Zacks Investment Research upgraded shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. They currently have $44.00 price objective on the stock.
According to Zacks, “Republic Bancorp, Inc. is a financial holding company. “
Separately, Hovde Group assumed coverage on Republic Bancorp in a report on Friday, December 2nd. They issued a market perform rating and a $39.00 target price on the stock.
Republic Bancorp (NASDAQ:RBCAA) opened at 38.01 on Thursday. The firm has a market capitalization of $792.96 million, a PE ratio of 18.39 and a beta of 0.67. The company has a 50 day moving average price of $38.61 and a 200-day moving average price of $33.05. Republic Bancorp has a one year low of $23.00 and a one year high of $40.74.
Republic Bancorp (NASDAQ:RBCAA) last announced its earnings results on Friday, October 21st. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.38 by $0.09. Republic Bancorp had a return on equity of 7.33% and a net margin of 19.72%. On average, equities analysts predict that Republic Bancorp will post $2.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 20th. Shareholders of record on Friday, December 16th will be issued a dividend of $0.209 per share. This represents a $0.84 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, December 14th. Republic Bancorp’s dividend payout ratio is 40.38%.
In other Republic Bancorp news, EVP Steven E. Deweese sold 5,000 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $35.96, for a total transaction of $179,800.00. Following the transaction, the executive vice president now owns 45,509 shares of the company’s stock, valued at approximately $1,636,503.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 52.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new stake in shares of Republic Bancorp during the third quarter valued at approximately $101,000. Panagora Asset Management Inc. boosted its stake in shares of Republic Bancorp by 80.6% in the second quarter. Panagora Asset Management Inc. now owns 4,345 shares of the company’s stock valued at $120,000 after buying an additional 1,939 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Republic Bancorp during the third quarter valued at approximately $135,000. BlackRock Inc. boosted its stake in shares of Republic Bancorp by 620.7% in the second quarter. BlackRock Inc. now owns 6,962 shares of the company’s stock valued at $192,000 after buying an additional 5,996 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Republic Bancorp during the third quarter valued at approximately $194,000. 24.47% of the stock is currently owned by hedge funds and other institutional investors.
About Republic Bancorp
Republic Bancorp, Inc (Republic) is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc (the Captive). The Bank is a Kentucky-based, state chartered non-member financial institution. The Captive is an insurance subsidiary of the Company. It operates in four segments: Traditional Banking, which provides traditional banking products primarily to customers; Warehouse Lending (Warehouse), which provides short-term, revolving credit facilities to mortgage bankers across the Nation; Mortgage Banking, which originates, sells and services long-term, single family, first lien residential real estate loans, and Republic Processing Group (RPG), which facilitates the receipt and payment of federal and state tax refund products.
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