Republic Bancorp (NASDAQ:RBCAA) Sees Strong Trading Volume – What’s Next?

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) saw an uptick in trading volume on Monday. 50,487 shares were traded during trading, a decline of 41% from the previous session’s volume of 85,266 shares. The stock last traded at $91.4850 and had previously closed at $90.93.

Analysts Set New Price Targets

RBCAA has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Republic Bancorp in a research note on Friday, September 4th. Hovde Group raised their target price on shares of Republic Bancorp from $80.00 to $98.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Raymond James Financial assumed coverage on Republic Bancorp in a report on Wednesday, September 2nd. They set a “hold” rating on the stock. 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 three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $98.00.

Republic Bancorp Stock Performance

The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $1.79 billion, a PE ratio of 14.37 and a beta of 0.55. The firm’s 50-day simple moving average is $94.99 and its two-hundred day simple moving average is $86.95.

Republic Bancorp (NASDAQ:RBCAA) last issued its earnings results on Friday, July 24th. The bank reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.13. Republic Bancorp had a return on equity of 11.20% and a net margin of 25.38%. The company had revenue of $101.27 million for the quarter, compared to the consensus estimate of $97.60 million. On average, equities research analysts expect that Republic Bancorp, Inc. will post 6.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Republic Bancorp

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Republic Bancorp by 167.0% during the 3rd quarter. GAMMA Investing LLC now owns 721 shares of the bank’s stock valued at $66,000 after purchasing an additional 451 shares during the period. Engineers Gate Manager LP acquired a new position in Republic Bancorp during the 2nd quarter valued at $479,000. Arizona State Retirement System bought a new stake in shares of Republic Bancorp in the second quarter valued at about $218,000. Vestor Capital LLC increased its position in shares of Republic Bancorp by 164.4% during the first quarter. Vestor Capital LLC now owns 5,594 shares of the bank’s stock valued at $395,000 after purchasing an additional 3,478 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Republic Bancorp by 29.9% during the first quarter. Bank of America Corp DE now owns 16,035 shares of the bank’s stock valued at $1,131,000 after purchasing an additional 3,687 shares during the period. 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. Its principal subsidiary, Republic Bank & Trust Company, provides banking and financial services to individuals, businesses, and institutions through banking centers and digital channels.

The company offers personal and commercial deposit accounts, consumer and business loans, mortgage lending, cash-management services, online and mobile banking, and wealth-management and trust services. Its banking operations serve customers in Kentucky, Florida, Indiana, Ohio, and Tennessee.

Republic Bancorp also operates Republic Processing Group, which provides tax-related financial services and payment-processing solutions, including tax refund processing and prepaid products.