Republic Bancorp (NASDAQ:RBCAA) Stock Crosses Above 200-Day Moving Average – Here’s Why

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $71.14 and traded as high as $73.54. Republic Bancorp shares last traded at $72.18, with a volume of 40,803 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RBCAA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Bancorp in a research report on Thursday, January 22nd. Wall Street Zen lowered Republic Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Republic Bancorp presently has an average rating of “Hold” and an average target price of $69.00.

Republic Bancorp Price Performance

The business’s fifty day moving average price is $71.50 and its 200-day moving average price is $71.14. The company has a market capitalization of $1.41 billion, a P/E ratio of 10.74 and a beta of 0.60. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings results on Friday, January 30th. The bank reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.13). Republic Bancorp had a net margin of 25.19% and a return on equity of 12.39%. The firm had revenue of $94.27 million for the quarter, compared to analysts’ expectations of $92.50 million.

Republic Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 20th will be paid a $0.495 dividend. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.45. This represents a $1.98 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, March 20th. Republic Bancorp’s payout ratio is currently 29.46%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Empowered Funds LLC lifted its holdings in shares of Republic Bancorp by 9.2% in the 4th quarter. Empowered Funds LLC now owns 73,735 shares of the bank’s stock worth $5,087,000 after acquiring an additional 6,189 shares during the last quarter. Deutsche Bank AG raised its position in Republic Bancorp by 15.0% in the 4th quarter. Deutsche Bank AG now owns 5,377 shares of the bank’s stock worth $371,000 after purchasing an additional 701 shares during the period. Goldman Sachs Group Inc. lifted its stake in Republic Bancorp by 41.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 60,225 shares of the bank’s stock worth $4,155,000 after purchasing an additional 17,709 shares during the last quarter. Valeo Financial Advisors LLC purchased a new stake in Republic Bancorp during the fourth quarter valued at about $312,000. Finally, Denali Advisors LLC grew its stake in shares of Republic Bancorp by 6.6% during the fourth quarter. Denali Advisors LLC now owns 27,400 shares of the bank’s stock valued at $1,890,000 after buying an additional 1,700 shares during the last quarter. 24.37% of the stock is owned by hedge funds and other 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.