Teacher Retirement System of Texas Reduces Position in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Teacher Retirement System of Texas decreased its position in Republic Bancorp, Inc. (NASDAQ:RBCAA) by 14.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,271 shares of the bank’s stock after selling 1,353 shares during the period. Teacher Retirement System of Texas’ holdings in Republic Bancorp were worth $578,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System lifted its holdings in Republic Bancorp by 659.0% in the 4th quarter. New York State Teachers Retirement System now owns 759 shares of the bank’s stock worth $53,000 after buying an additional 659 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Republic Bancorp in the third quarter worth $224,000. Hohimer Wealth Management LLC bought a new stake in Republic Bancorp in the third quarter valued at $227,000. SG Americas Securities LLC boosted its holdings in 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 acquiring an additional 714 shares in the last quarter. Finally, Baron Silver Stevens Financial Advisors LLC purchased a new position in Republic Bancorp during the 4th quarter valued at $280,000. 24.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Republic Bancorp Trading Down 2.6 %

RBCAA opened at $64.45 on Monday. The stock has a market cap of $1.26 billion, a PE ratio of 12.32 and a beta of 0.46. 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 business has a 50 day moving average of $66.19 and a 200-day moving average of $68.65. Republic Bancorp, Inc. has a 52 week low of $46.81 and a 52 week high of $80.68.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings data 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 20.05% 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 paid a dividend of $0.451 per share. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.80%. Republic Bancorp’s dividend payout ratio (DPR) is currently 34.42%.

Insider Activity

In related news, Director David P. Feaster sold 1,406 shares of the firm’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 completion of the transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John T. Rippy sold 3,082 shares of the business’s 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 directly owns 23,105 shares in the company, valued at $1,524,698.95. This trade represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 56.40% 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.