JPMorgan Chase & Co. Purchases 1,515 Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA)

JPMorgan Chase & Co. increased its holdings in Republic Bancorp, Inc. (NASDAQ:RBCAA) by 10.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,635 shares of the bank’s stock after buying an additional 1,515 shares during the period. JPMorgan Chase & Co. owned 0.09% of Republic Bancorp worth $1,086,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Republic Bancorp by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock valued at $14,345,000 after buying an additional 9,430 shares in the last quarter. Barclays PLC increased its stake in Republic Bancorp by 338.3% in the third quarter. Barclays PLC now owns 12,736 shares of the bank’s stock valued at $831,000 after acquiring an additional 9,830 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Republic Bancorp by 50.1% in the third quarter. Los Angeles Capital Management LLC now owns 31,822 shares of the bank’s stock valued at $2,078,000 after acquiring an additional 10,617 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Republic Bancorp during the third quarter valued at about $224,000. Finally, State Street Corp lifted its stake in Republic Bancorp by 2.2% during the third quarter. State Street Corp now owns 210,298 shares of the bank’s stock worth $13,816,000 after purchasing an additional 4,429 shares during the last quarter. Institutional investors own 24.37% of the company’s stock.

Insider Activity

In other Republic Bancorp news, Director Heather V. Howell sold 1,496 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $75.63, for a total transaction of $113,142.48. Following the completion of the sale, the director now owns 7,491 shares of the company’s stock, valued at $566,544.33. This represents a 16.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 55.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Republic Bancorp Stock Down 2.4 %

Shares of NASDAQ RBCAA opened at $66.99 on Friday. The stock has a market capitalization of $1.30 billion, a P/E ratio of 12.74 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11. Republic Bancorp, Inc. has a one year low of $46.55 and a one year high of $80.68. The firm’s 50 day simple moving average is $72.28 and its two-hundred day simple moving average is $66.94.

Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, January 24th. The bank reported $0.98 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%.

Republic Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be issued a $0.451 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.80 annualized dividend and a dividend yield of 2.69%. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.41. Republic Bancorp’s payout ratio is currently 30.99%.

Republic Bancorp 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.