Republic Bancorp (NASDAQ:RBCAA) Sees Large Volume Increase – Still a Buy?

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares saw strong trading volume on Tuesday . Approximately 45,240 shares were traded during trading, a decline of 36% from the previous session’s volume of 71,113 shares.The stock last traded at $90.3620 and had previously closed at $90.30.

Analysts Set New Price Targets

RBCAA has been the topic of a number of recent research reports. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy”.

Republic Bancorp Stock Down 0.2%

The firm’s 50 day moving average price is $80.56 and its two-hundred day moving average price is $74.47. The firm has a market capitalization of $1.77 billion, a PE ratio of 13.91 and a beta of 0.58. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.32.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.63. Republic Bancorp had a net margin of 25.22% and a return on equity of 11.32%. The firm had revenue of $114.57 million for the quarter, compared to the consensus estimate of $96.60 million.

Republic Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, June 18th. Republic Bancorp’s payout ratio is presently 30.56%.

Insider Activity

In related news, EVP Christy Ames sold 340 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $540,145.50. This represents a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 sale, the executive vice president owned 24,691 shares in the company, valued at $2,062,686.14. This represents a 10.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 55.90% of the company’s stock.

Institutional Trading of Republic Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in Republic Bancorp by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 928,367 shares of the bank’s stock worth $65,496,000 after acquiring an additional 5,656 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Republic Bancorp by 11.0% in the 3rd quarter. American Century Companies Inc. now owns 265,298 shares of the bank’s stock valued at $19,168,000 after purchasing an additional 26,319 shares in the last quarter. State Street Corp lifted its position in shares of Republic Bancorp by 1.0% during the fourth quarter. State Street Corp now owns 218,872 shares of the bank’s stock worth $15,195,000 after purchasing an additional 2,208 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in Republic Bancorp by 5.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 123,097 shares of the bank’s stock valued at $8,492,000 after buying an additional 6,189 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Republic Bancorp by 6.1% in the first quarter. Empowered Funds LLC now owns 78,246 shares of the bank’s stock valued at $5,520,000 after buying an additional 4,511 shares during the last quarter. 24.37% of the stock is owned by institutional investors and hedge funds.

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.