New York State Teachers Retirement System Purchases 659 Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA)

New York State Teachers Retirement System raised its position in Republic Bancorp, Inc. (NASDAQ:RBCAA) by 659.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 759 shares of the bank’s stock after acquiring an additional 659 shares during the quarter. New York State Teachers Retirement System’s holdings in Republic Bancorp were worth $53,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in shares of Republic Bancorp during the 3rd quarter worth approximately $224,000. Hohimer Wealth Management LLC acquired a new position in shares of Republic Bancorp in the third quarter valued at $227,000. Creative Planning acquired a new position in shares of Republic Bancorp in the third quarter valued at $261,000. SG Americas Securities LLC raised its position in shares of Republic Bancorp by 22.8% in the fourth quarter. SG Americas Securities LLC now owns 3,851 shares of the bank’s stock valued at $269,000 after purchasing an additional 714 shares during the period. Finally, Baron Silver Stevens Financial Advisors LLC acquired a new stake in shares of Republic Bancorp during the 4th quarter worth about $280,000. Institutional investors own 24.37% of the company’s stock.

Insider Buying and Selling at Republic Bancorp

In related news, EVP John T. Rippy sold 3,082 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $65.99, for a total transaction of $203,381.18. Following the completion of the sale, the executive vice president now owns 23,105 shares of the company’s stock, valued at $1,524,698.95. This represents a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David P. Feaster sold 1,406 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total transaction of $93,386.52. Following the sale, the director now owns 4,303 shares in the company, valued at $285,805.26. The trade was a 24.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 55.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group lowered their price target on shares of Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, January 27th.

Republic Bancorp Price Performance

Shares of NASDAQ RBCAA opened at $65.18 on Tuesday. The firm has a market cap of $1.27 billion, a P/E ratio of 12.46 and a beta of 0.54. The business’s 50 day moving average is $67.98 and its 200-day moving average is $67.91. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Republic Bancorp, Inc. has a 1-year low of $46.55 and a 1-year high of $80.68.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Friday, January 24th. The bank reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%.

Republic Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be paid a $0.451 dividend. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. This represents a $1.80 annualized dividend and a yield of 2.77%. Republic Bancorp’s payout ratio is 31.17%.

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.