Republic Bancorp (NASDAQ:RBCAA) Sees Unusually-High Trading Volume – What’s Next?

Republic Bancorp, Inc. (NASDAQ:RBCAA) saw unusually-high trading volume on Wednesday . Approximately 21,885 shares traded hands during mid-day trading, an increase of 24% from the previous session’s volume of 17,691 shares.The stock last traded at $65.44 and had previously closed at $65.08.

Wall Street Analyst Weigh In

Separately, Hovde Group decreased their target price 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.

Republic Bancorp Stock Up 1.1 %

The firm’s 50-day moving average price is $66.47 and its 200-day moving average price is $68.49. 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 company has a market cap of $1.27 billion, a price-to-earnings ratio of 12.49 and a beta of 0.46.

Republic Bancorp (NASDAQ:RBCAA) last posted its earnings results on Friday, January 24th. The bank reported $0.98 earnings per share (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 firm also recently declared 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. The ex-dividend date is Friday, March 21st. This represents a $1.80 dividend on an annualized basis and a yield of 2.76%. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.41. Republic Bancorp’s dividend payout ratio is currently 34.42%.

Insiders Place Their Bets

In other news, Director David P. Feaster sold 1,406 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total transaction of $93,386.52. Following the completion of the transaction, the director now directly owns 4,303 shares of the company’s stock, valued at approximately $285,805.26. This represents a 24.63 % 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 the SEC website. Also, EVP John T. Rippy sold 3,082 shares of the firm’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 value of $203,381.18. Following the completion of the sale, the executive vice president now directly owns 23,105 shares in the company, valued at approximately $1,524,698.95. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. 55.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its position 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 during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Republic Bancorp during the fourth quarter worth approximately $70,000. Tower Research Capital LLC TRC grew its holdings in Republic Bancorp by 206.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,101 shares of the bank’s stock worth $77,000 after buying an additional 742 shares in the last quarter. Sei Investments Co. acquired a new stake in Republic Bancorp in the 4th quarter valued at approximately $208,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Republic Bancorp during the 3rd quarter valued at $224,000. 24.37% of the stock is currently owned by 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.