Republic Bancorp (NASDAQ:RBCAA) Shares Gap Down to $41.22

Republic Bancorp, Inc. (NASDAQ:RBCAAGet Rating)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $41.22, but opened at $40.06. Republic Bancorp shares last traded at $40.06, with a volume of 3 shares.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler cut shares of Republic Bancorp from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $53.50 to $50.00 in a report on Monday, July 25th. StockNews.com raised shares of Republic Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday.

Republic Bancorp Stock Performance

The stock has a market cap of $811.80 million, a price-to-earnings ratio of 9.16 and a beta of 0.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.99 and a current ratio of 1.00. The company’s 50 day simple moving average is $44.45 and its 200 day simple moving average is $44.93.

Republic Bancorp (NASDAQ:RBCAAGet Rating) last released its earnings results on Friday, July 22nd. The bank reported $1.20 EPS for the quarter, beating the consensus estimate of $0.92 by $0.28. The firm had revenue of $81.80 million for the quarter, compared to analysts’ expectations of $72.20 million. Republic Bancorp had a net margin of 27.95% and a return on equity of 10.38%. On average, equities research analysts anticipate that Republic Bancorp, Inc. will post 4.02 earnings per share for the current year.

Republic Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, September 16th will be paid a dividend of $0.341 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.36 annualized dividend and a yield of 3.36%. Republic Bancorp’s payout ratio is 30.70%.

Hedge Funds Weigh In On Republic Bancorp

Hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new position in shares of Republic Bancorp in the 2nd quarter worth approximately $31,000. Amalgamated Bank acquired a new position in shares of Republic Bancorp in the first quarter worth about $50,000. Acadian Asset Management LLC acquired a new position in shares of Republic Bancorp in the fourth quarter worth about $69,000. SeaCrest Wealth Management LLC acquired a new position in shares of Republic Bancorp in the second quarter worth about $148,000. Finally, SG Americas Securities LLC acquired a new position in shares of Republic Bancorp in the second quarter worth about $166,000. Institutional investors and hedge funds own 24.68% of the company’s stock.

About Republic Bancorp

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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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