Republic Bancorp (NASDAQ:RBCAA) Sets New 1-Year High – Still a Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $88.84 and last traded at $88.0280, with a volume of 8525 shares changing hands. The stock had previously closed at $87.87.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Republic Bancorp Stock Performance

The firm’s fifty day moving average price is $79.63 and its 200 day moving average price is $74.05. The firm has a market cap of $1.72 billion, a P/E ratio of 13.57 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.06.

Republic Bancorp (NASDAQ:RBCAA) last released 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. The firm had revenue of $114.57 million for the quarter, compared to the consensus estimate of $96.60 million. Republic Bancorp had a net margin of 25.22% and a return on equity of 11.32%.

Republic Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, June 18th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, June 18th. Republic Bancorp’s payout ratio is presently 30.56%.

Insiders Place Their Bets

In other Republic Bancorp news, EVP Christy Ames sold 340 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $87.90, for a total value of $29,886.00. Following the completion of the transaction, the executive vice president directly owned 6,145 shares in the company, valued at approximately $540,145.50. The trade was a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Anthony T. Powell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total transaction of $250,620.00. Following the completion of the sale, the executive vice president owned 24,691 shares in the company, valued at $2,062,686.14. This represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 55.90% of the company’s stock.

Institutional Trading of Republic Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP purchased a new position in Republic Bancorp during the 3rd quarter worth $27,000. Russell Investments Group Ltd. raised its stake in Republic Bancorp by 2,561.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock worth $60,000 after acquiring an additional 794 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Republic Bancorp by 541.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock worth $121,000 after acquiring an additional 1,483 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Republic Bancorp during the 2nd quarter worth about $121,000. Finally, BNP Paribas Financial Markets lifted its position in Republic Bancorp by 46.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after acquiring an additional 598 shares during the period. Hedge funds and other 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.