Republic Bancorp (NASDAQ:RBCAA) Announces Earnings Results, Misses Expectations By $0.13 EPS

Republic Bancorp (NASDAQ:RBCAA) posted its quarterly earnings results on Friday. The bank reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.13), FiscalAI reports. Republic Bancorp had a return on equity of 12.23% and a net margin of 24.53%.The company had revenue of $94.27 million for the quarter, compared to analysts’ expectations of $92.50 million.

Republic Bancorp Stock Up 0.7%

Shares of Republic Bancorp stock traded up $0.52 during midday trading on Friday, hitting $71.92. The company’s stock had a trading volume of 19,462 shares, compared to its average volume of 34,784. Republic Bancorp has a 1-year low of $56.79 and a 1-year high of $78.25. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.41 billion, a P/E ratio of 10.99 and a beta of 0.60. The stock has a 50-day simple moving average of $70.68 and a 200-day simple moving average of $71.22.

Republic Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 20th will be paid a $0.495 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.45. Republic Bancorp’s dividend payout ratio (DPR) is 27.57%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $69.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RBCAA. Quarry LP acquired a new position in Republic Bancorp in the third quarter valued at about $27,000. Russell Investments Group Ltd. increased its holdings in Republic Bancorp by 2,561.3% in the third quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock valued at $60,000 after purchasing an additional 794 shares during the last quarter. Raymond James Financial Inc. bought a new position in Republic Bancorp during the 2nd quarter worth approximately $121,000. BNP Paribas Financial Markets boosted its position in shares of Republic Bancorp by 46.4% during the second quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after purchasing an additional 598 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Republic Bancorp by 125.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,279 shares of the bank’s stock worth $167,000 after acquiring an additional 1,268 shares in the last quarter. 24.37% of the stock is owned by institutional investors.

About Republic Bancorp

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.