Republic Bancorp (NASDAQ:RBCAA) Reaches New 12-Month High – Here’s Why

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) hit a new 52-week high on Tuesday . The stock traded as high as $81.05 and last traded at $80.53, with a volume of 22523 shares. The stock had previously closed at $79.41.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Republic Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.06. The business has a 50-day moving average price of $73.61 and a 200 day moving average price of $71.43. The stock has a market capitalization of $1.57 billion, a P/E ratio of 12.32 and a beta of 0.57.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.63. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.The firm had revenue of $114.57 million for the quarter, compared to analysts’ expectations of $96.60 million.

Republic Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, June 18th will be issued a $0.495 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $1.98 annualized dividend and a yield of 2.5%. Republic Bancorp’s payout ratio is 30.56%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Quarry LP purchased a new position in Republic Bancorp in the third quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Republic Bancorp in the third quarter worth about $60,000. Russell Investments Group Ltd. raised its holdings in Republic Bancorp by 2,561.3% in the third quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock worth $60,000 after buying an additional 794 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Republic Bancorp by 541.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock worth $121,000 after buying an additional 1,483 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Republic Bancorp in the second quarter worth about $121,000. 24.37% of the stock is owned by hedge funds and other institutional investors.

Republic Bancorp Company 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.