Hovde Group Cuts Republic Bancorp (NASDAQ:RBCAA) Price Target to $70.00

Republic Bancorp (NASDAQ:RBCAA) had its price objective cut by Hovde Group from $72.00 to $70.00 in a report issued on Monday morning, MarketBeat Ratings reports. They currently have a market perform rating on the bank’s stock.

Republic Bancorp Stock Down 0.1 %

Shares of NASDAQ:RBCAA opened at $66.80 on Monday. Republic Bancorp has a 1-year low of $46.55 and a 1-year high of $80.68. The company’s fifty day moving average is $71.77 and its two-hundred day moving average is $67.39. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 12.70 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA) last issued 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 return on equity of 10.79% and a net margin of 20.65%.

Republic Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, March 21st will be issued a $0.451 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.70%. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. Republic Bancorp’s dividend payout ratio is 30.99%.

Insider Buying and Selling at Republic Bancorp

In other Republic Bancorp news, Director Heather V. Howell sold 1,496 shares of the company’s 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 sale, the director now directly owns 7,491 shares in the company, valued at $566,544.33. This represents a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 55.50% of the stock is owned by company insiders.

Institutional Trading of Republic Bancorp

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

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.