Republic Bancorp (NASDAQ:RBCAA) Posts Earnings Results, Beats Estimates By $0.19 EPS

Republic Bancorp (NASDAQ:RBCAA) issued its quarterly earnings data on Friday. The bank reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.19, Zacks reports. The firm had revenue of $93.00 million during the quarter, compared to analysts’ expectations of $93.50 million. Republic Bancorp had a net margin of 22.94% and a return on equity of 11.92%.

Republic Bancorp Price Performance

RBCAA opened at $75.68 on Friday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.47 and a beta of 0.52. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $72.00 and a 200-day moving average price of $68.08. Republic Bancorp has a twelve month low of $54.88 and a twelve month high of $80.68.

Republic Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, September 19th will be paid a $0.451 dividend. The ex-dividend date is Friday, September 19th. This represents a $1.80 annualized dividend and a dividend yield of 2.38%. Republic Bancorp’s payout ratio is 29.65%.

Insider Buying and Selling at Republic Bancorp

In related news, EVP Christy Ames sold 700 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $70.50, for a total transaction of $49,350.00. Following the completion of the transaction, the executive vice president owned 5,044 shares of the company’s stock, valued at approximately $355,602. The trade was a 12.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 56.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Republic Bancorp

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in Republic Bancorp in the 1st quarter worth approximately $716,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Republic Bancorp by 5.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank’s stock worth $316,000 after buying an additional 234 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Republic Bancorp by 199.8% in the 1st quarter. AQR Capital Management LLC now owns 11,649 shares of the bank’s stock worth $743,000 after buying an additional 7,764 shares in the last quarter. Hedge funds and other institutional investors own 24.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RBCAA shares. Raymond James Financial started coverage on shares of Republic Bancorp in a research report on Friday, June 27th. They set a “market perform” rating on the stock. Hovde Group raised their price target on shares of Republic Bancorp from $64.00 to $69.00 and gave the company a “market perform” rating in a research report 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.