Republic Bancorp (NASDAQ:RBCAA) Shares Cross Above 200 Day Moving Average – Here’s Why

Republic Bancorp, Inc. (NASDAQ:RBCAA) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $87.56 and traded as high as $92.74. Republic Bancorp shares last traded at $90.7640, with a volume of 63,128 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Republic Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday. Raymond James Financial began coverage on shares of Republic Bancorp in a report on Wednesday, September 2nd. They set a “hold” rating for the company. Zacks Research raised Republic Bancorp to a “hold” rating in a research note on Monday, July 13th. Finally, Hovde Group boosted their price target on Republic Bancorp from $80.00 to $98.00 and gave the company a “market perform” rating in a report on Monday, July 27th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.00.

Republic Bancorp Stock Performance

The business has a fifty day moving average of $94.23 and a 200 day moving average of $87.71. The company has a market cap of $1.78 billion, a P/E ratio of 13.85 and a beta of 0.55. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.14.

Republic Bancorp (NASDAQ:RBCAA) last issued its quarterly earnings data on Friday, July 24th. The bank reported $1.68 EPS for the quarter, topping the consensus estimate of $1.55 by $0.13. The business had revenue of $101.27 million during the quarter, compared to analyst estimates of $97.60 million. Republic Bancorp had a net margin of 25.38% and a return on equity of 11.20%. On average, equities analysts predict that Republic Bancorp, Inc. will post 6.65 EPS for the current year.

Hedge Funds Weigh In On Republic Bancorp

A number of institutional investors have recently bought and sold shares of RBCAA. Nisa Investment Advisors LLC lifted its stake in shares of Republic Bancorp by 40.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 626 shares of the bank’s stock valued at $58,000 after purchasing an additional 180 shares during the period. GAMMA Investing LLC boosted its position in shares of Republic Bancorp by 167.0% during the third quarter. GAMMA Investing LLC now owns 721 shares of the bank’s stock valued at $66,000 after purchasing an additional 451 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in Republic Bancorp in the first quarter worth $213,000. Arizona State Retirement System purchased a new stake in Republic Bancorp in the second quarter worth $218,000. Finally, Royal Bank of Canada grew its stake in Republic Bancorp by 46.2% in the first quarter. Royal Bank of Canada now owns 3,401 shares of the bank’s stock worth $239,000 after purchasing an additional 1,074 shares during the period. 24.37% of the stock is owned by institutional investors.

About Republic Bancorp

Republic Bancorp, Inc is a Louisville, Kentucky-based bank holding company whose principal subsidiary is Republic Bank & Trust Company. The company provides consumer and commercial banking services to individuals, businesses, professionals and institutions.

Republic Bank offers deposit accounts, checking and savings products, consumer and commercial loans, mortgages, treasury management, private banking, wealth management and investment services. Through its Republic Processing Group, the company also provides financial services and processing solutions for tax professionals, including tax refund-related products and services.

Founded in 1974, Republic Bancorp serves customers through banking operations primarily in Kentucky and selected markets in the surrounding region, including Indiana, Ohio, Tennessee and Florida.