Republic Bancorp, Inc. (RBCAA) Upgraded to Buy by 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 Friday. The brokerage currently has $43.00 target price on the bank’s stock.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
A number of other equities research analysts have also weighed in on the stock. BidaskClub lowered shares of Republic Bancorp from a sell rating to a strong sell rating in a report on Tuesday, August 8th. Hovde Group lowered shares of Republic Bancorp from an outperform rating to a market perform rating and raised their price target for the company from $39.00 to $41.00 in a report on Wednesday, October 4th.
Shares of Republic Bancorp (NASDAQ:RBCAA) traded up $0.18 during mid-day trading on Friday, reaching $39.37. 18,165 shares of the company traded hands, compared to its average volume of 20,109. Republic Bancorp has a 1 year low of $31.97 and a 1 year high of $44.04. The company has a quick ratio of 1.30, a current ratio of 1.21 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $808.82, a price-to-earnings ratio of 15.87 and a beta of 0.50.
Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Friday, October 20th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. Republic Bancorp had a net margin of 18.24% and a return on equity of 6.82%. The company had revenue of $58.68 million during the quarter. sell-side analysts anticipate that Republic Bancorp will post 2.33 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Investors of record on Friday, December 15th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.24%. Republic Bancorp’s dividend payout ratio (DPR) is presently 36.51%.
In other news, EVP Steven E. Deweese sold 1,115 shares of Republic Bancorp stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $35.49, for a total value of $39,571.35. Following the transaction, the executive vice president now owns 41,630 shares of the company’s stock, valued at approximately $1,477,448.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven E. Deweese sold 7,000 shares of Republic Bancorp stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $41.00, for a total transaction of $287,000.00. Following the completion of the transaction, the executive vice president now directly owns 34,115 shares in the company, valued at approximately $1,398,715. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,115 shares of company stock worth $361,071. Corporate insiders own 52.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in RBCAA. American International Group Inc. boosted its holdings 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 buying an additional 392 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Republic Bancorp by 5.4% in the first quarter. Vanguard Group Inc. now owns 390,308 shares of the bank’s stock worth $13,423,000 after buying an additional 19,998 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Republic Bancorp by 5.7% in the first quarter. Geode Capital Management LLC now owns 83,713 shares of the bank’s stock worth $2,878,000 after buying an additional 4,540 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Republic Bancorp by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 747,183 shares of the bank’s stock worth $25,696,000 after buying an additional 13,687 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Republic Bancorp by 23.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 72,979 shares of the bank’s stock worth $2,510,000 after buying an additional 13,805 shares during the period. Institutional investors own 24.22% 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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