Republic Bancorp (NASDAQ:RBCAA) Sees Unusually-High Trading Volume - Still a Buy?

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 19,065 shares were traded during trading, a decline of 19% from the previous session's volume of 23,431 shares.The stock last traded at $67.05 and had previously closed at $66.79.

Wall Street Analyst Weigh In

Separately, Hovde Group lowered their price objective on shares of Republic Bancorp from $72.00 to $70.00 and set a "market perform" rating for the company in a report on Monday, January 27th.

Republic Bancorp Stock Performance

The stock has a market cap of $1.28 billion, a PE ratio of 12.55 and a beta of 0.54. The company has a fifty day moving average price of $68.44 and a 200 day moving average price of $67.67. 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 announced its quarterly earnings data on Friday, January 24th. The bank reported $0.98 earnings per share for the quarter, missing the consensus estimate 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 declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be issued a $0.451 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, March 21st. This is a positive change from Republic Bancorp's previous quarterly dividend of $0.41. Republic Bancorp's dividend payout ratio (DPR) is 34.42%.

Insider Activity

In related news, 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John T. Rippy sold 3,082 shares of Republic Bancorp stock in a transaction on Thursday, January 30th. The shares were 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 owns 23,105 shares in the company, 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. Insiders own 55.50% of the company's stock.

Hedge Funds Weigh In On Republic Bancorp

Institutional investors have recently bought and sold shares of the stock. Cary Street Partners Financial LLC purchased a new position in Republic Bancorp during the fourth quarter valued at $2,931,000. Norges Bank purchased a new position in Republic Bancorp during the 4th quarter valued at about $1,803,000. American Century Companies Inc. boosted its stake in Republic Bancorp by 14.0% during the fourth quarter. American Century Companies Inc. now owns 186,117 shares of the bank's stock worth $13,004,000 after acquiring an additional 22,818 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Republic Bancorp by 119.8% in the fourth quarter. JPMorgan Chase & Co. now owns 36,567 shares of the bank's stock worth $2,555,000 after purchasing an additional 19,932 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Republic Bancorp by 4.0% during 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. 24.37% of the stock is owned by institutional investors.

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.