Republic Bancorp, Inc. (RBCAA) Rating Increased to Buy at Zacks Investment Research
Republic Bancorp, Inc. (NASDAQ:RBCAA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The brokerage presently has a $39.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.72% from the company’s current price.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Separately, BidaskClub cut Republic Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th.
Republic Bancorp (NASDAQ:RBCAA) opened at 34.91 on Friday. The stock has a market cap of $728.15 million, a price-to-earnings ratio of 14.67 and a beta of 0.49. The firm’s 50-day moving average price is $34.95 and its 200-day moving average price is $34.98. Republic Bancorp has a 12-month low of $28.56 and a 12-month high of $40.74.
Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $56.06 million during the quarter. Republic Bancorp had a return on equity of 8.14% and a net margin of 19.33%. On average, equities analysts predict that Republic Bancorp will post $2.34 EPS for the current fiscal year.
In related news, EVP Steven E. Deweese sold 1,000 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $34.50, for a total transaction of $34,500.00. Following the completion of the sale, the executive vice president now owns 42,230 shares in the company, valued at $1,456,935. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven E. Deweese sold 1,115 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $35.49, for a total value of $39,571.35. Following the sale, the executive vice president now owns 41,630 shares of the company’s stock, valued at approximately $1,477,448.70. The disclosure for this sale can be found here. Company insiders own 52.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in RBCAA. KBC Group NV grew its position in shares of Republic Bancorp by 225.7% during the second quarter. KBC Group NV now owns 3,671 shares of the bank’s stock worth $101,000 after purchasing an additional 2,544 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Republic Bancorp during the fourth quarter worth about $130,000. Huntington Asset Advisors Inc. purchased a new stake in shares of Republic Bancorp during the first quarter worth about $161,000. SG Americas Securities LLC purchased a new stake in shares of Republic Bancorp during the second quarter worth about $165,000. Finally, Globeflex Capital L P purchased a new stake in shares of Republic Bancorp during the first quarter worth about $190,000. Hedge funds and other institutional investors own 24.29% of the company’s stock.
Republic Bancorp Company Profile
Republic Bancorp, Inc 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. The Company operates through four segments: Traditional Banking, which provides traditional banking products to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the United States through mortgage warehouse lines of credit; 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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