Republic Bancorp (NASDAQ:RBCAA) Stock Rating Upgraded by Zacks Research

Republic Bancorp (NASDAQ:RBCAA) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. Wall Street Zen upgraded shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Republic Bancorp currently has a consensus rating of “Moderate Buy”.

Republic Bancorp Trading Up 0.1%

Republic Bancorp stock opened at $88.48 on Monday. Republic Bancorp has a 12 month low of $63.97 and a 12 month high of $93.54. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 13.65 and a beta of 0.56. The business’s fifty day simple moving average is $83.83 and its two-hundred day simple moving average is $75.78. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.63. The firm had revenue of $114.57 million during the quarter, compared to the consensus estimate of $96.60 million. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%. As a group, equities analysts predict that Republic Bancorp will post 6.65 earnings per share for the current fiscal year.

Insider Transactions at Republic Bancorp

In other news, EVP Christy Ames sold 340 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total transaction of $29,886.00. Following the completion of the transaction, the executive vice president directly owned 6,145 shares of the company’s stock, valued at $540,145.50. The trade was a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony T. Powell sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total transaction of $250,620.00. Following the transaction, the executive vice president owned 24,691 shares in the company, valued at approximately $2,062,686.14. This trade represents a 10.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 55.90% of the company’s stock.

Institutional Trading of Republic Bancorp

Several large investors have recently modified their holdings of RBCAA. JPMorgan Chase & Co. boosted its position in Republic Bancorp by 52.9% in the third quarter. JPMorgan Chase & Co. now owns 23,236 shares of the bank’s stock worth $1,679,000 after purchasing an additional 8,037 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Republic Bancorp during the 1st quarter valued at about $956,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Republic Bancorp by 22.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,444 shares of the bank’s stock worth $314,000 after purchasing an additional 820 shares during the period. Fifth Third Bancorp bought a new position in shares of Republic Bancorp in the 1st quarter worth approximately $384,000. Finally, Formidable Asset Management LLC boosted its holdings in shares of Republic Bancorp by 0.6% in the fourth quarter. Formidable Asset Management LLC now owns 30,776 shares of the bank’s stock worth $2,224,000 after buying an additional 184 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.