Rhumbline Advisers Grows Stock Position in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Rhumbline Advisers increased its holdings in Republic Bancorp, Inc. (NASDAQ:RBCAA) by 4.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 14,238 shares of the bank’s stock after acquiring an additional 567 shares during the period. Rhumbline Advisers owned approximately 0.07% of Republic Bancorp worth $995,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. New York State Teachers Retirement System increased its position 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 valued at $53,000 after acquiring an additional 659 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Republic Bancorp during the 3rd quarter worth approximately $224,000. Hohimer Wealth Management LLC acquired a new stake in Republic Bancorp in the 3rd quarter valued at approximately $227,000. Creative Planning purchased a new stake in Republic Bancorp in the third quarter valued at approximately $261,000. Finally, SG Americas Securities LLC lifted its stake in Republic Bancorp by 22.8% during the fourth quarter. SG Americas Securities LLC now owns 3,851 shares of the bank’s stock worth $269,000 after purchasing an additional 714 shares in the last quarter. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value of $93,386.52. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John T. Rippy sold 3,082 shares of Republic Bancorp 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 completion of the sale, the executive vice president now owns 23,105 shares in the company, valued at approximately $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. 55.50% of the stock is owned by insiders.

Republic Bancorp Trading Up 0.5 %

Shares of Republic Bancorp stock opened at $65.78 on Friday. 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 $67.18 and a 200-day simple moving average of $68.27. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 12.58 and a beta of 0.46. Republic Bancorp, Inc. has a 12-month low of $46.55 and a 12-month high of $80.68.

Republic Bancorp (NASDAQ:RBCAA) last announced its earnings results on Friday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business also recently disclosed 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. The ex-dividend date is Friday, March 21st. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.41. This represents a $1.80 annualized dividend and a yield of 2.74%. Republic Bancorp’s dividend payout ratio is currently 34.42%.

Analyst Ratings Changes

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

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.