Hovde Group cut shares of Republic Bancorp (NASDAQ:RBCAA – Free Report) from an outperform rating to a market perform rating in a research note published on Wednesday, MarketBeat.com reports. Hovde Group currently has $80.00 price objective on the bank’s stock, up from their prior price objective of $78.00.
Republic Bancorp Price Performance
Shares of RBCAA stock opened at $76.43 on Wednesday. Republic Bancorp has a twelve month low of $46.00 and a twelve month high of $79.75. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 14.53 and a beta of 0.51. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average is $66.34 and its 200 day moving average is $59.61.
Republic Bancorp (NASDAQ:RBCAA – Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.16. Republic Bancorp had a return on equity of 10.79% and a net margin of 20.65%. The company had revenue of $118.36 million for the quarter.
Insider Transactions at Republic Bancorp
Hedge Funds Weigh In On Republic Bancorp
A number of hedge funds have recently made changes to their positions in the business. Cerity Partners LLC grew its position in shares of Republic Bancorp by 1.4% during the third quarter. Cerity Partners LLC now owns 12,501 shares of the bank’s stock valued at $816,000 after purchasing an additional 167 shares in the last quarter. Inspire Investing LLC increased its stake in Republic Bancorp by 3.6% in the 1st quarter. Inspire Investing LLC now owns 7,076 shares of the bank’s stock worth $361,000 after acquiring an additional 245 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Republic Bancorp by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,405 shares of the bank’s stock valued at $378,000 after acquiring an additional 624 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Republic Bancorp by 2.0% in the third quarter. Empowered Funds LLC now owns 61,825 shares of the bank’s stock valued at $4,037,000 after purchasing an additional 1,204 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Republic Bancorp by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 76,927 shares of the bank’s stock valued at $4,124,000 after purchasing an additional 1,226 shares in the last quarter. Institutional investors own 24.37% of the company’s stock.
About Republic Bancorp
Republic Bancorp, Inc operates as a bank holding company for Republic Bank & Trust Company that provides various banking products and services in the United States. It operates in six segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions.
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