Vanguard Group Inc. increased its holdings in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA - Free Report) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 514,866 shares of the bank's stock after purchasing an additional 19,756 shares during the quarter. Vanguard Group Inc. owned 2.65% of Republic Bancorp worth $35,974,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System grew its stake in shares of Republic Bancorp by 659.0% in the fourth quarter. New York State Teachers Retirement System now owns 759 shares of the bank's stock valued at $53,000 after buying an additional 659 shares in the last quarter. Sei Investments Co. purchased a new stake in Republic Bancorp during the fourth quarter worth about $208,000. The Manufacturers Life Insurance Company purchased a new stake in Republic Bancorp during the third quarter worth about $224,000. SG Americas Securities LLC grew its stake in shares of Republic Bancorp by 22.8% in the fourth quarter. SG Americas Securities LLC now owns 3,851 shares of the bank's stock worth $269,000 after acquiring an additional 714 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of Republic Bancorp during the fourth quarter worth approximately $280,000. 24.37% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other 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 transaction of $93,386.52. Following the sale, the director now owns 4,303 shares in the company, valued at $285,805.26. This trade represents a 24.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John T. Rippy sold 3,082 shares of the company's stock in a transaction on Thursday, January 30th. The stock was 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 of the company's stock, valued at approximately $1,524,698.95. The trade was a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 56.40% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Separately, Hovde Group reduced their price objective on 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.
Check Out Our Latest Analysis on Republic Bancorp
Republic Bancorp Stock Performance
Republic Bancorp stock traded up $1.54 during trading hours on Friday, reaching $64.09. 37,359 shares of the stock were exchanged, compared to its average volume of 20,806. Republic Bancorp, Inc. has a 52-week low of $47.20 and a 52-week high of $80.68. The firm's 50 day moving average is $64.54 and its 200 day moving average is $68.26. The stock has a market cap of $1.25 billion, a P/E ratio of 12.25 and a beta of 0.46. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12.
Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last posted its quarterly earnings results 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 will be paid on Friday, April 18th. Investors of record on Friday, March 21st will be paid a $0.451 dividend. 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 2.81%. The ex-dividend date is Friday, March 21st. Republic Bancorp's dividend payout ratio (DPR) is presently 34.42%.
Republic Bancorp Company Profile
(
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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