Republic Bancorp Inc. (RBCAA) Rating Lowered to Hold at Zacks Investment Research
Republic Bancorp Inc. (NASDAQ:RBCAA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Shares of Republic Bancorp (NASDAQ:RBCAA) opened at 30.82 on Tuesday. The company has a market cap of $642.97 million, a PE ratio of 16.51 and a beta of 0.72. The firm’s 50-day moving average is $31.19 and its 200-day moving average is $28.74. Republic Bancorp has a one year low of $23.00 and a one year high of $33.26.
Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.04. Republic Bancorp had a net margin of 18.78% and a return on equity of 6.70%. On average, equities analysts anticipate that Republic Bancorp will post $2.04 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, September 16th will be issued a dividend of $0.209 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, September 14th. Republic Bancorp’s payout ratio is 44.68%.
A number of large investors have recently modified their holdings of RBCAA. KBC Group NV boosted its stake in shares of Republic Bancorp by 225.7% in the second quarter. KBC Group NV now owns 3,671 shares of the company’s stock valued at $101,000 after buying an additional 2,544 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Republic Bancorp by 80.6% in the second quarter. Panagora Asset Management Inc. now owns 4,345 shares of the company’s stock valued at $120,000 after buying an additional 1,939 shares in the last quarter. Huntington Asset Advisors Inc. bought a new stake in shares of Republic Bancorp during the first quarter valued at about $161,000. BlackRock Inc. boosted its stake in shares of Republic Bancorp by 620.7% in the second quarter. BlackRock Inc. now owns 6,962 shares of the company’s stock valued at $192,000 after buying an additional 5,996 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its stake in shares of Republic Bancorp by 20.5% in the second quarter. BlackRock Advisors LLC now owns 7,970 shares of the company’s stock valued at $220,000 after buying an additional 1,354 shares in the last quarter. Institutional investors own 24.31% of the company’s stock.
About Republic Bancorp
Republic Bancorp, Inc (Republic) 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. It operates in four segments: Traditional Banking, which provides traditional banking products primarily to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the Nation; 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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