Republic Bancorp, Inc. (NASDAQ:RBCAA) Sees Significant Increase in Short Interest

Republic Bancorp, Inc. (NASDAQ:RBCAA) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 48,800 shares, an increase of 23.2% from the August 15th total of 39,600 shares. Based on an average daily trading volume, of 17,400 shares, the short-interest ratio is currently 2.8 days. Currently, 0.6% of the shares of the company are short sold.

Insider Activity

In other news, CFO Kevin D. Sipes sold 10,074 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $65.07, for a total transaction of $655,515.18. Following the completion of the sale, the chief financial officer now owns 70,086 shares in the company, valued at approximately $4,560,496.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Republic Bancorp news, EVP Pedro A. Bryant sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $65.61, for a total value of $164,025.00. Following the completion of the sale, the executive vice president now owns 1,425 shares of the company’s stock, valued at approximately $93,494.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin D. Sipes sold 10,074 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $65.07, for a total transaction of $655,515.18. Following the transaction, the chief financial officer now directly owns 70,086 shares in the company, valued at $4,560,496.02. The disclosure for this sale can be found here. Insiders sold a total of 18,078 shares of company stock valued at $1,170,715 over the last three months. Insiders own 55.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RBCAA. Inspire Investing LLC boosted its stake in shares of Republic Bancorp by 3.6% in the 1st quarter. Inspire Investing LLC now owns 7,076 shares of the bank’s stock valued at $361,000 after purchasing an additional 245 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Republic Bancorp by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,405 shares of the bank’s stock worth $378,000 after buying an additional 624 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Republic Bancorp by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 97,399 shares of the bank’s stock worth $5,373,000 after buying an additional 704 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Republic Bancorp by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,927 shares of the bank’s stock valued at $4,124,000 after acquiring an additional 1,226 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Republic Bancorp during the 2nd quarter valued at $67,000. 24.37% of the stock is owned by institutional investors.

Republic Bancorp Price Performance

NASDAQ:RBCAA traded up $0.49 during trading hours on Tuesday, reaching $65.79. 800 shares of the company were exchanged, compared to its average volume of 17,216. The business has a 50 day moving average of $61.35 and a 200 day moving average of $54.43. Republic Bancorp has a 1-year low of $42.42 and a 1-year high of $69.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $1.28 billion, a P/E ratio of 13.72 and a beta of 0.52.

Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, July 19th. The bank reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.03). Republic Bancorp had a return on equity of 10.50% and a net margin of 20.41%. The company had revenue of $116.05 million for the quarter.

Republic Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 20th will be issued a dividend of $0.407 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, September 20th. Republic Bancorp’s dividend payout ratio (DPR) is presently 34.24%.

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.