Republic Bancorp (NASDAQ:RBCAA) Sets New 52-Week High – Still a Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $85.18 and last traded at $84.7460, with a volume of 19014 shares trading hands. The stock had previously closed at $84.18.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Republic Bancorp has a consensus rating of “Moderate Buy”.

Republic Bancorp Stock Performance

The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The company’s 50-day simple moving average is $75.63 and its 200-day simple moving average is $72.26. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.17 and a beta of 0.58.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.63. Republic Bancorp had a net margin of 25.22% and a return on equity of 11.32%. The company had revenue of $114.57 million during the quarter, compared to analysts’ expectations of $96.60 million.

Republic Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.495 per share. The ex-dividend date is Thursday, June 18th. This represents a $1.98 annualized dividend and a dividend yield of 2.3%. Republic Bancorp’s dividend payout ratio is 30.56%.

Institutional Investors Weigh In On Republic Bancorp

Large investors have recently modified their holdings of the company. Formidable Asset Management LLC increased its position in shares of Republic Bancorp by 0.6% during the fourth quarter. Formidable Asset Management LLC now owns 30,776 shares of the bank’s stock worth $2,224,000 after acquiring an additional 184 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Republic Bancorp by 3.8% during the second quarter. The Manufacturers Life Insurance Company now owns 5,072 shares of the bank’s stock worth $371,000 after purchasing an additional 187 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Republic Bancorp by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank’s stock valued at $316,000 after acquiring an additional 234 shares during the last quarter. Denali Advisors LLC boosted its stake in Republic Bancorp by 0.9% in the third quarter. Denali Advisors LLC now owns 25,700 shares of the bank’s stock valued at $1,857,000 after acquiring an additional 236 shares during the last quarter. Finally, Silver Oak Securities Incorporated boosted its stake in Republic Bancorp by 9.4% in the first quarter. Silver Oak Securities Incorporated now owns 3,486 shares of the bank’s stock valued at $246,000 after acquiring an additional 300 shares during the last quarter. 24.37% of the stock is currently owned by institutional investors and hedge funds.

About Republic Bancorp

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp’s branch network spans key markets in the U.S.