Republic Bancorp (NASDAQ:RBCAA) Sets New 1-Year High – What’s Next?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares reached a new 52-week high on Thursday . The stock traded as high as $88.54 and last traded at $87.73, with a volume of 75775 shares. The stock had previously closed at $86.17.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Republic Bancorp Trading Up 1.8%

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 business’s 50-day moving average is $76.95 and its two-hundred day moving average is $72.83. The firm has a market cap of $1.72 billion, a P/E ratio of 13.54 and a beta of 0.58.

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

Republic Bancorp Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new position in Republic Bancorp during the 3rd quarter valued at about $27,000. Russell Investments Group Ltd. boosted its stake in Republic Bancorp by 2,561.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock valued at $60,000 after purchasing an additional 794 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in Republic Bancorp by 541.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock valued at $121,000 after purchasing an additional 1,483 shares during the period. Raymond James Financial Inc. acquired a new position in Republic Bancorp during the 2nd quarter valued at about $121,000. Finally, BNP Paribas Financial Markets boosted its stake in Republic Bancorp by 46.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock valued at $138,000 after purchasing an additional 598 shares during the period. 24.37% of the stock is owned by institutional investors and hedge funds.

Republic Bancorp Company Profile

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.