Republic Bancorp, Inc. (NASDAQ:RBCAA) Sees Large Decline in Short Interest

Republic Bancorp, Inc. (NASDAQ:RBCAA) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 83,541 shares, a decline of 19.6% from the January 15th total of 103,853 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average trading volume of 31,916 shares, the days-to-cover ratio is presently 2.6 days. Based on an average trading volume of 31,916 shares, the days-to-cover ratio is presently 2.6 days. Approximately 1.0% of the company’s stock are short sold.

Hedge Funds Weigh In On Republic Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in Republic Bancorp during the 3rd quarter worth approximately $27,000. CWM LLC grew its stake in shares of Republic Bancorp by 68.0% in the second quarter. CWM LLC now owns 608 shares of the bank’s stock valued at $44,000 after acquiring an additional 246 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Republic Bancorp in the 3rd quarter valued at about $50,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Republic Bancorp during the third quarter worth approximately $60,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Republic Bancorp by 2,561.3% in 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. Institutional investors and hedge funds own 24.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on RBCAA. Wall Street Zen downgraded Republic Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Republic Bancorp presently has a consensus rating of “Hold” and a consensus target price of $69.00.

Republic Bancorp Price Performance

Shares of NASDAQ RBCAA opened at $72.30 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average price is $71.63 and its two-hundred day moving average price is $71.16. The company has a market cap of $1.41 billion, a PE ratio of 10.76 and a beta of 0.60. Republic Bancorp has a twelve month low of $56.79 and a twelve month high of $78.25.

Republic Bancorp (NASDAQ:RBCAA) last issued its earnings results on Friday, January 30th. The bank reported $1.17 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.13). Republic Bancorp had a return on equity of 12.39% and a net margin of 25.19%.The business had revenue of $94.27 million for the quarter, compared to the consensus estimate of $92.50 million.

Republic Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 20th will be issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, March 20th. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.45. Republic Bancorp’s payout ratio is presently 29.46%.

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.