Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase - Here's What Happened

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) shares saw an uptick in trading volume on Thursday . 18,284 shares traded hands during trading, an increase of 1% from the previous session's volume of 18,154 shares.The stock last traded at $65.38 and had previously closed at $64.48.

Analysts Set New Price Targets

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

Republic Bancorp Stock Performance

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 has a fifty day simple moving average of $66.19 and a 200-day simple moving average of $68.65. The company has a market capitalization of $1.24 billion, a P/E ratio of 12.20 and a beta of 0.46.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its quarterly earnings data 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders 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 is a boost from Republic Bancorp's previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a yield of 2.83%. Republic Bancorp's dividend payout ratio (DPR) is presently 34.42%.

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Insider Transactions at Republic Bancorp

In related news, Director David P. Feaster sold 1,406 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total value of $93,386.52. Following the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John T. Rippy sold 3,082 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $1,524,698.95. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. 56.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RBCAA. Vanguard Group Inc. boosted its holdings in Republic Bancorp by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 514,866 shares of the bank's stock worth $35,974,000 after purchasing an additional 19,756 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 worth $14,345,000 after buying an additional 9,430 shares during the last quarter. State Street Corp grew its holdings in shares of Republic Bancorp by 2.2% in the 3rd 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 in the last quarter. American Century Companies Inc. increased its position 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 valued at $13,004,000 after acquiring an additional 22,818 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in Republic Bancorp by 2.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 114,292 shares of the bank's stock worth $7,986,000 after acquiring an additional 3,105 shares in the last quarter. 24.37% of the stock is owned by institutional investors and hedge funds.

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.