Weiss Ratings Reaffirms “Buy (B)” Rating for Republic Bancorp (NASDAQ:RBCAA)

Republic Bancorp (NASDAQ:RBCAA)‘s stock had its “buy (b)” rating reaffirmed by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, Raymond James Financial assumed coverage on shares of Republic Bancorp in a research note on Friday, June 27th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Republic Bancorp presently has an average rating of “Hold” and an average target price of $69.00.

Republic Bancorp Stock Up 0.4%

Republic Bancorp stock opened at $71.03 on Wednesday. Republic Bancorp has a 1-year low of $56.79 and a 1-year high of $80.68. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 11.13 and a beta of 0.53. The firm’s fifty day moving average price is $73.41 and its two-hundred day moving average price is $70.78. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.35.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Friday, July 18th. The bank reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.19. Republic Bancorp had a net margin of 23.98% and a return on equity of 12.23%. The firm had revenue of $93.00 million for the quarter, compared to analyst estimates of $93.50 million.

Insider Transactions at Republic Bancorp

In related news, EVP Juan Montano sold 1,223 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $75.53, for a total transaction of $92,373.19. Following the completion of the sale, the executive vice president owned 4,434 shares in the company, valued at approximately $334,900.02. This trade represents a 21.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christy Ames sold 400 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $75.79, for a total transaction of $30,316.00. Following the sale, the executive vice president owned 4,738 shares of the company’s stock, valued at $359,093.02. This trade represents a 7.79% decrease in their position. The disclosure for this sale can be found here. 56.40% of the stock is owned by company insiders.

Institutional Trading of Republic Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in Republic Bancorp by 125.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,279 shares of the bank’s stock worth $167,000 after buying an additional 1,268 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Republic Bancorp by 3,384.5% during the second quarter. Lazard Asset Management LLC now owns 18,154 shares of the bank’s stock worth $1,327,000 after buying an additional 17,633 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in Republic Bancorp during the second quarter worth about $203,000. BNP Paribas Financial Markets increased its holdings in Republic Bancorp by 46.4% during the second quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after buying an additional 598 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Republic Bancorp by 1.1% in the second quarter. Bridgeway Capital Management LLC now owns 112,875 shares of the bank’s stock worth $8,252,000 after purchasing an additional 1,219 shares in the last quarter. Hedge funds and other institutional investors own 24.37% of the company’s stock.

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.