Republic Bancorp (NASDAQ:RBCAA) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) saw unusually-high trading volume on Wednesday . Approximately 21,885 shares traded hands during trading, an increase of 24% from the previous session’s volume of 17,691 shares.The stock last traded at $65.44 and had previously closed at $65.08.

Analyst Ratings Changes

Separately, Hovde Group cut their target price on shares of Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating for the company in a research note on Monday, January 27th.

Republic Bancorp Stock Down 1.4 %

The company has a market capitalization of $1.26 billion, a PE ratio of 12.41 and a beta of 0.46. The business has a 50-day moving average of $66.41 and a 200 day moving average of $68.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 1.11.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings data on Friday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%.

Republic Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be paid a $0.451 dividend. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, March 21st. Republic Bancorp’s dividend payout ratio (DPR) is presently 34.42%.

Insider Activity

In related news, EVP John T. Rippy sold 3,082 shares of Republic Bancorp stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $65.99, for a total transaction of $203,381.18. Following the completion of the transaction, the executive vice president now directly owns 23,105 shares of the company’s stock, valued at approximately $1,524,698.95. The trade was a 11.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Feaster sold 1,406 shares of the stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total transaction of $93,386.52. Following the completion of the sale, the director now directly owns 4,303 shares in the company, valued at $285,805.26. This trade represents a 24.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 55.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RBCAA. Vanguard Group Inc. lifted its stake in shares of Republic Bancorp by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 514,866 shares of the bank’s stock worth $35,974,000 after acquiring an additional 19,756 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Republic Bancorp by 4.5% during the third quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock worth $14,345,000 after purchasing an additional 9,430 shares during the last quarter. State Street Corp boosted its stake in shares of Republic Bancorp by 2.2% during the third quarter. State Street Corp now owns 210,298 shares of the bank’s stock valued at $13,816,000 after purchasing an additional 4,429 shares during the period. American Century Companies Inc. grew its holdings in shares of Republic Bancorp by 14.0% in the fourth quarter. American Century Companies Inc. now owns 186,117 shares of the bank’s stock worth $13,004,000 after purchasing an additional 22,818 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Republic Bancorp by 2.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 114,292 shares of the bank’s stock worth $7,986,000 after purchasing an additional 3,105 shares during the last quarter. Hedge funds and other institutional investors own 24.37% of the company’s stock.

Republic Bancorp Company Profile

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.