Republic Bancorp (NASDAQ:RBCAA) Reaches New 52-Week High on Better-Than-Expected Earnings

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $93.88 and last traded at $93.87, with a volume of 33431 shares trading hands. The stock had previously closed at $90.76.

The bank reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.13. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.The firm had revenue of $101.27 million for the quarter, compared to analysts’ expectations of $97.60 million.

Republic Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 18th will be issued a dividend of $0.495 per share. The ex-dividend date is Friday, September 18th. This represents a $1.98 annualized dividend and a yield of 2.1%. Republic Bancorp’s dividend payout ratio is currently 30.56%.

Analyst Upgrades and Downgrades

RBCAA has been the topic of a number of analyst reports. Zacks Research raised Republic Bancorp to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen raised Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Republic Bancorp currently has a consensus rating of “Moderate Buy”.

Insider Activity

In other news, EVP Christy Ames sold 340 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $87.90, for a total transaction of $29,886.00. Following the completion of the transaction, the executive vice president directly owned 6,145 shares of the company’s stock, valued at approximately $540,145.50. This represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Anthony T. Powell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total value of $250,620.00. Following the completion of the sale, the executive vice president directly owned 24,691 shares in the company, valued at $2,062,686.14. The trade was a 10.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 55.90% of the company’s stock.

Institutional Investors Weigh In On Republic Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of Republic Bancorp during the third quarter valued at approximately $27,000. Russell Investments Group Ltd. lifted its stake in Republic Bancorp by 2,561.3% in the third quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock worth $60,000 after acquiring an additional 794 shares during the period. Raymond James Financial Inc. purchased a new stake in Republic Bancorp in the second quarter worth $121,000. CANADA LIFE ASSURANCE Co boosted its holdings in Republic Bancorp by 541.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock valued at $121,000 after acquiring an additional 1,483 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Republic Bancorp by 46.4% in the second quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock valued at $138,000 after acquiring an additional 598 shares in the last quarter. Hedge funds and other institutional investors own 24.37% of the company’s stock.

Republic Bancorp Trading Up 3.2%

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.06. The stock’s 50-day simple moving average is $86.20 and its 200-day simple moving average is $76.96. The firm has a market capitalization of $1.84 billion, a PE ratio of 14.29 and a beta of 0.56.

Republic Bancorp Company Profile

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.