Republic Bancorp (NASDAQ:RBCAA) Stock Price Crosses Above Two Hundred Day Moving Average of $46.50

Republic Bancorp, Inc. (NASDAQ:RBCAAGet Rating)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $46.50 and traded as high as $49.33. Republic Bancorp shares last traded at $48.90, with a volume of 22,416 shares traded.

Analysts Set New Price Targets

RBCAA has been the topic of several research analyst reports. Piper Sandler boosted their price target on shares of Republic Bancorp to $53.50 in a research report on Monday, July 4th. StockNews.com cut Republic Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, May 23rd.

Republic Bancorp Stock Down 0.7 %

The company has a market cap of $977.95 million, a P/E ratio of 11.14 and a beta of 0.56. The company’s 50-day moving average is $46.50 and its two-hundred day moving average is $46.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.01 and a quick ratio of 1.00.

Republic Bancorp (NASDAQ:RBCAAGet Rating) last issued its earnings results on Thursday, April 21st. The bank reported $1.40 EPS for the quarter, beating the consensus estimate of $1.31 by $0.09. Republic Bancorp had a return on equity of 9.49% and a net margin of 29.43%. The business had revenue of $93.61 million for the quarter, compared to the consensus estimate of $96.50 million. As a group, equities analysts predict that Republic Bancorp, Inc. will post 3.88 earnings per share for the current fiscal year.

Republic Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, June 17th were given a $0.341 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, June 16th. Republic Bancorp’s dividend payout ratio (DPR) is 30.98%.

Institutional Investors Weigh In On Republic Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBCAA. Dimensional Fund Advisors LP lifted its holdings in Republic Bancorp by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 827,046 shares of the bank’s stock valued at $37,168,000 after acquiring an additional 4,892 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Republic Bancorp by 1.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 94,051 shares of the bank’s stock worth $4,227,000 after buying an additional 1,031 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Republic Bancorp by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 80,123 shares of the bank’s stock worth $3,601,000 after buying an additional 1,795 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Republic Bancorp by 17.1% in the first quarter. Renaissance Technologies LLC now owns 69,100 shares of the bank’s stock worth $3,105,000 after buying an additional 10,100 shares during the last quarter. Finally, Elizabeth Park Capital Advisors Ltd. grew its position in Republic Bancorp by 3.9% during the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 66,594 shares of the bank’s stock valued at $2,993,000 after buying an additional 2,504 shares during the period.

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.

Further Reading

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