Republic Bancorp (NASDAQ:RBCAA) Shares Gap Down – Time to Sell?

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price gapped down before the market opened on Monday . The stock had previously closed at $75.06, but opened at $71.31. Republic Bancorp shares last traded at $71.88, with a volume of 9,769 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $69.00.

Republic Bancorp Stock Performance

The firm has a 50 day moving average of $70.23 and a two-hundred day moving average of $71.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.06 and a quick ratio of 1.05. The stock has a market cap of $1.40 billion, a PE ratio of 10.91 and a beta of 0.60.

Republic Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 20th will be given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, March 20th. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.45. Republic Bancorp’s payout ratio is 27.57%.

Hedge Funds Weigh In On Republic Bancorp

Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in shares of Republic Bancorp by 33.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,000 shares of the bank’s stock worth $146,000 after purchasing an additional 500 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Republic Bancorp by 13.8% in the second quarter. American Century Companies Inc. now owns 238,979 shares of the bank’s stock valued at $17,472,000 after purchasing an additional 28,976 shares during the period. Geode Capital Management LLC boosted its holdings in Republic Bancorp by 9.0% during the second quarter. Geode Capital Management LLC now owns 234,101 shares of the bank’s stock worth $17,118,000 after buying an additional 19,271 shares in the last quarter. Inspire Advisors LLC grew its position in Republic Bancorp by 12.6% during the second quarter. Inspire Advisors LLC now owns 44,225 shares of the bank’s stock worth $3,233,000 after buying an additional 4,947 shares during the period. Finally, Denali Advisors LLC increased its holdings in Republic Bancorp by 27.4% in the second quarter. Denali Advisors LLC now owns 25,464 shares of the bank’s stock valued at $1,862,000 after buying an additional 5,480 shares in the last quarter. 24.37% of the stock is owned by institutional investors and hedge funds.

About Republic Bancorp

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp’s branch network spans key markets in the U.S.