Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase – Time to Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares saw unusually-strong trading volume on Thursday . Approximately 18,284 shares were traded during mid-day trading, an increase of 1% from the previous session’s volume of 18,154 shares.The stock last traded at $65.38 and had previously closed at $64.48.

Analyst Ratings Changes

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

Republic Bancorp Trading Down 2.6 %

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.12. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 12.32 and a beta of 0.46. The company’s 50 day moving average is $66.19 and its 200 day moving average is $68.56.

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

Republic Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be issued a dividend of $0.451 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Friday, March 21st. This is a positive change from Republic Bancorp’s previous quarterly dividend of $0.41. Republic Bancorp’s dividend payout ratio (DPR) is presently 34.42%.

Insider Activity at Republic Bancorp

In other Republic Bancorp news, EVP John T. Rippy sold 3,082 shares of Republic Bancorp stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total transaction of $203,381.18. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David P. Feaster sold 1,406 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $66.42, for a total value of $93,386.52. Following the completion of the transaction, the director now directly owns 4,303 shares of the company’s stock, valued at approximately $285,805.26. The trade was a 24.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 55.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Republic Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Republic Bancorp by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the bank’s stock worth $329,000 after purchasing an additional 164 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Republic Bancorp by 1.4% during the third quarter. Cerity Partners LLC now owns 12,501 shares of the bank’s stock worth $816,000 after buying an additional 167 shares in the last quarter. Meridian Wealth Management LLC raised its stake in shares of Republic Bancorp by 3.3% in the fourth quarter. Meridian Wealth Management LLC now owns 6,184 shares of the bank’s stock valued at $432,000 after acquiring an additional 200 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Republic Bancorp by 12.1% in the fourth quarter. MetLife Investment Management LLC now owns 5,008 shares of the bank’s stock valued at $350,000 after acquiring an additional 539 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Republic Bancorp by 3.4% in the 4th quarter. Invesco Ltd. now owns 16,889 shares of the bank’s stock worth $1,180,000 after acquiring an additional 560 shares in the last quarter. Institutional investors and hedge funds 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.