Republic Bancorp (NASDAQ:RBCAA) Sees Strong Trading Volume – Here’s Why

Republic Bancorp, Inc. (NASDAQ:RBCAA) saw unusually-strong trading volume on Wednesday . Approximately 21,042 shares were traded during mid-day 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.

Wall Street Analyst Weigh In

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 note on Monday, January 27th.

Republic Bancorp Price Performance

The firm has a market capitalization of $1.27 billion, a PE ratio of 12.53 and a beta of 0.54. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11. The firm has a 50-day simple moving average of $67.42 and a 200-day simple moving average of $68.31.

Republic Bancorp (NASDAQ:RBCAA) last announced its earnings results on Friday, January 24th. The bank reported $0.98 EPS for the quarter, missing analysts’ consensus estimates 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 announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Friday, March 21st will be issued a $0.451 dividend. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, March 21st. Republic Bancorp’s dividend payout ratio (DPR) is currently 34.42%.

Insiders Place Their Bets

In other news, EVP John T. Rippy sold 3,082 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $65.99, for a total value of $203,381.18. Following the transaction, the executive vice president now directly owns 23,105 shares in the company, valued at $1,524,698.95. The trade was a 11.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Feaster sold 1,406 shares of the 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. 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 Investors Weigh In On Republic Bancorp

Several institutional investors and hedge funds have recently modified their holdings of RBCAA. New York State Teachers Retirement System lifted its stake in 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 purchasing an additional 659 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Republic Bancorp in the 4th quarter worth $70,000. Tower Research Capital LLC TRC raised its position in shares of Republic Bancorp by 206.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank’s stock valued at $77,000 after buying an additional 742 shares in the last quarter. Sei Investments Co. bought a new position in shares of Republic Bancorp in the 4th quarter valued at about $208,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Republic Bancorp during the third quarter valued at approximately $224,000. 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.