Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase – Still a Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares saw an uptick in trading volume on Thursday . 18,284 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 18,154 shares.The stock last traded at $65.38 and had previously closed at $64.48.

Analyst Ratings Changes

Separately, Hovde Group decreased their price target on Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating for the company in a report on Monday, January 27th.

Republic Bancorp Trading Up 0.5 %

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.51 and a beta of 0.46. The business’s 50 day moving average price is $66.30 and its 200-day moving average price is $68.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11.

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 10.60% and a net margin of 20.05%.

Republic Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be given a dividend of $0.451 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.76%. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, March 21st. Republic Bancorp’s dividend payout ratio (DPR) is presently 34.42%.

Insider Transactions at Republic Bancorp

In other Republic Bancorp news, Director David P. Feaster sold 1,406 shares of Republic Bancorp stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total transaction of $93,386.52. Following the completion of the transaction, the director now owns 4,303 shares in the company, valued at approximately $285,805.26. The trade was a 24.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John T. Rippy sold 3,082 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $65.99, for a total transaction of $203,381.18. Following the completion of the sale, the executive vice president now owns 23,105 shares in the company, valued at $1,524,698.95. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 55.50% of the company’s stock.

Institutional Trading of Republic Bancorp

Large investors have recently made changes to their positions in the stock. New York State Teachers Retirement System boosted its stake in shares of Republic Bancorp by 659.0% during the 4th quarter. New York State Teachers Retirement System now owns 759 shares of the bank’s stock worth $53,000 after purchasing an additional 659 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Republic Bancorp during the fourth quarter valued at approximately $70,000. Tower Research Capital LLC TRC boosted its position in Republic Bancorp by 206.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank’s stock worth $77,000 after acquiring an additional 742 shares during the last quarter. Sei Investments Co. purchased a new stake in Republic Bancorp in the 4th quarter worth approximately $208,000. Finally, Lazard Asset Management LLC raised its holdings in Republic Bancorp by 41.7% in the 4th quarter. Lazard Asset Management LLC now owns 3,271 shares of the bank’s stock valued at $228,000 after acquiring an additional 962 shares during the last quarter. Institutional investors and hedge funds own 24.37% of the company’s stock.

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.