State Board of Administration of Florida Retirement System Grows Stock Holdings in Republic Bancorp, Inc. (NASDAQ:RBCAA)

State Board of Administration of Florida Retirement System increased its stake in shares of Republic Bancorp, Inc. (NASDAQ:RBCAAGet Rating) by 32.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,172 shares of the bank’s stock after buying an additional 3,255 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.07% of Republic Bancorp worth $636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank acquired a new stake in Republic Bancorp in the first quarter valued at about $50,000. SG Americas Securities LLC acquired a new stake in Republic Bancorp in the second quarter valued at about $166,000. MetLife Investment Management LLC lifted its position in Republic Bancorp by 49.7% in the first quarter. MetLife Investment Management LLC now owns 4,602 shares of the bank’s stock valued at $207,000 after purchasing an additional 1,527 shares during the period. SILVER OAK SECURITIES Inc acquired a new stake in Republic Bancorp in the first quarter valued at about $229,000. Finally, Bailard Inc. acquired a new stake in Republic Bancorp in the second quarter valued at about $294,000. Hedge funds and other institutional investors own 24.68% of the company’s stock.

Republic Bancorp Price Performance

RBCAA stock opened at $44.11 on Friday. The firm has a 50 day moving average of $42.05 and a 200-day moving average of $44.21. Republic Bancorp, Inc. has a 12-month low of $38.17 and a 12-month high of $56.47. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 0.02. The company has a market cap of $871.04 million, a price-to-earnings ratio of 9.96 and a beta of 0.60.

Republic Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 20th. Investors of record on Friday, December 16th will be given a dividend of $0.341 per share. The ex-dividend date is Thursday, December 15th. This represents a $1.36 annualized dividend and a dividend yield of 3.09%. Republic Bancorp’s dividend payout ratio is currently 30.70%.

Analyst Ratings Changes

RBCAA has been the subject of a number of recent analyst reports. Piper Sandler reduced their price objective on shares of Republic Bancorp to $42.50 in a research report on Thursday, September 29th. Hovde Group reduced their price target on shares of Republic Bancorp to $50.00 in a research report on Thursday, October 27th. Finally, StockNews.com initiated coverage on shares of Republic Bancorp in a research report on Wednesday, October 12th. They set a “buy” rating for the company.

Republic Bancorp Profile

(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.

Featured Articles

Want to see what other hedge funds are holding RBCAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Republic Bancorp, Inc. (NASDAQ:RBCAAGet Rating).

Institutional Ownership by Quarter for Republic Bancorp (NASDAQ:RBCAA)

Receive News & Ratings for Republic Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Republic Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.