Republic Bancorp (NASDAQ:RBCAA) Hits New 1-Year High – What’s Next?

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) reached a new 52-week high during trading on Thursday . The stock traded as high as $102.00 and last traded at $99.75, with a volume of 172527 shares changing hands. The stock had previously closed at $100.64.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RBCAA. Hovde Group lifted their price objective on shares of Republic Bancorp from $80.00 to $98.00 and gave the stock a “market perform” rating in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. Zacks Research upgraded shares of Republic Bancorp to a “hold” rating in a research note on Monday, July 13th. Finally, Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $98.00.

Republic Bancorp Price Performance

The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average price is $87.48 and its two-hundred day moving average price is $77.65. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 15.23 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA) last posted its earnings results on Friday, July 24th. The bank reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.13. Republic Bancorp had a net margin of 25.38% and a return on equity of 11.32%. The company had revenue of $101.27 million during the quarter, compared to the consensus estimate of $97.60 million. Equities research analysts forecast that Republic Bancorp, Inc. will post 6.65 EPS for the current fiscal year.

Republic Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 18th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 18th. Republic Bancorp’s payout ratio is 30.23%.

Insider Transactions at Republic Bancorp

In related news, EVP Christy Ames sold 340 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $87.90, for a total transaction of $29,886.00. Following the sale, the executive vice president directly owned 6,145 shares of the company’s stock, valued at $540,145.50. This trade represents 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 at this hyperlink. Also, EVP Anthony T. Powell sold 3,000 shares of Republic Bancorp 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 transaction, the executive vice president owned 24,691 shares of the company’s stock, valued at approximately $2,062,686.14. This represents a 10.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 55.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Republic Bancorp

Institutional investors have recently made changes to their positions in the company. Quarry LP acquired a new position in shares of Republic Bancorp in the 3rd quarter valued at $27,000. Russell Investments Group Ltd. grew its position in Republic Bancorp by 2,561.3% during the third quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock valued at $60,000 after buying an additional 794 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Republic Bancorp by 541.2% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock valued at $121,000 after buying an additional 1,483 shares during the period. Raymond James Financial Inc. purchased a new position in Republic Bancorp in the second quarter valued at $121,000. Finally, BNP Paribas Financial Markets increased its holdings in Republic Bancorp by 46.4% in the second quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock valued at $138,000 after buying an additional 598 shares in the last quarter. 24.37% of the stock is owned by hedge funds and other institutional investors.

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.