Republic Bancorp (NASDAQ:RBCAA) Hits New 12-Month High – Time to Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $81.05 and last traded at $80.53, with a volume of 22523 shares changing hands. The stock had previously closed at $79.41.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Republic Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Republic Bancorp presently has an average rating of “Moderate Buy”.

Republic Bancorp Stock Performance

The firm has a fifty day moving average price of $74.05 and a 200 day moving average price of $71.63. 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 $1.58 billion, a PE ratio of 12.40 and a beta of 0.57.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $96.60 million.

Republic Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, June 18th will be paid a $0.495 dividend. The ex-dividend date is Thursday, June 18th. This represents a $1.98 dividend on an annualized basis and a yield of 2.5%. Republic Bancorp’s dividend payout ratio (DPR) is 30.56%.

Hedge Funds Weigh In On Republic Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RBCAA. First Trust Advisors LP raised its stake in Republic Bancorp by 651.0% in the 2nd quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock worth $5,708,000 after acquiring an additional 67,681 shares during the last quarter. Millennium Management LLC raised its stake in Republic Bancorp by 172.3% in the 3rd quarter. Millennium Management LLC now owns 63,702 shares of the bank’s stock worth $4,602,000 after acquiring an additional 40,308 shares during the last quarter. American Century Companies Inc. raised its stake in Republic Bancorp by 11.0% in the 3rd quarter. American Century Companies Inc. now owns 265,298 shares of the bank’s stock worth $19,168,000 after acquiring an additional 26,319 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Republic Bancorp in the 3rd quarter worth $1,600,000. Finally, Goldman Sachs Group Inc. raised its stake in Republic Bancorp by 41.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 60,225 shares of the bank’s stock worth $4,155,000 after acquiring an additional 17,709 shares during the last quarter. Hedge funds and other 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.