Los Angeles Capital Management LLC Sells 2,092 Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA)

Los Angeles Capital Management LLC reduced its position in Republic Bancorp, Inc. (NASDAQ:RBCAA) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,730 shares of the bank’s stock after selling 2,092 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.15% of Republic Bancorp worth $2,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RBCAA. Bank of New York Mellon Corp grew its position in shares of Republic Bancorp by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 72,883 shares of the bank’s stock worth $5,092,000 after purchasing an additional 1,932 shares in the last quarter. Allworth Financial LP boosted its stake in Republic Bancorp by 3,326.8% in the 4th quarter. Allworth Financial LP now owns 11,137 shares of the bank’s stock worth $756,000 after purchasing an additional 10,812 shares during the period. Rhumbline Advisers grew its holdings in Republic Bancorp by 4.1% during the 4th quarter. Rhumbline Advisers now owns 14,238 shares of the bank’s stock valued at $995,000 after buying an additional 567 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of Republic Bancorp by 659.0% during the fourth quarter. New York State Teachers Retirement System now owns 759 shares of the bank’s stock valued at $53,000 after buying an additional 659 shares during the last quarter. Finally, Empowered Funds LLC lifted 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 worth $4,537,000 after buying an additional 3,105 shares in the last quarter. 24.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Hovde Group cut their target price on shares of Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating for the company in a research note on Monday, January 27th.

Insider Transactions at Republic Bancorp

In other news, EVP John T. Rippy sold 3,082 shares of Republic Bancorp stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $65.99, for a total value of $203,381.18. Following the completion of the transaction, the executive vice president now owns 23,105 shares in the company, valued at approximately $1,524,698.95. The trade was a 11.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Feaster sold 1,406 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total value of $93,386.52. Following the sale, the director now owns 4,303 shares in the company, valued at $285,805.26. The trade was a 24.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 56.60% of the company’s stock.

Republic Bancorp Price Performance

NASDAQ:RBCAA opened at $67.83 on Friday. The business’s 50-day moving average is $67.60 and its 200 day moving average is $68.04. Republic Bancorp, Inc. has a 12 month low of $46.55 and a 12 month high of $80.68. The company has a market capitalization of $1.32 billion, a P/E ratio of 12.97 and a beta of 0.54. 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 (NASDAQ:RBCAA) last issued its quarterly earnings data on Friday, January 24th. The bank reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%.

Republic Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be paid a $0.451 dividend. 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 2.66%. The ex-dividend date of this dividend is Friday, March 21st. Republic Bancorp’s dividend payout ratio (DPR) is presently 34.42%.

About Republic Bancorp

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.