Republic Bancorp (NASDAQ:RBCAA) Trading 2% Higher – Here’s Why

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares traded up 2% on Friday . The company traded as high as $73.39 and last traded at $73.39. 1,789 shares were traded during mid-day trading, a decline of 90% from the average session volume of 17,638 shares. The stock had previously closed at $71.93.

Wall Street Analyst Weigh In

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

Republic Bancorp Stock Performance

The company has a market capitalization of $1.37 billion, a P/E ratio of 13.44 and a beta of 0.54. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average is $73.51 and its two-hundred day moving average is $64.83.

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

Republic Bancorp Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.30%. Republic Bancorp’s dividend payout ratio (DPR) is 30.80%.

Institutional Investors Weigh In On Republic Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Republic Bancorp by 10.0% in the third quarter. JPMorgan Chase & Co. now owns 16,635 shares of the bank’s stock worth $1,086,000 after buying an additional 1,515 shares during the period. Barclays PLC grew its holdings in Republic Bancorp by 338.3% in the 3rd quarter. Barclays PLC now owns 12,736 shares of the bank’s stock worth $831,000 after acquiring an additional 9,830 shares during the last quarter. Hohimer Wealth Management LLC purchased a new position in shares of Republic Bancorp in the third quarter valued at about $227,000. Geode Capital Management LLC raised its stake in shares of Republic Bancorp by 4.5% during the third quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock valued at $14,345,000 after acquiring an additional 9,430 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Republic Bancorp by 2.2% during the third quarter. State Street Corp now owns 210,298 shares of the bank’s stock valued at $13,816,000 after acquiring an additional 4,429 shares during the last quarter. Institutional investors own 24.37% of the company’s stock.

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.