Weiss Ratings Reaffirms “Buy (B)” Rating for Republic Bancorp (NASDAQ:RBCAA)

Republic Bancorp (NASDAQ:RBCAA)‘s stock had its “buy (b)” rating reissued by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Raymond James Financial initiated coverage on shares of Republic Bancorp in a research report on Friday, June 27th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.00.

Republic Bancorp Price Performance

RBCAA stock opened at $71.03 on Wednesday. The company has a 50 day simple moving average of $73.41 and a 200 day simple moving average of $70.78. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 11.13 and a beta of 0.53. Republic Bancorp has a 1 year low of $56.79 and a 1 year high of $80.68. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.08 and a quick ratio of 1.07.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Friday, July 18th. The bank reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.19. Republic Bancorp had a net margin of 23.98% and a return on equity of 12.23%. The business had revenue of $93.00 million during the quarter, compared to analysts’ expectations of $93.50 million.

Insiders Place Their Bets

In other news, EVP Juan Montano sold 1,223 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $92,373.19. Following the sale, the executive vice president directly owned 4,434 shares of the company’s stock, valued at approximately $334,900.02. This represents a 21.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christy Ames sold 400 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $75.79, for a total transaction of $30,316.00. Following the completion of the sale, the executive vice president directly owned 4,738 shares in the company, valued at approximately $359,093.02. This represents a 7.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 56.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Republic Bancorp by 11.7% during the first quarter. Vanguard Group Inc. now owns 575,166 shares of the bank’s stock worth $36,707,000 after acquiring an additional 60,300 shares in the last quarter. American Century Companies Inc. increased its position in Republic Bancorp by 13.8% in the 2nd quarter. American Century Companies Inc. now owns 238,979 shares of the bank’s stock valued at $17,472,000 after buying an additional 28,976 shares in the last quarter. Geode Capital Management LLC increased its position in Republic Bancorp by 9.0% in the 2nd quarter. Geode Capital Management LLC now owns 234,101 shares of the bank’s stock valued at $17,118,000 after buying an additional 19,271 shares in the last quarter. Bridgeway Capital Management LLC increased its position in Republic Bancorp by 1.1% in the 2nd quarter. Bridgeway Capital Management LLC now owns 112,875 shares of the bank’s stock valued at $8,252,000 after buying an additional 1,219 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Republic Bancorp by 651.0% in the 2nd quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock valued at $5,708,000 after buying an additional 67,681 shares in the last quarter. 24.37% of the stock is owned by institutional investors.

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.