Republic Bancorp (NASDAQ:RBCAA) Reaches New 52-Week High – Here’s Why

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $91.09 and last traded at $90.43, with a volume of 158161 shares changing hands. The stock had previously closed at $90.30.

Wall Street Analyst Weigh In

RBCAA has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Republic Bancorp currently has a consensus rating of “Buy”.

Republic Bancorp Trading Down 1.4%

The firm has a market capitalization of $1.80 billion, a P/E ratio of 14.12 and a beta of 0.56. The stock has a 50-day simple moving average of $81.58 and a two-hundred day simple moving average of $74.85. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.63. Republic Bancorp had a net margin of 25.22% and a return on equity of 11.32%. The company had revenue of $114.57 million during the quarter, compared to analyst estimates of $96.60 million.

Republic Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, June 18th will be given a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, June 18th. Republic Bancorp’s dividend payout ratio is presently 30.56%.

Insider Buying and Selling

In related news, EVP Anthony T. Powell sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total value of $250,620.00. Following the completion of the transaction, the executive vice president owned 24,691 shares of the company’s stock, valued at $2,062,686.14. The trade was a 10.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christy Ames sold 340 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total value of $29,886.00. Following the sale, the executive vice president directly owned 6,145 shares in the company, valued at $540,145.50. This trade represents a 5.24% decrease in their position. The SEC filing for this sale provides additional information. 55.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quarry LP bought a new stake in Republic Bancorp during the third quarter valued at about $27,000. Russell Investments Group Ltd. boosted its stake in Republic Bancorp by 2,561.3% in the third quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock valued at $60,000 after acquiring an additional 794 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Republic Bancorp in the second quarter valued at approximately $121,000. CANADA LIFE ASSURANCE Co grew its holdings in Republic Bancorp by 541.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,757 shares of the bank’s stock worth $121,000 after purchasing an additional 1,483 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Republic Bancorp by 46.4% during the second quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after purchasing an additional 598 shares in the last quarter. 24.37% of the stock is owned by institutional investors.

About Republic Bancorp

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp’s branch network spans key markets in the U.S.