Republic Bancorp Inc. (RBCAA) Stake Boosted by California Public Employees Retirement System
California Public Employees Retirement System increased its position in Republic Bancorp Inc. (NASDAQ:RBCAA) by 10.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 36,800 shares of the company’s stock after buying an additional 3,500 shares during the period. California Public Employees Retirement System owned 0.18% of Republic Bancorp worth $1,017,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. KBC Group NV raised its stake in 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 during the period. Stock Yards Bank & Trust Co. acquired a new stake in Republic Bancorp during the second quarter valued at $221,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in Republic Bancorp by 6.1% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 10,452 shares of the company’s stock valued at $270,000 after buying an additional 600 shares during the period. Virginia Retirement System acquired a new stake in Republic Bancorp during the first quarter valued at $332,000. Finally, Prudential Financial Inc. raised its stake in Republic Bancorp by 3.7% in the first quarter. Prudential Financial Inc. now owns 22,487 shares of the company’s stock valued at $581,000 after buying an additional 800 shares during the period. Institutional investors own 24.31% of the company’s stock.
Shares of Republic Bancorp Inc. (NASDAQ:RBCAA) traded down 0.287% during mid-day trading on Tuesday, hitting $29.555. The stock had a trading volume of 7,360 shares. The firm has a 50 day moving average price of $31.02 and a 200-day moving average price of $28.85. The stock has a market cap of $616.58 million, a P/E ratio of 15.830 and a beta of 0.72. Republic Bancorp Inc. has a 12 month low of $23.00 and a 12 month high of $33.26.
Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings results on Friday, July 22nd. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Republic Bancorp had a return on equity of 6.70% and a net margin of 18.78%. On average, equities research analysts forecast that Republic Bancorp Inc. 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 given a dividend of $0.209 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.82%. Republic Bancorp’s dividend payout ratio is presently 44.68%.
Separately, Zacks Investment Research lowered Republic Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 11th.
Republic Bancorp Company Profile
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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