Republic Bancorp, Inc. (RBCAA) Rating Lowered to Hold at ValuEngine
Republic Bancorp, Inc. (NASDAQ:RBCAA) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Saturday.
RBCAA has been the topic of a number of other reports. Zacks Investment Research lowered Republic Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. Hovde Group lowered Republic Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the company from $39.00 to $41.00 in a report on Wednesday, October 4th. Finally, BidaskClub lowered Republic Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th.
Shares of Republic Bancorp (RBCAA) opened at $39.77 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $840.62, a price-to-earnings ratio of 16.58 and a beta of 0.51. Republic Bancorp has a one year low of $31.97 and a one year high of $44.04.
In other news, EVP Steven E. Deweese sold 7,000 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $41.00, for a total transaction of $287,000.00. Following the transaction, the executive vice president now directly owns 34,115 shares of the company’s stock, valued at $1,398,715. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven E. Deweese sold 1,115 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $35.49, for a total value of $39,571.35. Following the transaction, the executive vice president now directly owns 41,630 shares in the company, valued at $1,477,448.70. The disclosure for this sale can be found here. 52.30% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Republic Bancorp by 5.4% during the first quarter. Vanguard Group Inc. now owns 390,308 shares of the bank’s stock worth $13,423,000 after acquiring an additional 19,998 shares during the period. Dimensional Fund Advisors LP grew its holdings in Republic Bancorp by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 769,928 shares of the bank’s stock worth $27,487,000 after acquiring an additional 22,745 shares during the period. Bank of America Corp DE grew its holdings in Republic Bancorp by 0.4% during the first quarter. Bank of America Corp DE now owns 93,652 shares of the bank’s stock worth $3,221,000 after acquiring an additional 414 shares during the period. American International Group Inc. grew its holdings in Republic Bancorp by 7.1% during the first quarter. American International Group Inc. now owns 5,947 shares of the bank’s stock worth $205,000 after acquiring an additional 392 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Republic Bancorp by 24.1% during the first quarter. Goldman Sachs Group Inc. now owns 25,163 shares of the bank’s stock worth $865,000 after acquiring an additional 4,892 shares during the period. 24.45% of the stock is currently owned by hedge funds and other institutional investors.
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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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