Republic Bancorp (NASDAQ:RBCAA) Sets New 12-Month High – Time to Buy?

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) hit a new 52-week high on Thursday . The company traded as high as $88.84 and last traded at $88.0280, with a volume of 8525 shares trading hands. The stock had previously closed at $87.87.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a report on Tuesday, June 9th. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Republic Bancorp Stock Performance

The firm’s fifty day simple moving average is $79.63 and its 200 day simple moving average is $74.05. The company has a market capitalization of $1.72 billion, a PE ratio of 13.57 and a beta of 0.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 1.05.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.63. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.The business had revenue of $114.57 million during the quarter, compared to analyst estimates of $96.60 million.

Republic Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Thursday, June 18th will be given a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 2.3%. The ex-dividend date is Thursday, June 18th. Republic Bancorp’s dividend payout ratio (DPR) is currently 30.56%.

Insider Activity at Republic Bancorp

In other Republic Bancorp news, EVP Anthony T. Powell sold 3,000 shares of the company’s 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 sale, the executive vice president owned 24,691 shares in the company, valued at approximately $2,062,686.14. This represents a 10.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Christy Ames sold 340 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total transaction of $29,886.00. Following the sale, the executive vice president directly owned 6,145 shares in the company, valued at $540,145.50. The trade was a 5.24% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 55.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Republic Bancorp during the 3rd quarter worth about $27,000. Russell Investments Group Ltd. increased its stake in shares of Republic Bancorp by 2,561.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 825 shares of the bank’s stock valued at $60,000 after purchasing an additional 794 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Republic Bancorp in the 2nd quarter worth about $121,000. CANADA LIFE ASSURANCE Co raised its holdings in Republic Bancorp by 541.2% in the 4th 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. Finally, BNP Paribas Financial Markets boosted its position in Republic Bancorp by 46.4% during the second quarter. BNP Paribas Financial Markets now owns 1,887 shares of the bank’s stock worth $138,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds own 24.37% of the company’s stock.

About Republic Bancorp

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.