Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) Vice Chairman Scott Trager purchased 148 shares of the business's stock in a transaction dated Thursday, February 26th. The shares were purchased at an average cost of $71.13 per share, with a total value of $10,527.24. Following the completion of the purchase, the insider directly owned 57,684 shares in the company, valued at approximately $4,103,062.92. This represents a 0.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Republic Bancorp Stock Up 1.2%
Shares of Republic Bancorp stock opened at $69.80 on Tuesday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 10.39 and a beta of 0.60. The stock has a 50-day simple moving average of $71.21 and a 200-day simple moving average of $71.28. Republic Bancorp, Inc. has a 52-week low of $56.79 and a 52-week high of $78.25. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.06 and a quick ratio of 1.05.
Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last issued its quarterly earnings data on Friday, January 30th. The bank reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.13). The business had revenue of $94.27 million for the quarter, compared to the consensus estimate of $92.50 million. Republic Bancorp had a net margin of 25.19% and a return on equity of 12.39%.
Republic Bancorp Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, March 20th will be issued a dividend of $0.495 per share. The ex-dividend date is Friday, March 20th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.8%. This is an increase from Republic Bancorp's previous quarterly dividend of $0.45. Republic Bancorp's payout ratio is 29.46%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in Republic Bancorp by 7,500.0% during the third quarter. PNC Financial Services Group Inc. now owns 15,200 shares of the bank's stock valued at $1,098,000 after acquiring an additional 15,000 shares during the period. American Century Companies Inc. increased its stake in shares of Republic Bancorp by 13.8% in the second quarter. American Century Companies Inc. now owns 238,979 shares of the bank's stock worth $17,472,000 after purchasing an additional 28,976 shares during the period. Inspire Advisors LLC lifted its position in shares of Republic Bancorp by 12.6% during the 2nd quarter. Inspire Advisors LLC now owns 44,225 shares of the bank's stock worth $3,233,000 after purchasing an additional 4,947 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Republic Bancorp by 9.0% during the 2nd quarter. Geode Capital Management LLC now owns 234,101 shares of the bank's stock worth $17,118,000 after purchasing an additional 19,271 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in Republic Bancorp during the 2nd quarter valued at approximately $159,000. 24.37% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
RBCAA has been the topic of several analyst reports. Wall Street Zen raised shares of Republic Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Republic Bancorp in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $69.00.
Read Our Latest Analysis on RBCAA
About Republic Bancorp
(
Get Free Report)
Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.
Republic Bancorp's branch network spans key markets in the U.S.
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