Republic Bancorp (NASDAQ:RBCAA) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Republic Bancorp (NASDAQ:RBCAA) posted its quarterly earnings data on Friday. The bank reported $1.68 EPS for the quarter, beating the consensus estimate of $1.55 by $0.13, FiscalAI reports. Republic Bancorp had a return on equity of 11.32% and a net margin of 25.22%.The business had revenue of $101.27 million for the quarter, compared to the consensus estimate of $97.60 million.

Republic Bancorp Stock Performance

Shares of NASDAQ RBCAA traded up $2.32 during midday trading on Friday, hitting $93.08. The company’s stock had a trading volume of 27,644 shares, compared to its average volume of 76,830. The stock has a fifty day moving average price of $85.83 and a 200 day moving average price of $76.84. Republic Bancorp has a one year low of $63.97 and a one year high of $93.85. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 14.35 and a beta of 0.56.

Republic Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Friday, September 18th will be paid a $0.495 dividend. The ex-dividend date is Friday, September 18th. This represents a $1.98 annualized dividend and a dividend yield of 2.1%. Republic Bancorp’s dividend payout ratio (DPR) is presently 30.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RBCAA shares. Wall Street Zen raised shares of Republic Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Bancorp in a research report on Tuesday, June 9th. Finally, Zacks Research upgraded Republic Bancorp to a “hold” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Insider Buying and Selling

In related news, EVP Christy Ames sold 340 shares of Republic Bancorp stock in a transaction that occurred on Thursday, June 11th. The shares were 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 directly owned 6,145 shares in the company, valued at approximately $540,145.50. The trade was a 5.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Anthony T. Powell sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $83.54, for a total transaction of $250,620.00. Following the sale, the executive vice president directly owned 24,691 shares in the company, valued at $2,062,686.14. The trade was a 10.83% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 55.90% of the company’s stock.

Hedge Funds Weigh In On Republic Bancorp

Several hedge funds have recently made changes to their positions in RBCAA. State Street Corp raised its stake in shares of Republic Bancorp by 1.0% during the 4th quarter. State Street Corp now owns 218,872 shares of the bank’s stock valued at $15,195,000 after purchasing an additional 2,208 shares during the period. Bridgeway Capital Management LLC lifted its holdings in Republic Bancorp by 5.3% during the 4th quarter. Bridgeway Capital Management LLC now owns 123,097 shares of the bank’s stock worth $8,492,000 after purchasing an additional 6,189 shares in the last quarter. First Trust Advisors LP boosted its stake in Republic Bancorp by 651.0% in the 2nd quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock worth $5,708,000 after purchasing an additional 67,681 shares during the period. Empowered Funds LLC boosted its stake in Republic Bancorp by 9.2% in the 4th quarter. Empowered Funds LLC now owns 73,735 shares of the bank’s stock worth $5,087,000 after purchasing an additional 6,189 shares during the period. Finally, Millennium Management LLC grew its holdings in Republic Bancorp by 172.3% during the 3rd quarter. Millennium Management LLC now owns 63,702 shares of the bank’s stock valued at $4,602,000 after buying an additional 40,308 shares in the last quarter. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Republic Bancorp Company Profile

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.