State Board of Administration of Florida Retirement System Continues to Hold Position in Republic Bancorp Inc. (RBCAA)
State Board of Administration of Florida Retirement System continued to hold its stake in shares of Republic Bancorp Inc. (NASDAQ:RBCAA) during the second quarter, Holdings Channel reports. The institutional investor owned 9,777 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System’s holdings in Republic Bancorp were worth $270,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Republic Bancorp by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 82,929 shares of the company’s stock worth $2,291,000 after buying an additional 4,604 shares during the last quarter. AXA raised its position in Republic Bancorp by 312.7% in the first quarter. AXA now owns 26,000 shares of the company’s stock worth $672,000 after buying an additional 19,700 shares during the last quarter. KBC Group NV raised its position in Republic Bancorp by 225.7% in the second quarter. KBC Group NV now owns 3,671 shares of the company’s stock worth $101,000 after buying an additional 2,544 shares during the last quarter. Stadium Capital Management LLC raised its position in Republic Bancorp by 19.0% in the first quarter. Stadium Capital Management LLC now owns 442,776 shares of the company’s stock worth $11,437,000 after buying an additional 70,745 shares during the last quarter. Finally, Virginia Retirement System purchased a new position in Republic Bancorp during the first quarter worth $332,000. Institutional investors own 24.31% of the company’s stock.
Republic Bancorp Inc. (NASDAQ:RBCAA) traded down 0.50% during trading on Friday, hitting $29.81. 9,045 shares of the stock traded hands. Republic Bancorp Inc. has a 52-week low of $23.00 and a 52-week high of $33.26. The stock has a 50 day moving average price of $31.08 and a 200-day moving average price of $28.78. The stock has a market cap of $621.90 million, a P/E ratio of 15.97 and a beta of 0.72.
Republic Bancorp (NASDAQ:RBCAA) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Republic Bancorp Inc. will post $2.04 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, September 16th will be given a dividend of $0.209 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Wednesday, September 14th. Republic Bancorp’s dividend payout ratio is presently 44.68%.
Separately, Zacks Investment Research downgraded shares of Republic Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 11th.
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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