Republic Bancorp (NASDAQ:RBCAA) Trading 4.5% Higher - What's Next?

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) shot up 4.5% during trading on Tuesday . The stock traded as high as $63.70 and last traded at $63.23. 8,662 shares were traded during mid-day trading, a decline of 58% from the average session volume of 20,504 shares. The stock had previously closed at $60.53.

Analyst Upgrades and Downgrades

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

Republic Bancorp Trading Up 2.5 %

The stock has a market cap of $1.25 billion, a P/E ratio of 12.25 and a beta of 0.46. The firm's fifty day moving average price is $64.54 and its two-hundred day moving average price is $68.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last released its quarterly earnings results 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 business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, March 21st. Republic Bancorp's payout ratio is currently 34.42%.

Insider Activity

In other news, EVP John T. Rippy sold 3,082 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were 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 in the company, valued at approximately $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 accessible through this hyperlink. Also, Director David P. Feaster sold 1,406 shares of the business's 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 completion of the transaction, the director now owns 4,303 shares in the company, valued at $285,805.26. The trade was a 24.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 56.40% of the company's stock.

Institutional Investors Weigh In On Republic Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of RBCAA. New York State Teachers Retirement System boosted its position in Republic Bancorp by 659.0% during the 4th quarter. New York State Teachers Retirement System now owns 759 shares of the bank's stock valued at $53,000 after acquiring an additional 659 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Republic Bancorp in the 4th quarter valued at approximately $70,000. Tower Research Capital LLC TRC boosted its position in shares of Republic Bancorp by 206.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank's stock valued at $77,000 after purchasing an additional 742 shares in the last quarter. Sei Investments Co. purchased a new stake in Republic Bancorp in the fourth quarter worth $208,000. Finally, Lazard Asset Management LLC raised its holdings in Republic Bancorp by 41.7% in the fourth quarter. Lazard Asset Management LLC now owns 3,271 shares of the bank's stock worth $228,000 after purchasing an additional 962 shares in the last quarter. Hedge funds and other institutional investors own 24.37% of the company's stock.

Republic Bancorp Company Profile

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.