State Street Corp Buys 4,429 Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA)

State Street Corp lifted its stake in Republic Bancorp, Inc. (NASDAQ:RBCAA) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,298 shares of the bank’s stock after acquiring an additional 4,429 shares during the period. State Street Corp owned approximately 1.08% of Republic Bancorp worth $13,816,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerity Partners LLC lifted its stake in Republic Bancorp by 1.4% in the third quarter. Cerity Partners LLC now owns 12,501 shares of the bank’s stock worth $816,000 after purchasing an additional 167 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Republic Bancorp by 2.0% during the third quarter. Empowered Funds LLC now owns 61,825 shares of the bank’s stock valued at $4,037,000 after purchasing an additional 1,204 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Republic Bancorp by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,927 shares of the bank’s stock worth $4,124,000 after purchasing an additional 1,226 shares during the last quarter. Innealta Capital LLC purchased a new stake in Republic Bancorp during the 2nd quarter valued at $67,000. Finally, Acadian Asset Management LLC purchased a new stake in Republic Bancorp in the second quarter worth approximately $87,000. Institutional investors own 24.37% of the company’s stock.

Republic Bancorp Price Performance

RBCAA opened at $71.59 on Wednesday. The business’s fifty day simple moving average is $73.18 and its 200-day simple moving average is $64.33. Republic Bancorp, Inc. has a 12-month low of $46.55 and a 12-month high of $80.68. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 13.61 and a beta of 0.54. 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 (NASDAQ:RBCAA) last released its quarterly earnings results on Friday, October 18th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.16. Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%. The business had revenue of $118.36 million for the quarter.

Republic Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.407 per share. 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 payout ratio is currently 30.80%.

Analyst Upgrades and Downgrades

Separately, Hovde Group cut shares of 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 note on Wednesday, November 13th.

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.