Republic Bancorp Inc. (RBCAA) Stock Rating Upgraded by Zacks Investment Research
Republic Bancorp Inc. (NASDAQ:RBCAA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $40.00 price objective on the stock. Zacks Investment Research’s price target suggests a potential upside of 14.29% from the stock’s previous close.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Republic Bancorp (NASDAQ:RBCAA) opened at 35.00 on Wednesday. Republic Bancorp has a one year low of $23.00 and a one year high of $36.70. The company has a market cap of $730.17 million, a PE ratio of 16.93 and a beta of 0.58. The firm has a 50-day moving average of $31.72 and a 200-day moving average of $29.82.
Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Friday, October 21st. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.09. Republic Bancorp had a net margin of 19.72% and a return on equity of 7.33%. On average, analysts predict that Republic Bancorp will post $2.20 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 20th. Investors of record on Friday, December 16th will be issued a $0.209 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $0.84 annualized dividend and a yield of 2.39%. Republic Bancorp’s dividend payout ratio (DPR) is presently 40.38%.
Several hedge funds and other institutional investors have recently bought and sold shares of RBCAA. KBC Group NV increased 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 valued at $101,000 after buying an additional 2,544 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Republic Bancorp during the third quarter valued at about $101,000. Panagora Asset Management Inc. increased 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 valued at $120,000 after buying an additional 1,939 shares during the last quarter. SG Americas Securities LLC bought a new position in Republic Bancorp during the third quarter valued at about $135,000. Finally, BlackRock Inc. increased its position in Republic Bancorp by 620.7% in the second quarter. BlackRock Inc. now owns 6,962 shares of the company’s stock valued at $192,000 after buying an additional 5,996 shares during the last quarter. Institutional investors own 24.59% of the company’s stock.
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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