Republic Bancorp (NASDAQ:RBCAA) Shares Up 2.9%

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) shot up 2.9% during trading on Wednesday . The company traded as high as $48.36 and last traded at $48.36. 1,084 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 16,528 shares. The stock had previously closed at $47.01.

Analyst Ratings Changes

Separately, Hovde Group assumed coverage on Republic Bancorp in a report on Monday, March 4th. They set an “outperform” rating on the stock.

Republic Bancorp Stock Performance

The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $955.64 million, a PE ratio of 10.28 and a beta of 0.57. The firm’s 50-day simple moving average is $49.31 and its two-hundred day simple moving average is $49.06.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Friday, January 26th. The bank reported $1.01 EPS for the quarter, beating the consensus estimate of $0.73 by $0.28. Republic Bancorp had a net margin of 21.16% and a return on equity of 10.39%. The business had revenue of $105.57 million for the quarter.

Republic Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.407 per share. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.37. This represents a $1.63 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Thursday, March 14th. Republic Bancorp’s payout ratio is currently 35.43%.

Insider Activity

In other news, Director Michael T. Rust sold 1,400 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $47.43, for a total transaction of $66,402.00. Following the transaction, the director now directly owns 20,772 shares in the company, valued at approximately $985,215.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 55.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Republic Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank lifted its position in Republic Bancorp by 6.3% during the 1st quarter. Swiss National Bank now owns 23,500 shares of the bank’s stock worth $1,056,000 after acquiring an additional 1,400 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Republic Bancorp by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 80,123 shares of the bank’s stock worth $3,601,000 after acquiring an additional 1,795 shares during the last quarter. American Century Companies Inc. lifted its position in Republic Bancorp by 26.6% during the 1st quarter. American Century Companies Inc. now owns 51,992 shares of the bank’s stock worth $2,337,000 after acquiring an additional 10,915 shares during the last quarter. MetLife Investment Management LLC lifted its position in Republic Bancorp by 49.7% during the 1st quarter. MetLife Investment Management LLC now owns 4,602 shares of the bank’s stock worth $207,000 after acquiring an additional 1,527 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Republic Bancorp by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 827,046 shares of the bank’s stock worth $37,168,000 after acquiring an additional 4,892 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.