Republic Bancorp (NASDAQ:RBCAA) PT Raised to $78.00

Republic Bancorp (NASDAQ:RBCAA) had its price objective hoisted by Hovde Group from $68.00 to $78.00 in a note issued to investors on Friday, MarketBeat reports. The brokerage presently has an “outperform” rating on the bank’s stock. Hovde Group’s target price would suggest a potential upside of 12.88% from the stock’s previous close.

Republic Bancorp Stock Up 2.0 %

RBCAA stock opened at $69.10 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.09. Republic Bancorp has a fifty-two week low of $42.51 and a fifty-two week high of $70.00. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 14.52 and a beta of 0.52. The company’s 50 day moving average price is $63.12 and its 200 day moving average price is $56.99.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Friday, July 19th. The bank reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). The company had revenue of $116.05 million for the quarter. Republic Bancorp had a return on equity of 10.50% and a net margin of 20.41%.

Insider Buying and Selling

In related news, EVP Christy Ames sold 1,715 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $63.72, for a total value of $109,279.80. Following the transaction, the executive vice president now directly owns 4,240 shares of the company’s stock, valued at approximately $270,172.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Christy Ames sold 1,715 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $63.72, for a total transaction of $109,279.80. Following the completion of the sale, the executive vice president now directly owns 4,240 shares of the company’s stock, valued at approximately $270,172.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Feaster sold 789 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $65.91, for a total value of $52,002.99. Following the completion of the transaction, the director now directly owns 5,487 shares in the company, valued at $361,648.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,078 shares of company stock valued at $1,170,715. Insiders own 55.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RBCAA. Innealta Capital LLC bought a new stake in shares of Republic Bancorp in the 2nd quarter worth about $67,000. Acadian Asset Management LLC bought a new stake in Republic Bancorp in the second quarter valued at about $87,000. Independence Bank of Kentucky raised its stake in Republic Bancorp by 4,133.3% during the second quarter. Independence Bank of Kentucky now owns 3,175 shares of the bank’s stock valued at $170,000 after buying an additional 3,100 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Republic Bancorp in the 3rd quarter worth approximately $205,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Republic Bancorp in the 3rd quarter valued at approximately $208,000. Institutional investors and hedge funds own 24.37% of the company’s stock.

Republic Bancorp Company Profile

Republic Bancorp, Inc operates as a bank holding company for Republic Bank & Trust Company that provides various banking products and services in the United States. It operates in six segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions.