Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw an uptick in trading volume on Wednesday . 38,825 shares changed hands during mid-day trading, an increase of 88% from the previous session's volume of 20,597 shares.The stock last traded at $62.56 and had previously closed at $60.53.
Wall Street Analyst Weigh In
Separately, Hovde Group cut their target price on shares of Republic Bancorp from $72.00 to $70.00 and set a "market perform" rating for the company in a research note on Monday, January 27th.
View Our Latest Analysis on Republic Bancorp
Republic Bancorp Trading Down 0.5 %
The company has a market cap of $1.24 billion, a PE ratio of 12.19 and a beta of 0.46. The stock's 50 day moving average is $64.54 and its 200-day moving average is $68.35. 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 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 was paid on Friday, April 18th. Shareholders of record on Friday, March 21st were issued a dividend of $0.451 per share. This is an increase from Republic Bancorp's previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Friday, March 21st. Republic Bancorp's dividend payout ratio (DPR) is presently 34.42%.
Insider Activity
In other news, EVP John T. Rippy sold 3,082 shares of Republic Bancorp stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $65.99, for a total value of $203,381.18. Following the sale, the executive vice president now 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 sale 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 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 completion of the sale, the director now directly owns 4,303 shares of the company's stock, valued at $285,805.26. This trade represents 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.
Institutional Investors Weigh In On Republic Bancorp
Several institutional investors and hedge funds have recently modified their holdings of RBCAA. GAMMA Investing LLC grew its position in Republic Bancorp by 15,400.0% during the 1st quarter. GAMMA Investing LLC now owns 5,425 shares of the bank's stock worth $346,000 after purchasing an additional 5,390 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Republic Bancorp in the 4th quarter valued at about $322,000. Public Employees Retirement System of Ohio purchased a new stake in Republic Bancorp during the 4th quarter valued at approximately $70,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Republic Bancorp by 11.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,484 shares of the bank's stock worth $872,000 after acquiring an additional 1,309 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Republic Bancorp by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the bank's stock valued at $329,000 after purchasing an additional 164 shares during the period. Hedge funds and other 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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