Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase – Still a Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares saw strong trading volume on Tuesday . Approximately 45,240 shares were traded during trading, a decline of 36% from the previous session’s volume of 71,113 shares.The stock last traded at $90.3620 and had previously closed at $90.30.

Analyst Upgrades and Downgrades

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

Republic Bancorp Stock Up 2.6%

The business’s 50 day moving average price is $81.22 and its 200-day moving average price is $74.72. The firm has a market capitalization of $1.82 billion, a PE ratio of 14.32 and a beta of 0.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.06.

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

Republic Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, June 18th. Republic Bancorp’s dividend payout ratio (DPR) is currently 30.56%.

Insider Buying and Selling at Republic Bancorp

In related news, EVP Christy Ames sold 340 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $87.90, for a total transaction of $29,886.00. Following the transaction, the executive vice president owned 6,145 shares of the company’s stock, valued at approximately $540,145.50. This represents a 5.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony T. Powell sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total value of $250,620.00. Following the transaction, the executive vice president owned 24,691 shares of the company’s stock, valued at $2,062,686.14. This trade represents a 10.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 55.90% of the company’s stock.

Institutional Trading of Republic Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of Republic Bancorp in the third quarter valued at approximately $27,000. Russell Investments Group Ltd. increased its stake in Republic Bancorp by 2,561.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock worth $60,000 after buying an additional 794 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Republic Bancorp by 541.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock worth $121,000 after buying an additional 1,483 shares during the period. Raymond James Financial Inc. acquired a new stake in Republic Bancorp during the 2nd quarter worth approximately $121,000. Finally, BNP Paribas Financial Markets lifted its holdings in Republic Bancorp by 46.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after buying an additional 598 shares in the last quarter. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

About Republic Bancorp

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.