Raymond James Financial Initiates Coverage on Republic Bancorp (NASDAQ:RBCAA)

Raymond James Financial started coverage on shares of Republic Bancorp (NASDAQ:RBCAA) in a research report issued on Wednesday. The brokerage set a “market perform” rating on the bank’s stock.

RBCAA has been the subject of several other reports. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a report on Tuesday, June 9th. Hovde Group upped their target price on shares of Republic Bancorp from $80.00 to $98.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Finally, Zacks Research raised shares of Republic Bancorp to a “hold” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Republic Bancorp has an average rating of “Hold” and an average price target of $98.00.

Republic Bancorp Stock Down 0.0%

Shares of Republic Bancorp stock traded down $0.04 on Wednesday, hitting $94.67. 2,446 shares of the company’s stock traded hands, compared to its average volume of 80,932. Republic Bancorp has a 52-week low of $63.97 and a 52-week high of $102.22. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.14. The stock has a market cap of $1.86 billion, a P/E ratio of 14.48 and a beta of 0.54. The firm’s 50-day moving average is $93.88 and its 200 day moving average is $81.80.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Friday, July 24th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.13. The business had revenue of $101.27 million during the quarter, compared to analyst estimates of $97.60 million. Republic Bancorp had a net margin of 25.38% and a return on equity of 11.20%. Equities analysts anticipate that Republic Bancorp will post 6.65 earnings per share for the current year.

Insider Buying and Selling at Republic Bancorp

In other Republic Bancorp news, EVP Anthony T. Powell sold 3,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total transaction of $250,620.00. Following the sale, the executive vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the executive vice president owned 6,145 shares in the company, 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.

Hedge Funds Weigh In On Republic Bancorp

Large investors have recently bought and sold shares of the business. California State Teachers Retirement System lifted its holdings in Republic Bancorp by 9,986.2% in the second quarter. California State Teachers Retirement System now owns 796,507 shares of the bank’s stock worth $72,028,000 after acquiring an additional 788,610 shares during the last quarter. Vestor Capital LLC grew its holdings in shares of Republic Bancorp by 164.4% during the first quarter. Vestor Capital LLC now owns 5,594 shares of the bank’s stock valued at $395,000 after purchasing an additional 3,478 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Republic Bancorp by 29.9% during the first quarter. Bank of America Corp DE now owns 16,035 shares of the bank’s stock valued at $1,131,000 after purchasing an additional 3,687 shares during the last quarter. Royal Bank of Canada raised its position in shares of Republic Bancorp by 46.2% during the 1st quarter. Royal Bank of Canada now owns 3,401 shares of the bank’s stock worth $239,000 after purchasing an additional 1,074 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Republic Bancorp by 6.1% during the 1st quarter. Empowered Funds LLC now owns 78,246 shares of the bank’s stock worth $5,520,000 after purchasing an additional 4,511 shares during the period. Institutional investors own 24.37% of the company’s stock.

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.