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

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) saw unusually-strong trading volume on Thursday . Approximately 18,284 shares were traded during mid-day trading, an increase of 1% from the previous session’s volume of 18,154 shares.The stock last traded at $65.38 and had previously closed at $64.48.

Analyst Upgrades and Downgrades

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

Republic Bancorp Price Performance

The firm has a market capitalization of $1.26 billion, a P/E ratio of 12.32 and a beta of 0.46. The business’s fifty day moving average is $66.19 and its 200 day moving average is $68.56. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Friday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, March 21st will be given a $0.451 dividend. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, March 21st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.80%. Republic Bancorp’s dividend payout ratio (DPR) is 34.42%.

Insiders Place Their Bets

In related 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 transaction of $203,381.18. Following the transaction, the executive vice president now directly owns 23,105 shares of the company’s stock, valued at approximately $1,524,698.95. The trade was a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Feaster sold 1,406 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total value of $93,386.52. Following the sale, the director now owns 4,303 shares of the company’s stock, valued at $285,805.26. The trade was a 24.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 55.50% of the company’s stock.

Institutional Investors Weigh In On Republic Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in shares of Republic Bancorp by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock worth $14,345,000 after purchasing an additional 9,430 shares in the last quarter. Barclays PLC raised its position in Republic Bancorp by 338.3% during the third quarter. Barclays PLC now owns 12,736 shares of the bank’s stock valued at $831,000 after acquiring an additional 9,830 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC acquired a new stake in Republic Bancorp in the fourth quarter valued at approximately $280,000. JPMorgan Chase & Co. grew its position in Republic Bancorp by 10.0% in the third quarter. JPMorgan Chase & Co. now owns 16,635 shares of the bank’s stock worth $1,086,000 after acquiring an additional 1,515 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Republic Bancorp during the 3rd quarter worth $224,000. Hedge funds and other institutional investors own 24.37% of the company’s stock.

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.