Hovde Group Issues Pessimistic Forecast for Republic Bancorp (NASDAQ:RBCAA) Stock Price

Republic Bancorp (NASDAQ:RBCAA) had its price target lowered by Hovde Group from $72.00 to $70.00 in a report released on Monday, Marketbeat reports. The brokerage currently has a market perform rating on the bank’s stock.

Republic Bancorp Trading Down 0.1 %

Shares of RBCAA stock opened at $66.80 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Republic Bancorp has a 1 year low of $46.55 and a 1 year high of $80.68. The firm’s fifty day simple moving average is $71.77 and its 200 day simple moving average is $67.39. The firm has a market capitalization of $1.30 billion, a P/E ratio of 12.70 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings data on Friday, January 24th. The bank reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.22). Republic Bancorp had a net margin of 20.65% and a return on equity of 10.79%.

Republic Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be given a dividend of $0.451 per share. The ex-dividend date of this dividend is Friday, March 21st. This is a boost from Republic Bancorp’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.70%. Republic Bancorp’s payout ratio is currently 30.99%.

Insider Buying and Selling

In other Republic Bancorp news, Director Heather V. Howell sold 1,496 shares of Republic Bancorp stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $75.63, for a total transaction of $113,142.48. Following the completion of the transaction, the director now directly owns 7,491 shares of the company’s stock, valued at approximately $566,544.33. This trade represents a 16.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 55.50% of the stock is owned by company insiders.

Institutional Trading of Republic Bancorp

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Republic Bancorp by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 952,102 shares of the bank’s stock valued at $51,040,000 after buying an additional 8,382 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of 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 last quarter. State Street Corp lifted its position in shares of Republic Bancorp by 2.2% during the third quarter. State Street Corp now owns 210,298 shares of the bank’s stock worth $13,816,000 after purchasing an additional 4,429 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Republic Bancorp by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 100,794 shares of the bank’s stock valued at $6,582,000 after purchasing an additional 2,098 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Republic Bancorp by 5.0% in the fourth quarter. Empowered Funds LLC now owns 64,930 shares of the bank’s stock valued at $4,537,000 after purchasing an additional 3,105 shares in the last quarter. Institutional investors and hedge funds 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.