Republic Bancorp (NASDAQ:RBCAA) Shares Down 2.5%

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares fell 2.5% during mid-day trading on Thursday . The company traded as low as $49.28 and last traded at $49.28. 1,364 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 16,891 shares. The stock had previously closed at $50.56.

Analyst Upgrades and Downgrades

Separately, Hovde Group began coverage on Republic Bancorp in a report on Monday, March 4th. They issued an “outperform” rating for the company.

Republic Bancorp Trading Up 0.9 %

The company has a market capitalization of $989.40 million, a price-to-earnings ratio of 10.99 and a beta of 0.56. The company has a 50-day moving average price of $50.02 and a 200-day moving average price of $48.49. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 0.42.

Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, January 26th. The bank reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.28. Republic Bancorp had a net margin of 21.16% and a return on equity of 10.39%. The business had revenue of $105.57 million during the quarter.

Republic Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.407 per share. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date is Thursday, March 14th. This represents a $1.63 dividend on an annualized basis and a yield of 3.19%. Republic Bancorp’s dividend payout ratio (DPR) is currently 35.43%.

Insiders Place Their Bets

In other news, Director Michael T. Rust sold 1,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $47.43, for a total transaction of $66,402.00. Following the completion of the sale, the director now owns 20,772 shares of the company’s stock, valued at $985,215.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 55.50% of the company’s stock.

Hedge Funds Weigh In On Republic Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in RBCAA. Dimensional Fund Advisors LP increased its stake in shares of Republic Bancorp by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 927,375 shares of the bank’s stock worth $51,155,000 after purchasing an additional 15,040 shares during the last quarter. BlackRock Inc. grew its stake in Republic Bancorp by 1.9% in the 2nd quarter. BlackRock Inc. now owns 812,901 shares of the bank’s stock valued at $34,548,000 after buying an additional 15,221 shares during the last quarter. Vanguard Group Inc. grew its stake in Republic Bancorp by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 503,196 shares of the bank’s stock valued at $19,273,000 after buying an additional 3,228 shares during the last quarter. Morgan Stanley grew its stake in Republic Bancorp by 1.8% in the 4th quarter. Morgan Stanley now owns 455,389 shares of the bank’s stock valued at $18,635,000 after buying an additional 7,995 shares during the last quarter. Finally, State Street Corp grew its stake in Republic Bancorp by 0.7% in the 1st quarter. State Street Corp now owns 204,877 shares of the bank’s stock valued at $8,769,000 after buying an additional 1,520 shares during the last quarter. 24.37% of the stock is owned by institutional investors.

Republic Bancorp Company Profile

Republic Bancorp, Inc, a financial holding company, provides various banking products and services in the United States. It operates in five segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, and Republic Credit Solutions. The company accepts demand, money market accounts, savings, individual retirement accounts, time, brokered, and other certificates of deposit.