Hovde Group Increases Republic Bancorp (NASDAQ:RBCAA) Price Target to $69.00

Republic Bancorp (NASDAQ:RBCAA) had its target price raised by Hovde Group from $64.00 to $69.00 in a report released on Friday morning, Marketbeat reports. They currently have a market perform rating on the bank’s stock.

Republic Bancorp Stock Performance

RBCAA opened at $67.01 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12. Republic Bancorp has a 52-week low of $48.67 and a 52-week high of $80.68. The firm has a market cap of $1.31 billion, a P/E ratio of 12.81 and a beta of 0.46. The business’s fifty day moving average is $64.49 and its 200-day moving average is $68.39.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.56. Republic Bancorp had a net margin of 20.05% and a return on equity of 10.60%. The firm had revenue of $135.84 million for the quarter, compared to the consensus estimate of $126.90 million.

Insider Buying and Selling at Republic Bancorp

In other news, Director David P. Feaster sold 1,406 shares of Republic Bancorp stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total value of $93,386.52. Following the transaction, the director now owns 4,303 shares in the company, valued at approximately $285,805.26. This trade represents a 24.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 disclosure for this sale can be found here. Company insiders own 56.40% of the company’s stock.

Institutional Investors Weigh In On Republic Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Republic Bancorp by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock valued at $14,345,000 after purchasing an additional 9,430 shares during the last quarter. Barclays PLC lifted its stake in shares of Republic Bancorp by 338.3% in the 3rd quarter. Barclays PLC now owns 12,736 shares of the bank’s stock valued at $831,000 after acquiring an additional 9,830 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC acquired a new stake in shares of Republic Bancorp during the 4th quarter valued at $280,000. JPMorgan Chase & Co. increased its holdings in Republic Bancorp by 10.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,635 shares of the bank’s stock worth $1,086,000 after purchasing an additional 1,515 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Republic Bancorp in the fourth quarter valued at about $375,000. 24.37% of the stock is owned by institutional investors.

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.