Hovde Group Has Lowered Expectations for Republic Bancorp (NASDAQ:RBCAA) Stock Price

Republic Bancorp (NASDAQ:RBCAAGet Free Report) had its price objective dropped by equities researchers at Hovde Group from $72.00 to $70.00 in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage currently has a “market perform” rating on the bank’s stock. Hovde Group’s price target indicates a potential upside of 4.49% from the stock’s previous close.

Republic Bancorp Price Performance

Shares of NASDAQ:RBCAA opened at $66.99 on Monday. The company’s fifty day moving average is $72.10 and its two-hundred day moving average is $67.15. The company has a market cap of $1.30 billion, a P/E ratio of 12.74 and a beta of 0.56. Republic Bancorp has a 12-month low of $46.55 and a 12-month high of $80.68. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38.

Republic Bancorp (NASDAQ:RBCAAGet Free Report) last released its earnings results on Friday, January 24th. The bank reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%.

Insider Activity at Republic Bancorp

In other Republic Bancorp news, Director Heather V. Howell sold 1,496 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $75.63, for a total transaction of $113,142.48. Following the completion of the sale, the director now owns 7,491 shares of the company’s stock, valued at $566,544.33. This represents a 16.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 55.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Republic Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in RBCAA. Dimensional Fund Advisors LP increased its position in Republic Bancorp by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 952,102 shares of the bank’s stock worth $51,040,000 after acquiring an additional 8,382 shares during the period. Renaissance Technologies LLC grew its position in Republic Bancorp by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 40,200 shares of the bank’s stock worth $2,155,000 after purchasing an additional 2,100 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Republic Bancorp during the 3rd quarter worth about $205,000. Creative Planning acquired a new position in shares of Republic Bancorp during the third quarter valued at about $261,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Republic Bancorp in the third quarter valued at about $208,000. 24.37% of the stock is owned by institutional investors and hedge funds.

Republic Bancorp Company Profile

(Get Free Report)

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.

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