The Manufacturers Life Insurance Company Takes $224,000 Position in Republic Bancorp, Inc. (NASDAQ:RBCAA)

The Manufacturers Life Insurance Company purchased a new stake in Republic Bancorp, Inc. (NASDAQ:RBCAA) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,435 shares of the bank’s stock, valued at approximately $224,000.

A number of other institutional investors have also made changes to their positions in the stock. Cerity Partners LLC raised its holdings in shares of Republic Bancorp by 1.4% in the 3rd quarter. Cerity Partners LLC now owns 12,501 shares of the bank’s stock valued at $816,000 after buying an additional 167 shares during the period. Empowered Funds LLC boosted its stake in shares of Republic Bancorp by 2.0% in the 3rd quarter. Empowered Funds LLC now owns 61,825 shares of the bank’s stock valued at $4,037,000 after buying an additional 1,204 shares during the period. Bank of New York Mellon Corp increased its position in shares of Republic Bancorp by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,927 shares of the bank’s stock valued at $4,124,000 after purchasing an additional 1,226 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of Republic Bancorp in the 2nd quarter valued at $67,000. Finally, Acadian Asset Management LLC purchased a new stake in Republic Bancorp during the 2nd quarter worth about $87,000. 24.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Hovde Group downgraded Republic Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $78.00 to $80.00 in a research note on Wednesday, November 13th.

Republic Bancorp Trading Down 0.2 %

Shares of Republic Bancorp stock opened at $76.69 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1.49 billion, a PE ratio of 14.58 and a beta of 0.54. Republic Bancorp, Inc. has a 12-month low of $46.55 and a 12-month high of $80.68. The company has a 50-day moving average of $72.40 and a two-hundred day moving average of $63.59.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Friday, October 18th. The bank reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The business had revenue of $118.36 million for the quarter. Republic Bancorp had a return on equity of 10.79% and a net margin of 20.65%.

Republic Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, December 20th will be paid a $0.407 dividend. This represents a $1.63 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, December 20th. Republic Bancorp’s dividend payout ratio is currently 30.99%.

About Republic Bancorp

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.