp
(
Get Free Report)
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.
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