Republic Bancorp (NASDAQ:RBCAA) Issues Earnings Results

Republic Bancorp (NASDAQ:RBCAA) issued its quarterly earnings results on Friday. The bank reported $1.17 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.13), FiscalAI reports. Republic Bancorp had a return on equity of 12.23% and a net margin of 24.53%.The business had revenue of $94.27 million during the quarter, compared to the consensus estimate of $92.50 million.

Republic Bancorp Price Performance

NASDAQ:RBCAA traded up $0.14 during mid-day trading on Friday, hitting $71.54. The company’s stock had a trading volume of 19,181 shares, compared to its average volume of 34,764. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.97 and a beta of 0.60. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35. Republic Bancorp has a fifty-two week low of $56.79 and a fifty-two week high of $78.25. The stock has a fifty day moving average of $70.68 and a 200-day moving average of $71.22.

Republic Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, March 20th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.8%. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, March 20th. Republic Bancorp’s dividend payout ratio (DPR) is currently 27.57%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.00.

Hedge Funds Weigh In On Republic Bancorp

A number of hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new stake in Republic Bancorp in the 3rd quarter valued at $27,000. Qube Research & Technologies Ltd lifted its holdings in shares of Republic Bancorp by 20.7% during the third quarter. Qube Research & Technologies Ltd now owns 24,718 shares of the bank’s stock valued at $1,786,000 after acquiring an additional 4,240 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Republic Bancorp in the 3rd quarter valued at $1,600,000. Millennium Management LLC boosted its stake in shares of Republic Bancorp by 172.3% in the 3rd quarter. Millennium Management LLC now owns 63,702 shares of the bank’s stock valued at $4,602,000 after purchasing an additional 40,308 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Republic Bancorp in the 3rd quarter worth about $232,000. 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.