Republic Bancorp, Inc. (NASDAQ:RBCAA) EVP Sells 700 Shares

Republic Bancorp, Inc. (NASDAQ:RBCAA) EVP Christy Ames sold 700 shares of Republic Bancorp stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $70.50, for a total transaction of $49,350.00. Following the completion of the transaction, the executive vice president now directly owns 5,044 shares of the company’s stock, valued at $355,602. This trade represents a 12.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Republic Bancorp Stock Performance

RBCAA traded down $0.29 during midday trading on Wednesday, hitting $70.93. 14,508 shares of the company traded hands, compared to its average volume of 22,164. The company’s 50-day moving average is $67.88 and its 200 day moving average is $68.34. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.38 billion, a PE ratio of 13.67 and a beta of 0.51. Republic Bancorp, Inc. has a 52 week low of $48.67 and a 52 week high of $80.68.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Thursday, April 24th. The bank reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.56. The firm had revenue of $135.84 million during the quarter, compared to analysts’ expectations of $126.90 million. Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Republic Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 20th will be given a $0.451 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, June 20th. Republic Bancorp’s dividend payout ratio (DPR) is presently 29.65%.

Institutional Investors Weigh In On Republic Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new position in shares of Republic Bancorp in the 1st quarter worth $243,000. Jane Street Group LLC purchased a new position in Republic Bancorp in the first quarter worth about $716,000. Voleon Capital Management LP bought a new stake in shares of Republic Bancorp during the 1st quarter valued at about $247,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of 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 during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Republic Bancorp by 132.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 11,935 shares of the bank’s stock valued at $762,000 after purchasing an additional 6,799 shares during the last quarter. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Hovde Group boosted their price target on Republic Bancorp from $64.00 to $69.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th.

Republic Bancorp Company Profile

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.