Republic Bancorp Inc. (RBCAA) Rating Lowered to Hold at Zacks Investment Research
Republic Bancorp Inc. (NASDAQ:RBCAA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Republic Bancorp (NASDAQ:RBCAA) remained flat at $31.25 on Tuesday. The company had a trading volume of 192 shares. The firm’s 50 day moving average is $31.21 and its 200 day moving average is $28.71. Republic Bancorp has a 12 month low of $23.00 and a 12 month high of $33.26. The firm has a market capitalization of $651.94 million, a PE ratio of 16.74 and a beta of 0.72.
Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. Republic Bancorp had a net margin of 18.78% and a return on equity of 6.70%. Equities analysts predict that Republic Bancorp will post $2.04 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 16th will be given a dividend of $0.209 per share. The ex-dividend date is Wednesday, September 14th. This represents a $0.84 annualized dividend and a yield of 2.68%. Republic Bancorp’s dividend payout ratio is 44.68%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV boosted its position in Republic Bancorp by 225.7% in the second quarter. KBC Group NV now owns 3,671 shares of the company’s stock worth $101,000 after buying an additional 2,544 shares during the period. Panagora Asset Management Inc. boosted its position in Republic Bancorp by 80.6% in the second quarter. Panagora Asset Management Inc. now owns 4,345 shares of the company’s stock worth $120,000 after buying an additional 1,939 shares during the period. Huntington Asset Advisors Inc. bought a new position in Republic Bancorp during the first quarter worth approximately $161,000. BlackRock Inc. boosted its position in Republic Bancorp by 620.7% in the second quarter. BlackRock Inc. now owns 6,962 shares of the company’s stock worth $192,000 after buying an additional 5,996 shares during the period. Finally, BlackRock Advisors LLC boosted its position in Republic Bancorp by 20.5% in the second quarter. BlackRock Advisors LLC now owns 7,970 shares of the company’s stock worth $220,000 after buying an additional 1,354 shares during the period. 24.31% of the stock is owned by hedge funds and other institutional investors.
About Republic Bancorp
Republic Bancorp, Inc (Republic) is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc (the Captive). The Bank is a Kentucky-based, state chartered non-member financial institution. The Captive is an insurance subsidiary of the Company. It operates in four segments: Traditional Banking, which provides traditional banking products primarily to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the Nation; Mortgage Banking, which originates, sells and services long-term, single family, first lien residential real estate loans, and Republic Processing Group (RPG), which facilitates the receipt and payment of federal and state tax refund products.
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