Republic Bancorp, Inc. (RBCAA) Upgraded 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 currently has a $40.00 price objective on the bank’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.36% from the company’s current price.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Separately, BidaskClub downgraded shares of Republic Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th.
Shares of Republic Bancorp (NASDAQ RBCAA) opened at 35.60 on Friday. The stock has a 50 day moving average of $34.95 and a 200-day moving average of $34.98. Republic Bancorp has a 1-year low of $28.56 and a 1-year high of $40.74. The company has a market capitalization of $742.54 million, a price-to-earnings ratio of 14.96 and a beta of 0.49.
Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.48. The business had revenue of $56.06 million for the quarter. Republic Bancorp had a net margin of 19.33% and a return on equity of 8.14%. Analysts forecast that Republic Bancorp will post $2.34 earnings per share for the current year.
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In other news, EVP Steven E. Deweese sold 1,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $34.50, for a total transaction of $34,500.00. Following the sale, the executive vice president now owns 42,230 shares in the company, valued at approximately $1,456,935. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Steven E. Deweese sold 1,115 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $35.49, for a total transaction of $39,571.35. Following the sale, the executive vice president now owns 41,630 shares in the company, valued at approximately $1,477,448.70. The disclosure for this sale can be found here. 52.30% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Globeflex Capital L P bought a new stake in shares of Republic Bancorp during the 1st quarter valued at $190,000. Vanguard Group Inc. boosted its holdings in shares of Republic Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 390,308 shares of the bank’s stock valued at $13,423,000 after buying an additional 19,998 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Republic Bancorp by 7.1% during the 1st quarter. American International Group Inc. now owns 5,947 shares of the bank’s stock valued at $205,000 after buying an additional 392 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Republic Bancorp by 0.4% during the 1st quarter. Bank of America Corp DE now owns 93,652 shares of the bank’s stock valued at $3,221,000 after buying an additional 414 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Republic Bancorp by 24.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 25,163 shares of the bank’s stock valued at $865,000 after buying an additional 4,892 shares in the last quarter. 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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