Republic Bancorp (NASDAQ:RBCAA) Sees Unusually-High Trading Volume – Here’s What Happened

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares saw strong trading volume on Monday . 59,860 shares were traded during trading, an increase of 72% from the previous session’s volume of 34,767 shares.The stock last traded at $69.8770 and had previously closed at $71.88.

Analysts Set New Price Targets

RBCAA has been the subject of a number of analyst reports. Wall Street Zen downgraded Republic Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $69.00.

Republic Bancorp Stock Performance

The firm has a market cap of $1.36 billion, a P/E ratio of 10.33 and a beta of 0.60. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.05 and a current ratio of 1.06. The company’s 50 day moving average is $71.64 and its 200 day moving average is $71.29.

Republic Bancorp (NASDAQ:RBCAA) last posted its earnings results on Friday, January 30th. The bank reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.13). Republic Bancorp had a return on equity of 12.39% and a net margin of 25.19%.The company had revenue of $94.27 million for the quarter, compared to the consensus estimate of $92.50 million.

Republic Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Friday, March 20th will be paid a dividend of $0.495 per share. The ex-dividend date of this dividend is Friday, March 20th. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.45. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.9%. Republic Bancorp’s payout ratio is 26.79%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RBCAA. American Century Companies Inc. grew its holdings in 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 acquiring an additional 26,319 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Republic Bancorp by 9.0% in the second quarter. Geode Capital Management LLC now owns 234,101 shares of the bank’s stock worth $17,118,000 after purchasing an additional 19,271 shares during the last quarter. State Street Corp increased its holdings in Republic Bancorp by 1.0% in the fourth quarter. State Street Corp now owns 218,872 shares of the bank’s stock valued at $15,195,000 after purchasing an additional 2,208 shares during the period. Bridgeway Capital Management LLC increased its holdings in Republic Bancorp by 5.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 123,097 shares of the bank’s stock valued at $8,492,000 after purchasing an additional 6,189 shares during the period. Finally, First Trust Advisors LP raised its position in 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. Institutional investors own 24.37% of the company’s stock.

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.