Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase – Here’s What Happened

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares saw unusually-high trading volume on Tuesday . Approximately 45,240 shares changed hands during trading, a decline of 36% from the previous session’s volume of 71,113 shares.The stock last traded at $90.3620 and had previously closed at $90.30.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Republic Bancorp Price Performance

The company has a fifty day simple moving average of $80.56 and a two-hundred day simple moving average of $74.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.06. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.91 and a beta of 0.58.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.63. The business had revenue of $114.57 million for the quarter, compared to analysts’ expectations of $96.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.

Republic Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, June 18th will be paid a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, June 18th. Republic Bancorp’s dividend payout ratio (DPR) is presently 30.56%.

Insider Activity

In other news, EVP Anthony T. Powell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total transaction of $250,620.00. Following the completion of the transaction, the executive vice president owned 24,691 shares of the company’s stock, valued at $2,062,686.14. This represents a 10.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christy Ames sold 340 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total transaction of $29,886.00. Following the completion of the sale, the executive vice president owned 6,145 shares of the company’s stock, valued at approximately $540,145.50. The trade was a 5.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 55.90% of the stock is owned by insiders.

Institutional Trading of Republic Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in RBCAA. AQR Capital Management LLC boosted its holdings in Republic Bancorp by 199.8% in the first quarter. AQR Capital Management LLC now owns 11,649 shares of the bank’s stock valued at $743,000 after acquiring an additional 7,764 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Republic Bancorp by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank’s stock worth $316,000 after acquiring an additional 234 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Republic Bancorp in the 1st quarter worth about $716,000. Rhumbline Advisers raised its holdings in shares of Republic Bancorp by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 14,120 shares of the bank’s stock worth $1,032,000 after purchasing an additional 527 shares during the period. Finally, Norges Bank acquired a new position in shares of Republic Bancorp in the 2nd quarter valued at about $578,000. 24.37% of the stock is currently owned by institutional investors and hedge funds.

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.