Republic Bancorp (NASDAQ:RBCAA) Upgraded to “Hold” at Zacks Research

Republic Bancorp (NASDAQ:RBCAA) was upgraded by stock analysts at Zacks Research to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Republic Bancorp has an average rating of “Moderate Buy”.

Republic Bancorp Price Performance

Shares of Republic Bancorp stock opened at $88.48 on Monday. The stock’s fifty day moving average is $83.83 and its 200 day moving average is $75.78. Republic Bancorp has a one year low of $63.97 and a one year high of $93.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.06. The stock has a market cap of $1.74 billion, a P/E ratio of 13.65 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.63. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.The business had revenue of $114.57 million during the quarter, compared to analysts’ expectations of $96.60 million. Sell-side analysts anticipate that Republic Bancorp will post 6.65 earnings per share for the current year.

Insider Buying and Selling at Republic Bancorp

In other Republic Bancorp news, EVP Christy Ames sold 340 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total value of $29,886.00. Following the sale, the executive vice president owned 6,145 shares in the company, valued at $540,145.50. The trade was a 5.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Anthony T. Powell sold 3,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total transaction of $250,620.00. Following the transaction, the executive vice president directly owned 24,691 shares of the company’s stock, valued at $2,062,686.14. This trade represents a 10.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 55.90% of the company’s stock.

Institutional Investors Weigh In On Republic Bancorp

Large investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Republic Bancorp in the third quarter worth about $27,000. Russell Investments Group Ltd. grew its holdings in Republic Bancorp by 2,561.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock valued at $60,000 after buying an additional 794 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Republic Bancorp by 541.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock worth $121,000 after acquiring an additional 1,483 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Republic Bancorp in the 2nd quarter worth approximately $121,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Republic Bancorp by 46.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after acquiring an additional 598 shares in the last quarter. 24.37% of the stock is owned by institutional investors.

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.