Zacks: Republic Bancorp, Inc. (RBCAA) Given $41.00 Average Price Target by Analysts
Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) have received an average broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a hold recommendation. Republic Bancorp’s rating score has declined by 50% from three months ago as a result of various analysts’ ratings changes.
Analysts have set a 12 month consensus price objective of $41.00 for the company, according to Zacks. Zacks has also given Republic Bancorp an industry rank of 196 out of 265 based on the ratings given to related companies.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Republic Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. Hovde Group lowered shares of Republic Bancorp from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $39.00 to $41.00 in a research report on Wednesday, October 4th. Finally, ValuEngine downgraded shares of Republic Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, November 25th.
Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Friday, October 20th. The bank reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. Republic Bancorp had a net margin of 19.02% and a return on equity of 8.18%. The company had revenue of $58.68 million for the quarter. equities research analysts predict that Republic Bancorp will post 2.44 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.16%. Republic Bancorp’s dividend payout ratio is presently 36.21%.
In other news, EVP Steven E. Deweese sold 7,000 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were 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 in the company, valued at $1,398,715. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 52.30% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Glenview Trust Co raised its holdings in shares of Republic Bancorp by 1.7% in the second quarter. Glenview Trust Co now owns 17,548 shares of the bank’s stock worth $626,000 after buying an additional 300 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Republic Bancorp by 6.0% in the second quarter. The Manufacturers Life Insurance Company now owns 7,936 shares of the bank’s stock worth $283,000 after buying an additional 449 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in shares of Republic Bancorp by 1.7% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 29,997 shares of the bank’s stock worth $1,070,000 after buying an additional 500 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Republic Bancorp by 0.6% in the second quarter. Alliancebernstein L.P. now owns 79,080 shares of the bank’s stock worth $2,823,000 after buying an additional 500 shares during the last quarter. Finally, Seizert Capital Partners LLC raised its holdings in shares of Republic Bancorp by 1.3% in the second quarter. Seizert Capital Partners LLC now owns 89,459 shares of the bank’s stock worth $3,194,000 after buying an additional 1,141 shares during the last quarter. Institutional investors own 24.42% of the company’s stock.
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About Republic Bancorp
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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