Republic Bancorp, Inc. (NASDAQ:RBCAA) Stake Decreased by Quent Capital LLC

Quent Capital LLC cut its holdings in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 25.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,011 shares of the bank’s stock after selling 350 shares during the period. Quent Capital LLC’s holdings in Republic Bancorp were worth $65,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New York State Teachers Retirement System increased its stake in Republic Bancorp by 659.0% during the 4th quarter. New York State Teachers Retirement System now owns 759 shares of the bank’s stock valued at $53,000 after buying an additional 659 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Republic Bancorp during the fourth quarter worth approximately $70,000. Tower Research Capital LLC TRC lifted its position in Republic Bancorp by 206.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank’s stock worth $77,000 after purchasing an additional 742 shares during the period. Sei Investments Co. bought a new position in Republic Bancorp during the 4th quarter valued at $208,000. Finally, Lazard Asset Management LLC increased its position in shares of Republic Bancorp by 41.7% during the 4th quarter. Lazard Asset Management LLC now owns 3,271 shares of the bank’s stock valued at $228,000 after purchasing an additional 962 shares during the period. 24.37% of the stock is owned by institutional investors.

Republic Bancorp Stock Performance

NASDAQ:RBCAA opened at $68.94 on Friday. The company has a 50-day moving average of $67.12 and a 200-day moving average of $68.66. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 13.18 and a beta of 0.51. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Republic Bancorp, Inc. has a twelve month low of $48.67 and a twelve month high of $80.68.

Republic Bancorp (NASDAQ:RBCAA) last issued its earnings results on Thursday, April 24th. The bank reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.56. The firm had revenue of $135.84 million during the quarter, compared to analysts’ expectations of $126.90 million. Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Republic Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.451 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Friday, June 20th. Republic Bancorp’s dividend payout ratio is presently 29.65%.

Analysts Set New Price Targets

Separately, Hovde Group raised their target price on Republic Bancorp from $64.00 to $69.00 and gave the company a “market perform” rating in a research note on Friday, April 25th.

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.