John T. Rippy Sells 3,082 Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) Stock

Republic Bancorp, Inc. (NASDAQ:RBCAA) EVP John T. Rippy sold 3,082 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $65.99, for a total transaction of $203,381.18. Following the completion of the sale, the executive vice president now directly owns 23,105 shares of the company’s stock, valued at approximately $1,524,698.95. This trade 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 can be accessed through this link.

Republic Bancorp Stock Performance

RBCAA stock opened at $65.45 on Friday. Republic Bancorp, Inc. has a 1-year low of $46.55 and a 1-year high of $80.68. The business has a 50-day moving average price of $71.15 and a 200 day moving average price of $67.42. The company has a market capitalization of $1.27 billion, a P/E ratio of 12.51 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings results on Friday, January 24th. The bank reported $0.98 earnings per share 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 declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 2.76%. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 21st. Republic Bancorp’s payout ratio is presently 31.17%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Republic Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Republic Bancorp by 4.5% in the third 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. State Street Corp raised its stake in shares of Republic Bancorp by 2.2% during the 3rd quarter. State Street Corp now owns 210,298 shares of the bank’s stock worth $13,816,000 after acquiring an additional 4,429 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Republic Bancorp by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 100,794 shares of the bank’s stock valued at $6,582,000 after acquiring an additional 2,098 shares during the last quarter. Empowered Funds LLC boosted its stake in Republic Bancorp by 5.0% in the fourth quarter. Empowered Funds LLC now owns 64,930 shares of the bank’s stock valued at $4,537,000 after acquiring an additional 3,105 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Republic Bancorp by 5.5% in the second quarter. Renaissance Technologies LLC now owns 40,200 shares of the bank’s stock worth $2,155,000 after purchasing an additional 2,100 shares during the last quarter. 24.37% of the stock is currently owned by hedge funds and other 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.