Republic Bancorp (NASDAQ:RBCAA) Trading Up 2% - Still a Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) shares traded up 2% during mid-day trading on Friday . The company traded as high as $73.39 and last traded at $73.39. 1,789 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 17,638 shares. The stock had previously closed at $71.93.

Analyst Upgrades and Downgrades

Separately, Hovde Group lowered shares of Republic Bancorp from an "outperform" rating to a "market perform" rating and boosted their price target for the company from $78.00 to $80.00 in a research note on Wednesday, November 13th.

Republic Bancorp Stock Performance

The firm has a market cap of $1.37 billion, a P/E ratio of 13.44 and a beta of 0.54. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The company's 50-day moving average is $73.51 and its two-hundred day moving average is $64.73.

Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its earnings results on Friday, October 18th. The bank reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. Republic Bancorp had a return on equity of 10.79% and a net margin of 20.65%. The company had revenue of $118.36 million for the quarter.

Republic Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.407 per share. This represents a $1.63 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, December 20th. Republic Bancorp's dividend payout ratio is 30.80%.

Institutional Investors Weigh In On Republic Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC grew its stake in Republic Bancorp by 1.4% in the 3rd quarter. Cerity Partners LLC now owns 12,501 shares of the bank's stock valued at $816,000 after purchasing an additional 167 shares during the period. Empowered Funds LLC grew its position in Republic Bancorp by 2.0% during the third quarter. Empowered Funds LLC now owns 61,825 shares of the bank's stock valued at $4,037,000 after buying an additional 1,204 shares during the period. Bank of New York Mellon Corp increased its holdings in Republic Bancorp by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 76,927 shares of the bank's stock worth $4,124,000 after buying an additional 1,226 shares during the last quarter. Innealta Capital LLC bought a new stake in Republic Bancorp in the second quarter worth about $67,000. Finally, JPMorgan Chase & Co. boosted its stake in Republic Bancorp by 10.0% in the third quarter. JPMorgan Chase & Co. now owns 16,635 shares of the bank's stock valued at $1,086,000 after acquiring an additional 1,515 shares during the last quarter. 24.37% of the stock is owned by institutional investors.

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.