Republic Bancorp (NASDAQ:RBCAA) Sets New 1-Year High – Should You Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) reached a new 52-week high during trading on Wednesday . The company traded as high as $91.09 and last traded at $90.43, with a volume of 158161 shares changing hands. The stock had previously closed at $90.30.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RBCAA. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a report on Tuesday, June 9th. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Republic Bancorp currently has an average rating of “Buy”.

Republic Bancorp Price Performance

The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.77 billion, a PE ratio of 13.96 and a beta of 0.58. The stock’s 50-day moving average is $80.86 and its two-hundred day moving average is $74.59.

Republic Bancorp (NASDAQ:RBCAA) last announced its earnings results 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. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.The business had revenue of $114.57 million during the quarter, compared to analyst estimates of $96.60 million.

Republic Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Thursday, June 18th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, June 18th. Republic Bancorp’s dividend payout ratio is 30.56%.

Insiders Place Their Bets

In other Republic Bancorp news, EVP Anthony T. Powell sold 3,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total value of $250,620.00. Following the sale, the executive vice president owned 24,691 shares in the company, valued at $2,062,686.14. This trade represents a 10.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Christy Ames sold 340 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total transaction of $29,886.00. Following the sale, the executive vice president directly owned 6,145 shares of the company’s stock, valued at $540,145.50. This represents a 5.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 55.90% of the company’s stock.

Institutional Investors Weigh In On Republic Bancorp

Several large investors have recently added to or reduced their stakes in RBCAA. First Trust Advisors LP increased its position in shares of Republic Bancorp by 651.0% during the second quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock worth $5,708,000 after acquiring an additional 67,681 shares during the period. Millennium Management LLC boosted its holdings in shares of Republic Bancorp by 172.3% in the third quarter. Millennium Management LLC now owns 63,702 shares of the bank’s stock valued at $4,602,000 after purchasing an additional 40,308 shares during the period. American Century Companies Inc. boosted its holdings in shares of Republic Bancorp by 11.0% in the third 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 during the period. Mercer Global Advisors Inc. ADV bought a new position in Republic Bancorp in the third quarter worth approximately $1,600,000. Finally, Goldman Sachs Group Inc. grew its stake in Republic Bancorp by 41.7% in the fourth 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 in the last quarter. 24.37% of the stock is owned by hedge funds and other institutional investors.

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.