Fifth Third Bancorp Takes $384,000 Position in Republic Bancorp, Inc. $RBCAA

Fifth Third Bancorp acquired a new position in Republic Bancorp, Inc. (NASDAQ:RBCAA) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,450 shares of the bank’s stock, valued at approximately $384,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RBCAA. 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 raised its position in shares of Republic Bancorp by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,072 shares of the bank’s stock valued at $371,000 after purchasing an additional 187 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Republic Bancorp by 5.0% in the 1st 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 in the last quarter. Silver Oak Securities Incorporated grew its position in Republic Bancorp by 9.4% during the 1st 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 last quarter. Finally, Quarry LP acquired a new position in Republic Bancorp during the 3rd quarter valued at approximately $27,000. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Republic Bancorp news, EVP Anthony T. Powell sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total value of $250,620.00. Following the completion of the transaction, the executive vice president directly owned 24,691 shares of the company’s stock, valued at approximately $2,062,686.14. The trade was a 10.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christy Ames sold 340 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $540,145.50. The trade was a 5.24% decrease in their position. The SEC filing for this sale provides additional information. 55.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RBCAA. Wall Street Zen upgraded shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Zacks Research raised Republic Bancorp to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. Finally, Hovde Group boosted their price target on Republic Bancorp from $80.00 to $98.00 and gave the company a “market perform” rating in a research note on Monday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $98.00.

Republic Bancorp Trading Down 1.3%

Shares of Republic Bancorp stock opened at $98.44 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 1.05. The firm has a fifty day moving average price of $87.86 and a 200 day moving average price of $77.86. Republic Bancorp, Inc. has a 1 year low of $63.97 and a 1 year high of $102.00. The stock has a market cap of $1.93 billion, a PE ratio of 15.03 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. The company had revenue of $101.27 million during the quarter, compared to the consensus estimate of $97.60 million. Republic Bancorp had a net margin of 25.38% and a return on equity of 11.32%. Equities research analysts predict that Republic Bancorp, Inc. will post 6.65 earnings per share for the current year.

Republic Bancorp Announces Dividend

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

Republic Bancorp 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.