Republic Bancorp Inc. (RBCAA) Rating Lowered to Hold at Zacks Investment Research
Republic Bancorp Inc. (NASDAQ:RBCAA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Republic Bancorp (NASDAQ:RBCAA) remained flat at $31.25 on Tuesday. The stock had a trading volume of 192 shares. The stock has a 50-day moving average of $31.21 and a 200-day moving average of $28.71. The company has a market capitalization of $651.94 million, a price-to-earnings ratio of 16.74 and a beta of 0.72. Republic Bancorp has a 52 week low of $23.00 and a 52 week high of $33.26.
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Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. Republic Bancorp had a return on equity of 6.70% and a net margin of 18.78%. On average, equities analysts predict that Republic Bancorp will post $2.04 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, September 16th will be issued a dividend of $0.209 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Wednesday, September 14th. Republic Bancorp’s payout ratio is presently 44.68%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virginia Retirement System bought a new position in Republic Bancorp during the first quarter worth $332,000. Los Angeles Capital Management & Equity Research Inc. raised its position in Republic Bancorp by 6.1% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,452 shares of the company’s stock worth $270,000 after buying an additional 600 shares during the last quarter. Prudential Financial Inc. raised its position in Republic Bancorp by 3.7% in the first quarter. Prudential Financial Inc. now owns 22,487 shares of the company’s stock worth $581,000 after buying an additional 800 shares during the last quarter. Huntington Asset Advisors Inc. bought a new position in Republic Bancorp during the first quarter worth $161,000. Finally, Stadium Capital Management LLC raised its position in Republic Bancorp by 19.0% in the first quarter. Stadium Capital Management LLC now owns 442,776 shares of the company’s stock worth $11,437,000 after buying an additional 70,745 shares during the last quarter. 24.31% of the stock is owned by institutional investors and hedge funds.
About Republic Bancorp
Republic Bancorp, Inc (Republic) is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc (the Captive). The Bank is a Kentucky-based, state chartered non-member financial institution. The Captive is an insurance subsidiary of the Company. It operates in four segments: Traditional Banking, which provides traditional banking products primarily to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the Nation; Mortgage Banking, which originates, sells and services long-term, single family, first lien residential real estate loans, and Republic Processing Group (RPG), which facilitates the receipt and payment of federal and state tax refund products.
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