Republic Bancorp (NASDAQ:RBCAA) Sets New 1-Year High – Should You Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price hit a new 52-week high on Friday . The stock traded as high as $93.85 and last traded at $92.3480, with a volume of 10995 shares changing hands. The stock had previously closed at $92.32.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RBCAA. Zacks Research raised Republic Bancorp to a “hold” rating in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a report on Tuesday, June 9th. Finally, Wall Street Zen upgraded Republic Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Republic Bancorp Price Performance

The company has a market cap of $1.81 billion, a P/E ratio of 14.22 and a beta of 0.56. The company’s 50-day moving average price is $84.39 and its two-hundred day moving average price is $76.07. 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 issued its quarterly earnings results on Thursday, April 23rd. The bank reported $2.04 EPS for the quarter, topping the consensus estimate of $1.41 by $0.63. The business had revenue of $114.57 million for the quarter, compared to analysts’ expectations of $96.60 million. Republic Bancorp had a net margin of 25.22% and a return on equity of 11.32%. As a group, sell-side analysts expect that Republic Bancorp, Inc. will post 6.65 earnings per share for the current year.

Republic Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 18th will be paid a dividend of $0.495 per share. The ex-dividend date is Friday, September 18th. This represents a $1.98 annualized dividend and a yield of 2.1%. Republic Bancorp’s dividend payout ratio is presently 30.56%.

Insider Buying and Selling

In other news, EVP Christy Ames sold 340 shares of Republic Bancorp stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total value of $29,886.00. Following the completion of the transaction, the executive vice president owned 6,145 shares in the company, valued at approximately $540,145.50. This trade represents a 5.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony T. Powell sold 3,000 shares of Republic Bancorp stock in a transaction that occurred on Wednesday, June 10th. The stock was 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 approximately $2,062,686.14. The trade was a 10.83% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 55.90% of the company’s stock.

Hedge Funds Weigh In On Republic Bancorp

Several large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Republic Bancorp in the third quarter worth $27,000. Russell Investments Group Ltd. raised its holdings in shares of Republic Bancorp by 2,561.3% during the third quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock worth $60,000 after purchasing an additional 794 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of Republic Bancorp by 541.2% during 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 period. Raymond James Financial Inc. bought a new position in shares of Republic Bancorp in the 2nd quarter worth about $121,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Republic Bancorp by 46.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after buying an additional 598 shares during the last quarter. 24.37% of the stock is currently owned by institutional investors.

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.