Zacks Investment Research Downgrades Republic Bancorp, Inc. (RBCAA) to Hold
Republic Bancorp, Inc. (NASDAQ:RBCAA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Separately, BidaskClub downgraded shares of Republic Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th.
Republic Bancorp (NASDAQ:RBCAA) opened at 35.60 on Friday. Republic Bancorp has a 12 month low of $28.56 and a 12 month high of $40.74. The stock’s 50 day moving average is $34.95 and its 200-day moving average is $34.98. The firm has a market capitalization of $742.54 million, a price-to-earnings ratio of 14.96 and a beta of 0.49.
Republic Bancorp (NASDAQ:RBCAA) last posted its earnings results on Friday, July 21st. The bank reported $0.48 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.48. Republic Bancorp had a net margin of 19.33% and a return on equity of 8.14%. The firm had revenue of $56.06 million for the quarter. Equities analysts anticipate that Republic Bancorp will post $2.34 earnings per share for the current fiscal year.
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In related news, EVP Steven E. Deweese sold 1,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $34.50, for a total transaction of $34,500.00. Following the transaction, the executive vice president now owns 42,230 shares in the company, valued at approximately $1,456,935. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven E. Deweese sold 1,115 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $35.49, for a total transaction of $39,571.35. Following the transaction, the executive vice president now owns 41,630 shares in the company, valued at approximately $1,477,448.70. The disclosure for this sale can be found here. 52.30% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Republic Bancorp during the second quarter worth $165,000. Globeflex Capital L P acquired a new position in Republic Bancorp during the first quarter worth $190,000. American International Group Inc. raised its holdings in Republic Bancorp by 7.1% during the first 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. TFS Capital LLC raised its holdings in Republic Bancorp by 46.1% during the first quarter. TFS Capital LLC now owns 7,599 shares of the bank’s stock worth $261,000 after buying an additional 2,398 shares during the last quarter. Finally, KBC Group NV raised its holdings in Republic Bancorp by 98.3% during the first quarter. KBC Group NV now owns 7,914 shares of the bank’s stock worth $272,000 after buying an additional 3,924 shares during the last quarter. 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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