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

Republic Bancorp, Inc. (NASDAQ:RBCAA)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $80.17 and last traded at $80.17, with a volume of 2608 shares. The stock had previously closed at $77.62.

Analyst Upgrades and Downgrades

Separately, Hovde Group downgraded shares of Republic Bancorp from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $78.00 to $80.00 in a research note on Wednesday, November 13th.

Republic Bancorp Stock Performance

The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.50 billion, a P/E ratio of 14.71 and a beta of 0.51. The business has a fifty day simple moving average of $69.22 and a 200-day simple moving average of $61.38.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings data on Friday, October 18th. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.16. Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%. The business had revenue of $118.36 million for the quarter.

Republic Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, December 20th will be given a dividend of $0.407 per share. This represents a $1.63 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, December 20th. Republic Bancorp’s dividend payout ratio (DPR) is 30.99%.

Insider Transactions at Republic Bancorp

In related news, EVP Christy Ames sold 1,715 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $63.72, for a total transaction of $109,279.80. Following the sale, the executive vice president now directly owns 4,240 shares of the company’s stock, valued at $270,172.80. This trade represents a 28.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 56.60% of the company’s stock.

Institutional Investors Weigh In On Republic Bancorp

Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Republic Bancorp by 0.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 952,102 shares of the bank’s stock valued at $51,040,000 after purchasing an additional 8,382 shares during the period. Vanguard Group Inc. increased its holdings in Republic Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 500,726 shares of the bank’s stock valued at $25,537,000 after buying an additional 2,043 shares during the last quarter. Geode Capital Management LLC raised its position in Republic Bancorp by 4.5% in the third quarter. Geode Capital Management LLC now owns 219,628 shares of the bank’s stock worth $14,345,000 after acquiring an additional 9,430 shares during the period. State Street Corp boosted its stake in shares of Republic Bancorp by 2.2% during the 3rd quarter. State Street Corp now owns 210,298 shares of the bank’s stock worth $13,816,000 after acquiring an additional 4,429 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Republic Bancorp by 17.0% during the 2nd quarter. American Century Companies Inc. now owns 146,090 shares of the bank’s stock valued at $7,832,000 after acquiring an additional 21,261 shares during the period. Institutional investors own 24.37% of the company’s stock.

Republic Bancorp Company Profile

Republic Bancorp, Inc operates as a bank holding company for Republic Bank & Trust Company that provides various banking products and services in the United States. It operates in six segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions.