Republic Bancorp, Inc. (RBCAA) Lowered to Hold at ValuEngine
ValuEngine downgraded shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) from a buy rating to a hold rating in a report published on Saturday.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Republic Bancorp from a hold rating to a buy rating and set a $39.00 price objective for the company in a research report on Saturday, September 9th. Hovde Group cut shares of Republic Bancorp from an outperform rating to a market perform rating and lifted their price objective for the stock from $39.00 to $41.00 in a research report on Wednesday, October 4th. Finally, BidaskClub cut shares of Republic Bancorp from a sell rating to a strong sell rating in a research report on Tuesday, August 8th.
Republic Bancorp (NASDAQ:RBCAA) opened at $39.77 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.21 and a quick ratio of 1.21. Republic Bancorp has a 1 year low of $31.97 and a 1 year high of $44.04. The company has a market cap of $829.56, a P/E ratio of 16.37 and a beta of 0.51.
Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Friday, October 20th. The bank reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. Republic Bancorp had a net margin of 19.02% and a return on equity of 8.18%. The company had revenue of $58.68 million during the quarter. equities research analysts forecast that Republic Bancorp will post 2.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, December 15th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.88 annualized dividend and a dividend yield of 2.21%. Republic Bancorp’s dividend payout ratio (DPR) is currently 36.21%.
In related news, EVP Steven E. Deweese sold 7,000 shares of Republic Bancorp stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $41.00, for a total transaction of $287,000.00. Following the sale, the executive vice president now directly owns 34,115 shares in the company, valued at approximately $1,398,715. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven E. Deweese sold 1,115 shares of Republic Bancorp stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $35.49, for a total transaction of $39,571.35. Following the sale, the executive vice president now owns 41,630 shares in the company, 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.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Republic Bancorp by 5.4% in the first quarter. Vanguard Group Inc. now owns 390,308 shares of the bank’s stock valued at $13,423,000 after purchasing an additional 19,998 shares during the period. Dimensional Fund Advisors LP increased its stake in Republic Bancorp by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 769,928 shares of the bank’s stock valued at $27,487,000 after purchasing an additional 22,745 shares during the period. Bank of America Corp DE increased its stake in Republic Bancorp by 0.4% in the first quarter. Bank of America Corp DE now owns 93,652 shares of the bank’s stock valued at $3,221,000 after purchasing an additional 414 shares during the period. American International Group Inc. increased its stake in Republic Bancorp by 7.1% in the first quarter. American International Group Inc. now owns 5,947 shares of the bank’s stock valued at $205,000 after purchasing an additional 392 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Republic Bancorp by 24.1% in the first quarter. Goldman Sachs Group Inc. now owns 25,163 shares of the bank’s stock valued at $865,000 after purchasing an additional 4,892 shares during the period. Hedge funds and other institutional investors own 24.45% of the company’s stock.
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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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