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. “
Shares of Republic Bancorp (NASDAQ:RBCAA) remained flat at $31.25 during trading on Tuesday. 192 shares of the stock were exchanged. The firm’s 50-day moving average is $31.21 and its 200-day moving average is $28.71. The company has a market cap of $651.94 million, a PE 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 (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.04. Republic Bancorp had a net margin of 18.78% and a return on equity of 6.70%. On average, analysts expect that Republic Bancorp will post $2.04 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, September 16th will be given a $0.209 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.84 annualized dividend and a yield of 2.68%. Republic Bancorp’s dividend payout ratio (DPR) is currently 44.68%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parametric Portfolio Associates LLC boosted its position in shares of Republic Bancorp by 0.5% in the second quarter. Parametric Portfolio Associates LLC now owns 51,930 shares of the company’s stock valued at $1,435,000 after buying an additional 258 shares during the period. First Trust Advisors LP boosted its position in shares of Republic Bancorp by 1.2% in the second quarter. First Trust Advisors LP now owns 22,952 shares of the company’s stock valued at $634,000 after buying an additional 271 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Republic Bancorp by 0.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 71,674 shares of the company’s stock valued at $1,981,000 after buying an additional 294 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of 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 valued at $270,000 after buying an additional 600 shares during the period. Finally, Prudential Financial Inc. boosted its position in shares of Republic Bancorp by 3.1% in the second quarter. Prudential Financial Inc. now owns 23,187 shares of the company’s stock valued at $641,000 after buying an additional 700 shares during the period. 24.31% of the stock is owned by hedge funds and other institutional investors.
Republic Bancorp Company Profile
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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