Republic Bancorp, Inc. (NASDAQ:RBCAA) Short Interest Update

Republic Bancorp, Inc. (NASDAQ:RBCAA) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 48,800 shares, a growth of 23.2% from the August 15th total of 39,600 shares. Based on an average daily volume of 17,400 shares, the short-interest ratio is currently 2.8 days. Currently, 0.6% of the shares of the company are sold short.

Insider Activity

In other Republic Bancorp news, CFO Kevin D. Sipes sold 10,074 shares of Republic Bancorp stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $65.07, for a total transaction of $655,515.18. Following the completion of the sale, the chief financial officer now directly owns 70,086 shares in the company, valued at approximately $4,560,496.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Juan Montano sold 2,750 shares of Republic Bancorp stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $63.37, for a total transaction of $174,267.50. Following the completion of the transaction, the executive vice president now directly owns 8,558 shares in the company, valued at $542,320.46. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin D. Sipes sold 10,074 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $65.07, for a total value of $655,515.18. Following the completion of the sale, the chief financial officer now owns 70,086 shares in the company, valued at approximately $4,560,496.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,828 shares of company stock valued at $1,155,090. Company insiders own 55.50% of the company’s stock.

Hedge Funds Weigh In On Republic Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of Republic Bancorp in the 2nd quarter worth $67,000. Acadian Asset Management LLC acquired a new stake in Republic Bancorp during the second quarter worth about $87,000. Independence Bank of Kentucky raised its stake in Republic Bancorp by 4,133.3% during the second quarter. Independence Bank of Kentucky now owns 3,175 shares of the bank’s stock worth $170,000 after purchasing an additional 3,100 shares during the period. BNP Paribas Financial Markets boosted its holdings in Republic Bancorp by 82.7% in the 1st quarter. BNP Paribas Financial Markets now owns 4,258 shares of the bank’s stock valued at $217,000 after purchasing an additional 1,927 shares during the last quarter. Finally, RPS Advisory Solutions LLC purchased a new stake in shares of Republic Bancorp in the 2nd quarter valued at approximately $226,000. Institutional investors and hedge funds own 24.37% of the company’s stock.

Republic Bancorp Price Performance

Shares of Republic Bancorp stock traded up $2.02 on Friday, hitting $64.68. The company’s stock had a trading volume of 11,095 shares, compared to its average volume of 17,271. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 13.59 and a beta of 0.52. Republic Bancorp has a 1 year low of $42.42 and a 1 year high of $69.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a fifty day moving average price of $61.08 and a 200-day moving average price of $54.27.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Friday, July 19th. The bank reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). Republic Bancorp had a return on equity of 10.50% and a net margin of 20.41%. The company had revenue of $116.05 million during the quarter.

Republic Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 20th will be issued a $0.407 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.63 annualized dividend and a dividend yield of 2.52%. Republic Bancorp’s dividend payout ratio is presently 34.03%.

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.