Brandywine Global Investment Management LLC Has $6.89 Million Position in Republic Bancorp, Inc. (RBCAA)
Brandywine Global Investment Management LLC reduced its position in Republic Bancorp, Inc. (NASDAQ:RBCAA) by 8.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 193,075 shares of the bank’s stock after selling 18,109 shares during the period. Brandywine Global Investment Management LLC owned about 0.93% of Republic Bancorp worth $6,893,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in RBCAA. SG Americas Securities LLC purchased a new stake in Republic Bancorp during the 2nd quarter valued at $165,000. Globeflex Capital L P purchased a new position in shares of Republic Bancorp in the first quarter worth $190,000. American International Group Inc. raised its stake in shares of Republic Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 5,947 shares of the bank’s stock worth $205,000 after purchasing an additional 392 shares during the last quarter. KBC Group NV lifted its holdings in shares of Republic Bancorp by 98.3% during the first quarter. KBC Group NV now owns 7,914 shares of the bank’s stock valued at $272,000 after purchasing an additional 3,924 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Republic Bancorp by 24.3% during the second quarter. Wells Fargo & Company MN now owns 9,785 shares of the bank’s stock valued at $350,000 after purchasing an additional 1,911 shares in the last quarter. Institutional investors own 24.29% of the company’s stock.
Shares of Republic Bancorp, Inc. (RBCAA) opened at 39.12 on Wednesday. The firm’s 50-day moving average is $35.98 and its 200-day moving average is $35.29. The stock has a market capitalization of $815.96 million, a price-to-earnings ratio of 16.44 and a beta of 0.52. Republic Bancorp, Inc. has a 52 week low of $28.56 and a 52 week high of $40.74.
Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ 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 during the quarter. Analysts forecast that Republic Bancorp, Inc. will post $2.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, September 14th. Republic Bancorp’s dividend payout ratio is currently 36.82%.
In other news, EVP Steven E. Deweese sold 1,115 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $35.49, for a total transaction of $39,571.35. Following the sale, the executive vice president now directly owns 41,630 shares in the company, valued at approximately $1,477,448.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven E. Deweese sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $34.50, for a total value of $34,500.00. Following the sale, 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. 52.30% of the stock is currently owned by company insiders.
Several research firms recently commented on RBCAA. Hovde Group cut Republic Bancorp from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $39.00 to $41.00 in a research report on Wednesday. Zacks Investment Research upgraded Republic Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday. Finally, BidaskClub lowered Republic Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th.
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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