Republic Bancorp, Inc. (RBCAA) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) from a hold rating to a buy rating in a report issued on Saturday. The brokerage currently has $39.00 price target on the bank’s stock.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Separately, BidaskClub downgraded Republic Bancorp from a sell rating to a strong sell rating in a report on Tuesday, August 8th.
Shares of Republic Bancorp (RBCAA) opened at 35.51 on Friday. The company has a market capitalization of $740.67 million, a P/E ratio of 14.92 and a beta of 0.49. The firm has a 50-day moving average price of $34.94 and a 200 day moving average price of $34.96. Republic Bancorp has a 12-month low of $28.56 and a 12-month high of $40.74.
Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.48. Republic Bancorp had a return on equity of 8.14% and a net margin of 19.33%. The business had revenue of $56.06 million for the quarter. On average, equities research analysts predict that Republic Bancorp will post $2.34 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 15th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.48%. Republic Bancorp’s dividend payout ratio is presently 36.82%.
In other news, EVP Steven E. Deweese sold 1,115 shares of Republic Bancorp stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $35.49, for a total value of $39,571.35. Following the transaction, the executive vice president now directly owns 41,630 shares in the company, valued at approximately $1,477,448.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven E. Deweese sold 1,000 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $34.50, for a total value of $34,500.00. Following the transaction, the executive vice president now owns 42,230 shares in the company, valued at $1,456,935. The disclosure for this sale can be found here. Company insiders own 52.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Globeflex Capital L P purchased a new position in Republic Bancorp during the 1st quarter worth $190,000. American International Group Inc. grew its stake in Republic Bancorp by 7.1% during the 1st quarter. American International Group Inc. now owns 5,947 shares of the bank’s stock worth $205,000 after buying an additional 392 shares during the last quarter. Bank of America Corp DE grew its stake in Republic Bancorp by 0.4% during the 1st quarter. Bank of America Corp DE now owns 93,652 shares of the bank’s stock worth $3,221,000 after buying an additional 414 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Republic Bancorp by 24.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 25,163 shares of the bank’s stock worth $865,000 after buying an additional 4,892 shares during the last quarter. Finally, Formidable Asset Management LLC grew its stake in Republic Bancorp by 1.1% during the 1st quarter. Formidable Asset Management LLC now owns 24,585 shares of the bank’s stock worth $885,000 after buying an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 24.29% of the company’s stock.
Republic Bancorp Company Profile
Republic Bancorp, Inc 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. The Company operates through four segments: Traditional Banking, which provides traditional banking products to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the United States through mortgage warehouse lines of credit; 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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