Republic Bancorp (NASDAQ:RBCAA) Shares Gap Down – Should You Sell?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares gapped down before the market opened on Monday . The stock had previously closed at $74.28, but opened at $71.67. Republic Bancorp shares last traded at $74.0050, with a volume of 4,408 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Republic Bancorp currently has a consensus rating of “Hold” and an average price target of $69.00.

Republic Bancorp Trading Down 0.4%

The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.45 billion, a P/E ratio of 11.29 and a beta of 0.60. The firm’s 50-day simple moving average is $68.55 and its 200 day simple moving average is $71.33.

Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, October 17th. The bank reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.14. Republic Bancorp had a net margin of 24.53% and a return on equity of 12.23%. The firm had revenue of $93.54 million during the quarter, compared to the consensus estimate of $92.50 million.

Republic Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Friday, December 19th will be paid a dividend of $0.451 per share. The ex-dividend date is Friday, December 19th. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. Republic Bancorp’s dividend payout ratio is presently 27.57%.

Institutional Trading of Republic Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. US Bancorp DE boosted its holdings in Republic Bancorp by 294.7% in the 1st quarter. US Bancorp DE now owns 750 shares of the bank’s stock worth $48,000 after buying an additional 560 shares during the period. Vanguard Group Inc. raised its stake in shares of Republic Bancorp by 11.7% during the 1st quarter. Vanguard Group Inc. now owns 575,166 shares of the bank’s stock valued at $36,707,000 after purchasing an additional 60,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Republic Bancorp by 16.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,244 shares of the bank’s stock worth $398,000 after purchasing an additional 871 shares in the last quarter. Nuveen LLC purchased a new position in Republic Bancorp during the 1st quarter valued at about $1,380,000. Finally, American Century Companies Inc. increased its position in shares of Republic Bancorp by 12.8% during the first quarter. American Century Companies Inc. now owns 210,003 shares of the bank’s stock valued at $13,402,000 after buying an additional 23,886 shares during the period. Institutional investors own 24.37% of the company’s stock.

About Republic Bancorp

Republic Bancorp, Inc operates as a bank holding company for Republic Bank & Trust Company that provides various banking products and services in the United States. It operates in six segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions.