Republic Bancorp (NASDAQ:RBCAA) Sets New 1-Year High – Here’s Why

Republic Bancorp, Inc. (NASDAQ:RBCAA) hit a new 52-week high on Thursday . The company traded as high as $88.54 and last traded at $87.73, with a volume of 75775 shares traded. The stock had previously closed at $86.17.

Analyst Ratings Changes

A number of equities research analysts have commented on RBCAA shares. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Republic Bancorp currently has a consensus rating of “Moderate Buy”.

Republic Bancorp Stock Performance

The business’s 50-day moving average price is $77.61 and its 200-day moving average price is $73.07. 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 stock has a market cap of $1.72 billion, a P/E ratio of 13.53 and a beta of 0.58.

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

Republic Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors 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 2.3%. Republic Bancorp’s dividend payout ratio is currently 30.56%.

Insider Buying and Selling at Republic Bancorp

In related news, EVP Anthony T. Powell sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total value of $250,620.00. Following the completion of the transaction, the executive vice president owned 24,691 shares of the company’s stock, valued at approximately $2,062,686.14. This represents a 10.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christy Ames sold 340 shares of the company’s stock in a transaction on 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 directly owned 6,145 shares of the company’s stock, valued at $540,145.50. This represents a 5.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 55.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RBCAA. AQR Capital Management LLC boosted its holdings in Republic Bancorp by 199.8% in the 1st quarter. AQR Capital Management LLC now owns 11,649 shares of the bank’s stock worth $743,000 after buying an additional 7,764 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Republic Bancorp by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank’s stock worth $316,000 after buying an additional 234 shares during the period. Jane Street Group LLC bought a new position in Republic Bancorp in the 1st quarter worth $716,000. Rhumbline Advisers boosted its holdings in Republic Bancorp by 3.9% in the 2nd quarter. Rhumbline Advisers now owns 14,120 shares of the bank’s stock worth $1,032,000 after buying an additional 527 shares during the period. Finally, Norges Bank bought a new position in Republic Bancorp in the 2nd quarter worth $578,000. Institutional investors own 24.37% of the company’s stock.

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.