Republic Bancorp (NASDAQ:RBCAA) Hits New 12-Month High on Earnings Beat

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares reached a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $93.88 and last traded at $93.87, with a volume of 33431 shares. The stock had previously closed at $90.76.

The bank reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.13. The company had revenue of $101.27 million for the quarter, compared to analyst estimates of $97.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.

Republic Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, September 18th will be issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, September 18th. Republic Bancorp’s payout ratio is currently 30.56%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Republic Bancorp to a “hold” rating in a research report on Monday, July 13th. Wall Street Zen upgraded shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Insider Buying and Selling

In other Republic Bancorp news, EVP Christy Ames sold 340 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total value of $29,886.00. Following the sale, the executive vice president directly owned 6,145 shares in the company, valued at approximately $540,145.50. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Anthony T. Powell sold 3,000 shares of the firm’s 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 directly owned 24,691 shares in the company, valued at $2,062,686.14. The trade was a 10.83% decrease in their position. The SEC filing for this sale provides additional information. 55.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Republic Bancorp

A number of large investors have recently bought and sold shares of RBCAA. First Trust Advisors LP grew its holdings in shares of Republic Bancorp by 651.0% in the 2nd quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock valued at $5,708,000 after acquiring an additional 67,681 shares in the last quarter. Millennium Management LLC boosted its position in Republic Bancorp by 172.3% during 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 last quarter. Mercer Global Advisors Inc. ADV bought a new position in Republic Bancorp in the third quarter valued at approximately $1,600,000. 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 valued at $4,155,000 after purchasing an additional 17,709 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Republic Bancorp by 3,384.5% during the 2nd quarter. Lazard Asset Management LLC now owns 18,154 shares of the bank’s stock worth $1,327,000 after purchasing an additional 17,633 shares during the last quarter. Institutional investors and hedge funds own 24.37% of the company’s stock.

Republic Bancorp Price Performance

The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 14.50 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. The company has a 50-day simple moving average of $85.83 and a two-hundred day simple moving average of $76.84.

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.