Republic Bancorp (NASDAQ:RBCAA) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) saw unusually-strong trading volume on Wednesday . Approximately 21,042 shares traded hands during trading, a decline of 6% from the previous session’s volume of 22,386 shares.The stock last traded at $65.94 and had previously closed at $68.28.

Analyst Upgrades and Downgrades

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

Republic Bancorp Price Performance

The firm has a 50 day moving average price of $67.42 and a two-hundred day moving average price of $68.31. The company has a market cap of $1.27 billion, a P/E ratio of 12.53 and a beta of 0.54. 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 (NASDAQ:RBCAA) last released its quarterly earnings data on Friday, January 24th. The bank reported $0.98 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%.

Republic Bancorp Increases Dividend

The business also recently disclosed 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 represents a $1.80 annualized dividend and a dividend yield of 2.75%. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. Republic Bancorp’s dividend payout ratio is 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 that occurred 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 completion of the transaction, the executive vice president now owns 23,105 shares of the company’s stock, valued at $1,524,698.95. This represents a 11.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David P. Feaster sold 1,406 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were 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 of the company’s stock, valued at approximately $285,805.26. This represents a 24.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 55.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. New York State Teachers Retirement System grew its stake in shares of Republic Bancorp by 659.0% in the 4th quarter. New York State Teachers Retirement System now owns 759 shares of the bank’s stock worth $53,000 after buying an additional 659 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Republic Bancorp in the fourth quarter worth $70,000. Tower Research Capital LLC TRC increased its holdings in shares of Republic Bancorp by 206.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank’s stock valued at $77,000 after acquiring an additional 742 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Republic Bancorp in the 4th quarter worth about $208,000. Finally, The Manufacturers Life Insurance Company bought a new position in Republic Bancorp in the 3rd quarter worth about $224,000. 24.37% of the stock is owned by hedge funds and other institutional investors.

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.