Republic Bancorp (NASDAQ:RBCAA) Upgraded at Zacks Research

Republic Bancorp (NASDAQ:RBCAA) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other research analysts have also issued reports on RBCAA. Hovde Group increased their target price on Republic Bancorp from $80.00 to $98.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings raised shares of Republic Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, October 16th. Finally, Raymond James Financial began coverage on shares of Republic Bancorp in a research report on Wednesday, September 2nd. They set a “hold” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $98.00.

Republic Bancorp Stock Performance

NASDAQ RBCAA opened at $91.18 on Monday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 14.27 and a beta of 0.55. The stock has a 50-day moving average of $93.36 and a 200 day moving average of $83.50. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.14. Republic Bancorp has a twelve month low of $63.97 and a twelve month high of $102.22.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings data on Friday, October 23rd. The bank reported $1.59 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.06). The business had revenue of $103.93 million during the quarter, compared to analyst estimates of $100.35 million. Republic Bancorp had a net margin of 25.33% and a return on equity of 11.20%. Sell-side analysts anticipate that Republic Bancorp will post 6.98 EPS for the current fiscal year.

Insider Transactions at Republic Bancorp

In related news, EVP Jeff Starke sold 820 shares of Republic Bancorp stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $92.40, for a total value of $75,768.00. Following the sale, the executive vice president directly owned 7,837 shares in the company, valued at approximately $724,138.80. The trade was a 9.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 55.90% of the company’s stock.

Hedge Funds Weigh In On Republic Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in RBCAA. Y Intercept Hong Kong Ltd acquired a new stake in Republic Bancorp during the 1st quarter worth $956,000. Renaissance Technologies LLC grew its holdings in shares of Republic Bancorp by 27.2% during the first quarter. Renaissance Technologies LLC now owns 46,300 shares of the bank’s stock worth $3,266,000 after buying an additional 9,900 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Republic Bancorp by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 928,367 shares of the bank’s stock worth $65,496,000 after buying an additional 5,656 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Republic Bancorp during the first quarter worth $384,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Republic Bancorp in the second quarter valued at about $479,000. Hedge funds and other institutional investors own 24.37% of the company’s stock.

About Republic Bancorp

Republic Bancorp, Inc is a Louisville, Kentucky-based bank holding company whose principal subsidiary is Republic Bank & Trust Company. The company provides consumer and commercial banking services to individuals, businesses, professionals and institutions.

Republic Bank offers deposit accounts, checking and savings products, consumer and commercial loans, mortgages, treasury management, private banking, wealth management and investment services. Through its Republic Processing Group, the company also provides financial services and processing solutions for tax professionals, including tax refund-related products and services.

Founded in 1974, Republic Bancorp serves customers through banking operations primarily in Kentucky and selected markets in the surrounding region, including Indiana, Ohio, Tennessee and Florida.