Republic Bancorp (NASDAQ:RBCAA) Sees Strong Trading Volume – Should You Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) saw strong trading volume on Friday . 10,385 shares were traded during mid-day trading, a decline of 41% from the previous session’s volume of 17,599 shares.The stock last traded at $69.31 and had previously closed at $70.42.

Analyst Upgrades and Downgrades

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

Republic Bancorp Trading Up 1.2 %

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 business has a 50 day moving average of $73.07 and a 200-day moving average of $64.10. The stock has a market cap of $1.39 billion, a PE ratio of 13.63 and a beta of 0.54.

Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, October 18th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.16. The company had revenue of $118.36 million for the quarter. Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%.

Republic Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 20th will be given a $0.407 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.27%. Republic Bancorp’s dividend payout ratio is currently 30.80%.

Institutional Trading of Republic Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its holdings in shares of Republic Bancorp by 338.3% during 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 period. Hohimer Wealth Management LLC acquired a new position in Republic Bancorp in the 3rd quarter valued at $227,000. Geode Capital Management LLC increased its position in Republic Bancorp by 4.5% during the third quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock worth $14,345,000 after acquiring an additional 9,430 shares during the period. State Street Corp increased its holdings in shares of 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 period. Finally, The Manufacturers Life Insurance Company bought a new position in Republic Bancorp during the 3rd quarter worth $224,000. 24.37% of the stock is currently owned by institutional investors and hedge funds.

About Republic Bancorp

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.