Short Interest in Republic Bancorp, Inc. (NASDAQ:RBCAA) Declines By 22.1%

Republic Bancorp, Inc. (NASDAQ:RBCAAGet Rating) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 76,200 shares, a decline of 22.1% from the March 15th total of 97,800 shares. Based on an average daily volume of 21,700 shares, the short-interest ratio is presently 3.5 days. Approximately 0.9% of the company’s stock are short sold.

Shares of NASDAQ:RBCAA opened at $44.35 on Monday. The stock has a market cap of $886.51 million, a P/E ratio of 11.20 and a beta of 0.63. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.03. Republic Bancorp has a twelve month low of $42.69 and a twelve month high of $57.62. The business’s 50 day moving average is $45.78.

Republic Bancorp (NASDAQ:RBCAAGet Rating) last released its quarterly earnings results on Friday, January 28th. The bank reported $0.84 EPS for the quarter. Republic Bancorp had a net margin of 26.58% and a return on equity of 8.60%. The firm had revenue of $66.97 million during the quarter. As a group, equities research analysts expect that Republic Bancorp will post 3.52 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Friday, March 18th were given a $0.341 dividend. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, March 17th. This represents a $1.36 annualized dividend and a yield of 3.08%. Republic Bancorp’s dividend payout ratio is 34.34%.

In related news, Director Laura M. Douglas sold 517 shares of Republic Bancorp stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $48.79, for a total value of $25,224.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steve Trager sold 77,366 shares of Republic Bancorp stock in a transaction that occurred on Friday, February 11th. The stock was sold at an average price of $48.41, for a total transaction of $3,745,288.06. The disclosure for this sale can be found here. Insiders own 54.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its position in Republic Bancorp by 95.8% in the 3rd quarter. Citigroup Inc. now owns 1,263 shares of the bank’s stock valued at $64,000 after purchasing an additional 618 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Republic Bancorp in the 4th quarter valued at $69,000. BNP Paribas Arbitrage SA increased its stake in Republic Bancorp by 81.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,611 shares of the bank’s stock valued at $132,000 after buying an additional 1,172 shares during the period. Royal Bank of Canada increased its stake in Republic Bancorp by 7.6% in the 3rd quarter. Royal Bank of Canada now owns 3,444 shares of the bank’s stock valued at $175,000 after buying an additional 244 shares during the period. Finally, PDT Partners LLC acquired a new position in Republic Bancorp in the 4th quarter valued at $203,000. Hedge funds and other institutional investors own 25.23% of the company’s stock.

Several brokerages have recently weighed in on RBCAA. StockNews.com began coverage on shares of Republic Bancorp in a research report on Thursday, March 31st. They set a “buy” rating for the company. Piper Sandler began coverage on shares of Republic Bancorp in a research report on Monday, March 14th. They set an “overweight” rating and a $51.00 price objective for the company.

About Republic Bancorp (Get Rating)

Republic Bancorp, Inc, a financial holding company, provides various banking products and services in the United States. It operates in five segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, and Republic Credit Solutions. The company accepts demand, money market accounts, savings, individual retirement accounts, time, brokered, and other certificates of deposit.

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