Republic Bancorp (NASDAQ:RBCAA) Trading 2% Higher – Time to Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price traded up 2% on Friday . The stock traded as high as $73.39 and last traded at $73.39. 1,789 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 17,638 shares. The stock had previously closed at $71.93.

Analysts Set New Price Targets

Separately, Hovde Group downgraded Republic Bancorp from an “outperform” rating to a “market perform” rating and increased their price objective for the stock from $78.00 to $80.00 in a research note on Wednesday, November 13th.

Republic Bancorp Price Performance

The stock has a market capitalization of $1.34 billion, a PE ratio of 13.15 and a beta of 0.54. 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 stock’s 50-day moving average is $73.48 and its 200 day moving average is $64.58.

Republic Bancorp (NASDAQ:RBCAA) last announced its earnings results on Friday, October 18th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%. The business had revenue of $118.36 million for the quarter.

Republic Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, December 20th will be issued a $0.407 dividend. This represents a $1.63 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, December 20th. Republic Bancorp’s dividend payout ratio (DPR) is presently 30.80%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in shares of Republic Bancorp by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,927 shares of the bank’s stock worth $4,124,000 after purchasing an additional 1,226 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Republic Bancorp in the 2nd quarter worth approximately $67,000. CM Management LLC grew its position in Republic Bancorp by 16.7% during the 2nd quarter. CM Management LLC now owns 35,000 shares of the bank’s stock worth $1,876,000 after acquiring an additional 5,000 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Republic Bancorp by 113.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 21,205 shares of the bank’s stock valued at $1,137,000 after purchasing an additional 11,290 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Republic Bancorp during the 2nd quarter valued at $87,000. 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.