Republic Bancorp (NASDAQ:RBCAA) Issues Earnings Results, Beats Expectations By $0.63 EPS

Republic Bancorp (NASDAQ:RBCAA) released its quarterly earnings results on Thursday. The bank reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.63, FiscalAI reports. The business had revenue of $114.57 million during the quarter, compared to analyst estimates of $96.60 million. Republic Bancorp had a net margin of 25.19% and a return on equity of 12.27%.

Republic Bancorp Price Performance

Shares of RBCAA stock traded up $2.75 during midday trading on Thursday, reaching $75.21. 26,110 shares of the company were exchanged, compared to its average volume of 58,153. Republic Bancorp has a 12 month low of $63.97 and a 12 month high of $78.25. The company has a market cap of $1.47 billion, a P/E ratio of 11.15 and a beta of 0.55. The company’s 50 day moving average price is $70.90 and its two-hundred day moving average price is $70.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.05 and a current ratio of 1.08.

Institutional Trading of Republic Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Republic Bancorp in the 3rd quarter worth approximately $27,000. Russell Investments Group Ltd. grew its stake in shares of Republic Bancorp by 2,561.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock worth $60,000 after purchasing an additional 794 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Republic Bancorp in the 2nd quarter worth approximately $121,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Republic Bancorp by 541.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock worth $121,000 after purchasing an additional 1,483 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Republic Bancorp by 46.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after purchasing an additional 598 shares during the last quarter. 24.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RBCAA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Republic Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, March 14th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $69.00.

Republic Bancorp Company Profile

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.