Republic Bancorp, Inc. (RBCAA) Downgraded by Zacks Investment Research
Zacks Investment Research cut shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) from a buy rating to a hold rating in a report released on Saturday.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Separately, BidaskClub downgraded shares of Republic Bancorp from a sell rating to a strong sell rating in a report on Tuesday, August 8th.
Shares of Republic Bancorp (RBCAA) opened at 39.12 on Friday. The firm’s 50-day moving average price is $35.98 and its 200 day moving average price is $35.29. The stock has a market capitalization of $815.96 million, a P/E ratio of 16.44 and a beta of 0.52. Republic Bancorp has a 12-month low of $28.56 and a 12-month high of $40.74.
Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.48 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. The business had revenue of $56.06 million during the quarter. Republic Bancorp had a net margin of 19.33% and a return on equity of 8.14%. Analysts predict that Republic Bancorp will post $2.34 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, September 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.25%. Republic Bancorp’s payout ratio is presently 36.82%.
In related news, EVP Steven E. Deweese sold 1,000 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $34.50, for a total transaction of $34,500.00. Following the completion of the transaction, the executive vice president now directly owns 42,230 shares in the company, valued at approximately $1,456,935. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven E. Deweese sold 1,115 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $35.49, for a total transaction of $39,571.35. Following the transaction, the executive vice president now owns 41,630 shares of the company’s stock, valued at $1,477,448.70. The disclosure for this sale can be found here. 52.30% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of RBCAA. SG Americas Securities LLC bought a new stake in Republic Bancorp in the 2nd quarter valued at $165,000. Globeflex Capital L P acquired a new stake in Republic Bancorp in the 1st quarter worth $190,000. American International Group Inc. grew its position in Republic Bancorp by 7.1% in the 1st quarter. American International Group Inc. now owns 5,947 shares of the bank’s stock worth $205,000 after purchasing an additional 392 shares during the last quarter. KBC Group NV grew its position in Republic Bancorp by 98.3% in the 1st quarter. KBC Group NV now owns 7,914 shares of the bank’s stock worth $272,000 after purchasing an additional 3,924 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Republic Bancorp by 6.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,936 shares of the bank’s stock worth $283,000 after purchasing an additional 449 shares during the period. 24.29% of the stock is owned by hedge funds and other institutional investors.
About Republic Bancorp
Republic Bancorp, Inc is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc (the Captive). The Bank is a Kentucky-based, state chartered non-member financial institution. The Captive is an insurance subsidiary of the Company. The Company operates through four segments: Traditional Banking, which provides traditional banking products to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the United States through mortgage warehouse lines of credit; Mortgage Banking, which originates, sells and services long-term, single family, first lien residential real estate loans, and Republic Processing Group (RPG), which facilitates the receipt and payment of federal and state tax refund products.
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