Baron Silver Stevens Financial Advisors LLC Takes $280,000 Position in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Baron Silver Stevens Financial Advisors LLC purchased a new position in Republic Bancorp, Inc. (NASDAQ:RBCAA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,014 shares of the bank’s stock, valued at approximately $280,000.

Several other institutional investors have also recently added to or reduced their stakes in RBCAA. SG Americas Securities LLC acquired a new position in shares of Republic Bancorp in the 3rd quarter worth approximately $205,000. SeaCrest Wealth Management LLC bought a new position in Republic Bancorp during the third quarter worth $208,000. The Manufacturers Life Insurance Company bought a new position in Republic Bancorp during the third quarter worth $224,000. Hohimer Wealth Management LLC acquired a new position in Republic Bancorp in the third quarter worth $227,000. Finally, Creative Planning bought a new stake in Republic Bancorp during the third quarter valued at $261,000. 24.37% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Heather V. Howell sold 1,496 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $75.63, for a total value of $113,142.48. Following the completion of the transaction, the director now directly owns 7,491 shares of the company’s stock, valued at $566,544.33. This represents a 16.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 55.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Republic Bancorp Stock Down 1.8 %

NASDAQ:RBCAA opened at $67.91 on Thursday. 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 stock has a 50 day moving average of $72.44 and a 200-day moving average of $66.93. The firm has a market capitalization of $1.32 billion, a PE ratio of 12.91 and a beta of 0.56. Republic Bancorp, Inc. has a 52 week low of $46.55 and a 52 week high of $80.68.

Republic Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors 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. This represents a $1.80 dividend on an annualized basis and a yield of 2.66%. Republic Bancorp’s dividend payout ratio is presently 30.99%.

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.