Hovde Group Raises Republic Bancorp (NASDAQ:RBCAA) Price Target to $69.00

Republic Bancorp (NASDAQ:RBCAA - Free Report) had its target price raised by Hovde Group from $64.00 to $69.00 in a research report released on Friday morning, MarketBeat Ratings reports. The firm currently has a market perform rating on the bank's stock.

Republic Bancorp Stock Down 0.9 %

Republic Bancorp stock traded down $0.62 during mid-day trading on Friday, reaching $67.01. The stock had a trading volume of 28,686 shares, compared to its average volume of 20,949. 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 $48.67 and a fifty-two week high of $80.68. The stock's 50-day simple moving average is $64.49 and its 200-day simple moving average is $68.46. The firm has a market capitalization of $1.31 billion, a PE ratio of 12.81 and a beta of 0.46.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $2.42 EPS for the quarter, beating analysts' consensus estimates of $1.86 by $0.56. The business had revenue of $135.84 million during the quarter, compared to analyst estimates of $126.90 million. Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Insider Activity at Republic Bancorp

In other news, EVP John T. Rippy sold 3,082 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was 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 directly owns 23,105 shares of the company's stock, valued at $1,524,698.95. This trade represents a 11.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David P. Feaster sold 1,406 shares of the 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 transaction, the director now owns 4,303 shares of the company's stock, 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. 56.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Republic Bancorp by 4.0% in 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. Geode Capital Management LLC lifted its holdings in shares of Republic Bancorp by 4.5% in the third quarter. Geode Capital Management LLC now owns 219,628 shares of the bank's stock worth $14,345,000 after buying an additional 9,430 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Republic Bancorp by 14.0% in the fourth quarter. American Century Companies Inc. now owns 186,117 shares of the bank's stock worth $13,004,000 after buying an additional 22,818 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Republic Bancorp by 2.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 114,292 shares of the bank's stock valued at $7,986,000 after acquiring an additional 3,105 shares during the period. Finally, Northern Trust Corp grew its stake in Republic Bancorp by 4.3% during the fourth quarter. Northern Trust Corp now owns 85,367 shares of the bank's stock valued at $5,965,000 after acquiring an additional 3,512 shares in the last quarter. Hedge funds and other institutional investors own 24.37% of the company's stock.

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.