Republic Bancorp (NASDAQ:RBCAA) Reaches New 1-Year High – Here’s What Happened

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares hit a new 52-week high during trading on Friday . The company traded as high as $85.18 and last traded at $84.7460, with a volume of 19014 shares traded. The stock had previously closed at $84.18.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Republic Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Republic Bancorp presently has a consensus rating of “Moderate Buy”.

Republic Bancorp Price Performance

The firm has a market cap of $1.66 billion, a PE ratio of 13.04 and a beta of 0.58. The firm has a fifty day simple moving average of $75.94 and a two-hundred day simple moving average of $72.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.06.

Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.63. The business had revenue of $114.57 million during the quarter, compared to analyst estimates of $96.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.

Republic Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, June 18th will be paid a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, June 18th. Republic Bancorp’s dividend payout ratio (DPR) is presently 30.56%.

Institutional Investors Weigh In On Republic Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its position in Republic Bancorp by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 928,367 shares of the bank’s stock valued at $65,496,000 after purchasing an additional 5,656 shares in the last quarter. American Century Companies Inc. raised its position in Republic Bancorp by 11.0% during the 3rd quarter. American Century Companies Inc. now owns 265,298 shares of the bank’s stock valued at $19,168,000 after purchasing an additional 26,319 shares in the last quarter. State Street Corp raised its position in Republic Bancorp by 1.0% during the 4th quarter. State Street Corp now owns 218,872 shares of the bank’s stock valued at $15,195,000 after purchasing an additional 2,208 shares in the last quarter. Bridgeway Capital Management LLC raised its position in Republic Bancorp by 5.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 123,097 shares of the bank’s stock valued at $8,492,000 after purchasing an additional 6,189 shares in the last quarter. Finally, Empowered Funds LLC raised its position in Republic Bancorp by 6.1% during the 1st quarter. Empowered Funds LLC now owns 78,246 shares of the bank’s stock valued at $5,520,000 after purchasing an additional 4,511 shares in the last quarter. 24.37% of the stock is owned by institutional investors.

About Republic Bancorp

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp’s branch network spans key markets in the U.S.