Republic Bancorp (NASDAQ:RBCAA) Shares Gap Down – What’s Next?

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price gapped down prior to trading on Monday . The stock had previously closed at $74.28, but opened at $71.67. Republic Bancorp shares last traded at $74.0050, with a volume of 4,408 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Republic Bancorp currently has a consensus rating of “Hold” and a consensus price target of $69.00.

Republic Bancorp Trading Up 0.4%

The company has a 50 day simple moving average of $68.65 and a 200 day simple moving average of $71.40. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $1.45 billion, a PE ratio of 11.35 and a beta of 0.60.

Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, October 17th. The bank reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.14. Republic Bancorp had a return on equity of 12.23% and a net margin of 24.53%.The business had revenue of $93.54 million for the quarter, compared to analyst estimates of $92.50 million.

Republic Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 19th will be given a dividend of $0.451 per share. The ex-dividend date is Friday, December 19th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. Republic Bancorp’s dividend payout ratio is presently 27.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. boosted its position in shares of Republic Bancorp by 12.8% during the 1st quarter. American Century Companies Inc. now owns 210,003 shares of the bank’s stock worth $13,402,000 after purchasing an additional 23,886 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Republic Bancorp by 33.3% during the second quarter. Public Employees Retirement System of Ohio now owns 2,000 shares of the bank’s stock worth $146,000 after buying an additional 500 shares in the last quarter. State of Wyoming grew its position in Republic Bancorp by 34.1% during the first quarter. State of Wyoming now owns 967 shares of the bank’s stock worth $62,000 after buying an additional 246 shares during the period. Geode Capital Management LLC increased its holdings in Republic Bancorp by 9.0% in the second quarter. Geode Capital Management LLC now owns 234,101 shares of the bank’s stock valued at $17,118,000 after buying an additional 19,271 shares in the last quarter. Finally, Inspire Advisors LLC increased its holdings in Republic Bancorp by 12.6% in the second quarter. Inspire Advisors LLC now owns 44,225 shares of the bank’s stock valued at $3,233,000 after buying an additional 4,947 shares in the last quarter. 24.37% of the stock is currently owned by institutional investors and hedge funds.

About Republic Bancorp

Republic Bancorp, Inc operates as a bank holding company for Republic Bank & Trust Company that provides various banking products and services in the United States. It operates in six segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions.