Republic Bancorp (NASDAQ:RBCAA) Shares Down 2.5%

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price traded down 2.5% on Thursday . The company traded as low as $49.28 and last traded at $49.28. 1,364 shares were traded during mid-day trading, a decline of 92% from the average session volume of 16,891 shares. The stock had previously closed at $50.56.

Wall Street Analyst Weigh In

Separately, Hovde Group assumed coverage on Republic Bancorp in a research note on Monday, March 4th. They issued an “outperform” rating on the stock.

Republic Bancorp Stock Performance

The stock has a 50-day simple moving average of $50.02 and a 200 day simple moving average of $48.49. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.07 and a quick ratio of 1.06. The company has a market capitalization of $989.40 million, a PE ratio of 10.99 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings data on Friday, January 26th. The bank reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.28. Republic Bancorp had a return on equity of 10.39% and a net margin of 21.16%. The business had revenue of $105.57 million for the quarter.

Republic Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, March 15th will be issued a $0.407 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.19%. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, March 14th. Republic Bancorp’s dividend payout ratio (DPR) is 35.43%.

Insider Transactions at Republic Bancorp

In other news, Director Michael T. Rust sold 1,400 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $47.43, for a total value of $66,402.00. Following the transaction, the director now directly owns 20,772 shares in the company, valued at approximately $985,215.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 55.50% of the company’s stock.

Institutional Investors Weigh In On Republic Bancorp

Several hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Republic Bancorp by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 927,375 shares of the bank’s stock valued at $51,155,000 after buying an additional 15,040 shares during the period. BlackRock Inc. raised its holdings in shares of Republic Bancorp by 1.9% during the 2nd quarter. BlackRock Inc. now owns 812,901 shares of the bank’s stock valued at $34,548,000 after buying an additional 15,221 shares during the period. Vanguard Group Inc. raised its holdings in shares of Republic Bancorp by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 503,196 shares of the bank’s stock valued at $19,273,000 after buying an additional 3,228 shares during the period. Morgan Stanley raised its holdings in shares of Republic Bancorp by 1.8% during the 4th quarter. Morgan Stanley now owns 455,389 shares of the bank’s stock valued at $18,635,000 after buying an additional 7,995 shares during the period. Finally, State Street Corp raised its holdings in shares of Republic Bancorp by 0.7% during the 1st quarter. State Street Corp now owns 204,877 shares of the bank’s stock valued at $8,769,000 after buying an additional 1,520 shares during the period. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Republic Bancorp Company Profile

Republic Bancorp, Inc, a financial holding company, provides various banking products and services in the United States. It operates in five segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, and Republic Credit Solutions. The company accepts demand, money market accounts, savings, individual retirement accounts, time, brokered, and other certificates of deposit.