Bank of New York Mellon Corp Boosts Stock Holdings in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Bank of New York Mellon Corp grew its stake in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 72,883 shares of the bank’s stock after buying an additional 1,932 shares during the period. Bank of New York Mellon Corp owned 0.37% of Republic Bancorp worth $5,092,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC increased its position in Republic Bancorp by 1.4% during the 3rd quarter. Cerity Partners LLC now owns 12,501 shares of the bank’s stock worth $816,000 after purchasing an additional 167 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Republic Bancorp by 4.1% during the fourth quarter. Rhumbline Advisers now owns 14,238 shares of the bank’s stock worth $995,000 after purchasing an additional 567 shares in the last quarter. New York State Teachers Retirement System lifted its stake in shares of Republic Bancorp by 659.0% during the fourth quarter. New York State Teachers Retirement System now owns 759 shares of the bank’s stock worth $53,000 after purchasing an additional 659 shares in the last quarter. SG Americas Securities LLC boosted 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 worth $269,000 after buying an additional 714 shares during the period. Finally, Empowered Funds LLC grew its stake in shares of Republic Bancorp by 2.0% in the third 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 in the last quarter. 24.37% of the stock is owned by hedge funds and other institutional investors.

Republic Bancorp Price Performance

RBCAA opened at $65.08 on Tuesday. Republic Bancorp, Inc. has a twelve month low of $46.55 and a twelve month high of $80.68. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 12.44 and a beta of 0.46. 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 company has a fifty day simple moving average of $66.51 and a 200 day simple moving average of $68.49.

Republic Bancorp (NASDAQ:RBCAA) last announced its earnings results 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 net margin of 20.05% and a return on equity of 10.60%.

Republic Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be given a $0.451 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.77%. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. Republic Bancorp’s dividend payout ratio is presently 34.42%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Republic Bancorp news, Director David P. Feaster sold 1,406 shares of the company’s stock in a transaction that occurred on 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. This represents a 24.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John T. Rippy sold 3,082 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $65.99, for a total value of $203,381.18. Following the sale, the executive vice president now directly owns 23,105 shares in the company, valued at approximately $1,524,698.95. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 55.50% of the company’s stock.

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.