Republic Bancorp (NASDAQ:RBCAA) Trading 2.9% Higher

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares traded up 2.9% during trading on Wednesday . The company traded as high as $48.36 and last traded at $48.36. 1,084 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 16,528 shares. The stock had previously closed at $47.01.

Analyst Upgrades and Downgrades

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

Republic Bancorp Price Performance

The firm has a market capitalization of $926.49 million, a P/E ratio of 10.51 and a beta of 0.57. The firm has a 50 day moving average price of $49.35 and a 200-day moving average price of $49.09. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42.

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

Republic Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, March 15th will be issued a dividend of $0.407 per share. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.37. This represents a $1.63 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, March 14th. Republic Bancorp’s dividend payout ratio (DPR) is presently 35.22%.

Insiders Place Their Bets

In other Republic Bancorp news, Director Michael T. Rust sold 1,400 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $47.43, for a total transaction 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 Securities & Exchange Commission, which is available at the SEC website. 56.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. grew its stake in Republic Bancorp by 59.3% during the 1st quarter. Citigroup Inc. now owns 688 shares of the bank’s stock worth $29,000 after buying an additional 256 shares during the last quarter. Ensign Peak Advisors Inc purchased a new position in Republic Bancorp during the 3rd quarter worth $29,000. Tower Research Capital LLC TRC lifted its position in Republic Bancorp by 150.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 922 shares of the bank’s stock worth $36,000 after acquiring an additional 554 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Republic Bancorp during the 3rd quarter worth about $49,000. Finally, Barclays PLC lifted its position in Republic Bancorp by 389.9% during the 4th quarter. Barclays PLC now owns 2,337 shares of the bank’s stock worth $95,000 after acquiring an additional 1,860 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 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.