PNC Financial Services Group Inc. Buys 15,000 Shares of Republic Bancorp, Inc. $RBCAA

PNC Financial Services Group Inc. increased its position in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 7,500.0% during the third quarter, HoldingsChannel.com reports. The fund owned 15,200 shares of the bank’s stock after acquiring an additional 15,000 shares during the period. PNC Financial Services Group Inc.’s holdings in Republic Bancorp were worth $1,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RBCAA. CWM LLC raised its position in shares of Republic Bancorp by 68.0% in the second quarter. CWM LLC now owns 608 shares of the bank’s stock worth $44,000 after buying an additional 246 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Republic Bancorp during the third quarter worth about $50,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Republic Bancorp in the 3rd quarter worth about $60,000. Quent Capital LLC purchased a new stake in shares of Republic Bancorp in the 3rd quarter valued at about $73,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Republic Bancorp in the 2nd quarter valued at about $121,000. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on RBCAA. Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a research report on Thursday, January 22nd. Wall Street Zen lowered shares of Republic Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $69.00.

Republic Bancorp Stock Performance

NASDAQ:RBCAA opened at $69.14 on Wednesday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.29 and a beta of 0.60. The business has a 50 day moving average of $71.45 and a 200 day moving average of $71.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.06 and a quick ratio of 1.05. Republic Bancorp, Inc. has a 1-year low of $56.79 and a 1-year high of $78.25.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly 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 analysts’ expectations of $92.50 million.

Republic Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 20th will be paid a $0.495 dividend. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.45. This represents a $1.98 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, March 20th. 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.