Republic Bancorp (NASDAQ:RBCAA) Sees Strong Trading Volume – Time to Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares saw unusually-high trading volume on Wednesday . Approximately 21,885 shares changed hands during mid-day trading, an increase of 24% from the previous session’s volume of 17,691 shares.The stock last traded at $65.44 and had previously closed at $65.08.

Analyst Upgrades and Downgrades

Separately, Hovde Group reduced their price target on shares of Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating for the company in a research report on Monday, January 27th.

Republic Bancorp Stock Up 1.1 %

The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $66.47 and a 200-day moving average of $68.49. The stock has a market cap of $1.27 billion, a PE ratio of 12.49 and a beta of 0.46.

Republic Bancorp (NASDAQ:RBCAA) last announced its earnings results on Friday, January 24th. The bank reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%.

Republic Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be issued a $0.451 dividend. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. This represents a $1.80 annualized dividend and a dividend yield of 2.76%. Republic Bancorp’s payout ratio is presently 34.42%.

Insider Buying and Selling at Republic Bancorp

In other Republic Bancorp news, EVP John T. Rippy sold 3,082 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total value of $203,381.18. Following the sale, the executive vice president now owns 23,105 shares of the company’s stock, valued at approximately $1,524,698.95. This represents a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Feaster sold 1,406 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total transaction of $93,386.52. Following the completion of the sale, the director now owns 4,303 shares in the company, valued at $285,805.26. This represents a 24.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 55.50% of the stock is owned by corporate insiders.

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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Republic Bancorp by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the bank’s stock valued at $329,000 after acquiring an additional 164 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Republic Bancorp by 1.4% during the third quarter. Cerity Partners LLC now owns 12,501 shares of the bank’s stock worth $816,000 after buying an additional 167 shares in the last quarter. Meridian Wealth Management LLC raised its position in shares of Republic Bancorp by 3.3% in the fourth quarter. Meridian Wealth Management LLC now owns 6,184 shares of the bank’s stock valued at $432,000 after buying an additional 200 shares during the last quarter. MetLife Investment Management LLC increased its stake in Republic Bancorp by 12.1% in the fourth quarter. MetLife Investment Management LLC now owns 5,008 shares of the bank’s stock valued at $350,000 after purchasing an additional 539 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Republic Bancorp by 3.4% during the fourth quarter. Invesco Ltd. now owns 16,889 shares of the bank’s stock worth $1,180,000 after buying an additional 560 shares during the period. Institutional investors and hedge funds 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.