Republic Bancorp (NASDAQ:RBCAA) Sees Strong Trading Volume – Still a Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) saw an uptick in trading volume on Monday . Approximately 76,152 shares traded hands during mid-day trading, an increase of 1% from the previous session’s volume of 75,239 shares.The stock last traded at $91.3980 and had previously closed at $90.91.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RBCAA. Zacks Research raised Republic Bancorp to a “hold” rating in a report on Monday, July 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. Finally, Wall Street Zen upgraded Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Republic Bancorp Stock Up 0.5%

The stock has a market capitalization of $1.79 billion, a P/E ratio of 14.10 and a beta of 0.56. The company has a fifty day moving average price of $84.66 and a 200-day moving average price of $76.22. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.32.

Republic Bancorp (NASDAQ:RBCAA) last posted its earnings results on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, beating 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 firm had revenue of $114.57 million during the quarter, compared to the consensus estimate of $96.60 million. As a group, research analysts forecast that Republic Bancorp, Inc. will post 6.65 EPS for the current fiscal year.

Republic Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 18th will be paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, September 18th. Republic Bancorp’s dividend payout ratio (DPR) is presently 30.56%.

Insider Buying and Selling at Republic Bancorp

In other news, EVP Anthony T. Powell sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total value of $250,620.00. Following the sale, the executive vice president directly owned 24,691 shares in the company, valued at approximately $2,062,686.14. This represents a 10.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Christy Ames sold 340 shares of Republic Bancorp stock in a transaction on Thursday, June 11th. The stock was 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 of the company’s stock, valued at approximately $540,145.50. This trade represents a 5.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 55.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Republic Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Formidable Asset Management LLC grew its stake in Republic Bancorp by 0.6% in the 4th quarter. Formidable Asset Management LLC now owns 30,776 shares of the bank’s stock worth $2,224,000 after acquiring an additional 184 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Republic Bancorp by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,072 shares of the bank’s stock worth $371,000 after purchasing an additional 187 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Republic Bancorp by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank’s stock valued at $316,000 after purchasing an additional 234 shares in the last quarter. Silver Oak Securities Incorporated lifted its holdings in shares of Republic Bancorp by 9.4% in the 1st quarter. Silver Oak Securities Incorporated now owns 3,486 shares of the bank’s stock worth $246,000 after buying an additional 300 shares during the period. Finally, Quarry LP bought a new position in shares of Republic Bancorp during the 3rd quarter worth $27,000. Institutional investors own 24.37% of the company’s stock.

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.