Republic Bancorp (NASDAQ:RBCAA) Research Coverage Started at Raymond James Financial

Raymond James Financial initiated coverage on shares of Republic Bancorp (NASDAQ:RBCAA) in a research report report published on Wednesday, Marketbeat reports. The brokerage issued a hold rating on the bank’s stock.

Several other research analysts have also recently issued reports on RBCAA. Zacks Research raised Republic Bancorp to a “hold” rating in a research report on Monday, July 13th. Hovde Group upped their price target on Republic Bancorp from $80.00 to $98.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Republic Bancorp presently has a consensus rating of “Hold” and an average price target of $98.00.

Republic Bancorp Price Performance

Shares of NASDAQ RBCAA opened at $96.80 on Wednesday. Republic Bancorp has a fifty-two week low of $63.97 and a fifty-two week high of $102.22. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 14.78 and a beta of 0.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.02. The firm’s 50-day simple moving average is $94.35 and its 200 day simple moving average is $82.23.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings results on Friday, July 24th. The bank reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.13. The business had revenue of $101.27 million during the quarter, compared to the consensus estimate of $97.60 million. Republic Bancorp had a return on equity of 11.20% and a net margin of 25.38%. As a group, research analysts anticipate that Republic Bancorp will post 6.65 earnings per share for the current fiscal year.

Republic Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 18th will be given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 18th. Republic Bancorp’s dividend payout ratio is presently 30.23%.

Insider Activity

In other news, EVP Christy Ames sold 340 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total value of $29,886.00. Following the transaction, the executive vice president owned 6,145 shares in the company, valued at $540,145.50. The trade was a 5.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Anthony T. Powell sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total value of $250,620.00. Following the completion of the transaction, the executive vice president directly owned 24,691 shares of the company’s stock, valued at approximately $2,062,686.14. This represents a 10.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 55.90% of the company’s stock.

Institutional Trading of Republic Bancorp

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

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.