Zacks Research Upgrades Republic Bancorp (NASDAQ:RBCAA) to “Hold”

Republic Bancorp (NASDAQ:RBCAA) was upgraded by Zacks Research to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Republic Bancorp Stock Performance

Shares of RBCAA stock opened at $88.48 on Monday. The business’s 50-day moving average price is $83.83 and its 200-day moving average price is $75.78. Republic Bancorp has a 12 month low of $63.97 and a 12 month high of $93.54. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 13.65 and a beta of 0.56. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.63. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.The company had revenue of $114.57 million for the quarter, compared to analysts’ expectations of $96.60 million. Equities research analysts forecast that Republic Bancorp will post 6.65 EPS for the current year.

Insider Activity

In related news, EVP Christy Ames sold 340 shares of Republic Bancorp stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total value of $29,886.00. Following the transaction, the executive vice president directly owned 6,145 shares of the company’s stock, valued at $540,145.50. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony T. Powell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total value of $250,620.00. Following the completion of the sale, the executive vice president owned 24,691 shares in the company, valued at $2,062,686.14. The trade was a 10.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 55.90% of the company’s stock.

Institutional Trading of Republic Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Formidable Asset Management LLC boosted its holdings in Republic Bancorp by 0.6% in the fourth quarter. Formidable Asset Management LLC now owns 30,776 shares of the bank’s stock worth $2,224,000 after acquiring an additional 184 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Republic Bancorp by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,072 shares of the bank’s stock valued at $371,000 after acquiring an additional 187 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 purchasing an additional 234 shares during the period. Silver Oak Securities Incorporated raised its position in shares of Republic Bancorp by 9.4% during the first quarter. Silver Oak Securities Incorporated now owns 3,486 shares of the bank’s stock worth $246,000 after purchasing an additional 300 shares during the period. Finally, Quarry LP acquired a new position in shares of Republic Bancorp during the third quarter worth approximately $27,000. Institutional investors and hedge funds own 24.37% of the company’s stock.

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.