Charles Schwab Investment Management Inc. Has $6.57 Million Stake in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Charles Schwab Investment Management Inc. lessened its stake in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 6.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 93,993 shares of the bank’s stock after selling 6,801 shares during the period. Charles Schwab Investment Management Inc. owned 0.48% of Republic Bancorp worth $6,567,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Meridian Wealth Management LLC acquired a new stake in Republic Bancorp in the third quarter valued at approximately $391,000. Cerity Partners LLC grew its position in 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 purchasing an additional 167 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Republic Bancorp during the 3rd quarter valued at $224,000. State Street Corp increased its stake in Republic Bancorp by 2.2% during the 3rd quarter. State Street Corp now owns 210,298 shares of the bank’s stock valued at $13,816,000 after purchasing an additional 4,429 shares in the last quarter. Finally, Barclays PLC raised its holdings in Republic Bancorp by 338.3% during the third quarter. Barclays PLC now owns 12,736 shares of the bank’s stock worth $831,000 after buying an additional 9,830 shares during the last quarter. 24.37% of the stock is owned by institutional investors.

Republic Bancorp Trading Up 2.8 %

Shares of RBCAA stock opened at $65.63 on Tuesday. 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 firm has a market cap of $1.28 billion, a P/E ratio of 12.55 and a beta of 0.46. The company has a 50 day moving average of $66.41 and a 200-day moving average of $68.56. Republic Bancorp, Inc. has a 12-month low of $46.81 and a 12-month high of $80.68.

Republic Bancorp (NASDAQ:RBCAA) last announced 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 business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be given a $0.451 dividend. The ex-dividend date is Friday, March 21st. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a dividend yield of 2.75%. Republic Bancorp’s payout ratio is 34.42%.

Wall Street Analyst Weigh In

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

Insider Activity

In other Republic Bancorp news, Director David P. Feaster sold 1,406 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total value of $93,386.52. Following the completion of the transaction, the director now directly owns 4,303 shares of the company’s stock, valued at $285,805.26. This trade represents a 24.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John T. Rippy sold 3,082 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total value of $203,381.18. Following the completion of the sale, the executive vice president now owns 23,105 shares in the company, valued at $1,524,698.95. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. 55.50% of the stock is owned by company insiders.

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.