Key Points
- Republic Bancorp EVP Jeff Starke sold 820 shares at an average price of $92.40, generating $75,768 and reducing his ownership by 9.47% to 7,837 shares.
- The stock opened at $91.71 and has traded between $63.97 and $102.22 over the past year. The bank’s latest quarterly revenue exceeded estimates, but EPS of $1.59 fell short of the $1.65 consensus.
- Analyst sentiment remains cautious, with one Buy and three Hold ratings and a consensus price target of $98. Institutional investors own 24.37% of the company.
Republic Bancorp, Inc. (NASDAQ:RBCAA - Get Free Report) EVP Jeff Starke sold 820 shares of Republic Bancorp stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $92.40, for a total value of $75,768.00. Following the completion of the transaction, the executive vice president owned 7,837 shares of the company's stock, valued at $724,138.80. This trade represents a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Republic Bancorp Stock Up 0.3%
NASDAQ:RBCAA opened at $91.71 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.02. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 14.11 and a beta of 0.55. Republic Bancorp, Inc. has a one year low of $63.97 and a one year high of $102.22. The stock has a 50-day simple moving average of $93.55 and a 200 day simple moving average of $83.18.
Republic Bancorp (NASDAQ:RBCAA - Get Free Report) last announced its quarterly earnings data on Friday, October 23rd. The bank reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.06). Republic Bancorp had a net margin of 25.33% and a return on equity of 11.20%. The firm had revenue of $103.93 million for the quarter, compared to analyst estimates of $100.35 million. Sell-side analysts predict that Republic Bancorp, Inc. will post 6.98 EPS for the current fiscal year.
Institutional Investors Weigh In On Republic Bancorp
Several large investors have recently made changes to their positions in RBCAA. Nisa Investment Advisors LLC raised its holdings in shares of Republic Bancorp by 40.4% during the third quarter. Nisa Investment Advisors LLC now owns 626 shares of the bank's stock valued at $58,000 after buying an additional 180 shares during the last quarter. Swiss National Bank boosted its position in shares of Republic Bancorp by 2.4% during the first quarter. Swiss National Bank now owns 17,200 shares of the bank's stock worth $1,213,000 after buying an additional 400 shares during the period. Inspire Investing LLC grew its holdings in Republic Bancorp by 6.3% in the 1st quarter. Inspire Investing LLC now owns 7,391 shares of the bank's stock worth $521,000 after buying an additional 439 shares in the last quarter. GAMMA Investing LLC grew its holdings in Republic Bancorp by 167.0% in the 3rd quarter. GAMMA Investing LLC now owns 721 shares of the bank's stock worth $66,000 after buying an additional 451 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Republic Bancorp by 22.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,444 shares of the bank's stock worth $314,000 after buying an additional 820 shares in the last quarter. Institutional investors and hedge funds own 24.37% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded Republic Bancorp to a "hold" rating in a report on Monday, July 13th. Hovde Group raised their price objective on Republic Bancorp from $80.00 to $98.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Weiss Ratings raised shares of Republic Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, October 16th. Finally, Raymond James Financial started coverage on shares of Republic Bancorp in a research note on Wednesday, September 2nd. They set a "hold" rating for the company. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Republic Bancorp has an average rating of "Hold" and a consensus price target of $98.00.
View Our Latest Analysis on RBCAA
About Republic Bancorp
(
Get Free Report)
Republic Bancorp, Inc is a Louisville, Kentucky-based bank holding company whose principal subsidiary is Republic Bank & Trust Company. The company provides consumer and commercial banking services to individuals, businesses, professionals and institutions.
Republic Bank offers deposit accounts, checking and savings products, consumer and commercial loans, mortgages, treasury management, private banking, wealth management and investment services. Through its Republic Processing Group, the company also provides financial services and processing solutions for tax professionals, including tax refund-related products and services.
Founded in 1974, Republic Bancorp serves customers through banking operations primarily in Kentucky and selected markets in the surrounding region, including Indiana, Ohio, Tennessee and Florida.
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