Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase – Should You Buy?

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) saw an uptick in trading volume on Monday . 59,860 shares changed hands during mid-day trading, an increase of 72% from the previous session’s volume of 34,767 shares.The stock last traded at $69.8770 and had previously closed at $71.88.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a report on Thursday, January 22nd. Wall Street Zen cut Republic Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.00.

Republic Bancorp Price Performance

The firm has a market capitalization of $1.39 billion, a PE ratio of 10.56 and a beta of 0.60. The firm’s fifty day moving average price is $71.38 and its 200 day moving average price is $71.31. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35.

Republic Bancorp (NASDAQ:RBCAA) last posted its earnings results on Friday, January 30th. The bank reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.13). The business had revenue of $94.27 million for the quarter, compared to analyst estimates of $92.50 million. Republic Bancorp had a net margin of 25.19% and a return on equity of 12.39%.

Republic Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Friday, March 20th will be given a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.8%. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, March 20th. Republic Bancorp’s payout ratio is currently 26.79%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. First Trust Advisors LP raised its position in shares of Republic Bancorp by 651.0% during the 2nd quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock worth $5,708,000 after purchasing an additional 67,681 shares during the last quarter. Millennium Management LLC lifted its position in shares of Republic Bancorp by 172.3% in the third quarter. Millennium Management LLC now owns 63,702 shares of the bank’s stock valued at $4,602,000 after acquiring an additional 40,308 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Republic Bancorp by 13.8% in the second quarter. American Century Companies Inc. now owns 238,979 shares of the bank’s stock worth $17,472,000 after acquiring an additional 28,976 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Republic Bancorp in the third quarter worth approximately $1,600,000. Finally, Geode Capital Management LLC increased its position in shares of Republic Bancorp by 9.0% during the second quarter. Geode Capital Management LLC now owns 234,101 shares of the bank’s stock worth $17,118,000 after purchasing an additional 19,271 shares in the last quarter. 24.37% of the stock is owned by institutional investors and hedge funds.

Republic Bancorp Company Profile

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.