Republic Bancorp (NASDAQ:RBCAA) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $71.93 and traded as high as $82.37. Republic Bancorp shares last traded at $82.36, with a volume of 97,727 shares.

Wall Street Analysts Forecast Growth

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

Republic Bancorp Trading Up 3.2%

The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.71 and a beta of 0.58. The company has a fifty day moving average price of $74.78 and a two-hundred day moving average price of $71.93. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32.

Republic Bancorp (NASDAQ:RBCAA) last issued its earnings results on Thursday, April 23rd. The bank reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.63. The business had revenue of $114.57 million for the quarter, compared to analysts’ expectations of $96.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.

Republic Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, June 18th will be issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Thursday, June 18th. Republic Bancorp’s payout ratio is currently 30.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RBCAA. First Trust Advisors LP boosted its holdings in shares of Republic Bancorp by 651.0% during the 2nd quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock worth $5,708,000 after purchasing an additional 67,681 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Republic Bancorp by 172.3% during the 3rd quarter. Millennium Management LLC now owns 63,702 shares of the bank’s stock worth $4,602,000 after purchasing an additional 40,308 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Republic Bancorp by 11.0% during the 3rd quarter. American Century Companies Inc. now owns 265,298 shares of the bank’s stock worth $19,168,000 after purchasing an additional 26,319 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Republic Bancorp during the 3rd quarter worth approximately $1,600,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Republic Bancorp by 41.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 60,225 shares of the bank’s stock worth $4,155,000 after purchasing an additional 17,709 shares during the last quarter. 24.37% of the stock is currently owned by institutional investors and hedge funds.

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.