Republic Bancorp (NASDAQ:RBCAA) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $81.06 and traded as high as $95.35. Republic Bancorp shares last traded at $94.44, with a volume of 113,503 shares changing hands.

Analyst Ratings Changes

Several analysts have weighed in on RBCAA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a report on Tuesday, June 9th. Zacks Research upgraded shares of Republic Bancorp to a “hold” rating in a research report on Monday, July 13th. Finally, Hovde Group increased their price objective on shares of Republic Bancorp from $80.00 to $98.00 and gave the company a “market perform” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $98.00.

Republic Bancorp Stock Down 0.4%

The firm has a 50 day simple moving average of $93.19 and a two-hundred day simple moving average of $81.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.02 and a quick ratio of 1.01. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 14.34 and a beta of 0.55.

Republic Bancorp (NASDAQ:RBCAA) last issued its earnings results on Friday, July 24th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.13. The firm had revenue of $101.27 million for the quarter, compared to analysts’ expectations of $97.60 million. Republic Bancorp had a return on equity of 11.20% and a net margin of 25.38%. As a group, sell-side analysts expect that Republic Bancorp, Inc. will post 6.65 EPS for the current year.

Republic Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 18th will be issued a dividend of $0.495 per share. The ex-dividend date is Friday, September 18th. This represents a $1.98 dividend on an annualized basis and a yield of 2.1%. Republic Bancorp’s payout ratio is currently 30.23%.

Insider Activity at Republic Bancorp

In other Republic Bancorp news, EVP Christy Ames sold 340 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total value of $29,886.00. Following the sale, the executive vice president directly owned 6,145 shares in the company, valued at approximately $540,145.50. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Anthony T. Powell sold 3,000 shares of Republic Bancorp stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total transaction of $250,620.00. Following the transaction, 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 SEC filing for this sale provides additional information. 55.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of Republic Bancorp in the third quarter worth about $27,000. Russell Investments Group Ltd. lifted its holdings in shares of Republic Bancorp by 2,561.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock valued at $60,000 after purchasing an additional 794 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Republic Bancorp by 541.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock valued at $121,000 after purchasing an additional 1,483 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Republic Bancorp in the 2nd quarter valued at approximately $121,000. Finally, BNP Paribas Financial Markets increased its stake in Republic Bancorp by 46.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after purchasing an additional 598 shares in the last quarter. 24.37% of the stock is currently owned by institutional investors.

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.