Republic Bancorp (NASDAQ:RBCAA) Downgraded to Hold at StockNews.com

Republic Bancorp (NASDAQ:RBCAA – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

RBCAA has been the topic of a number of other reports. Hovde Group lowered their target price on Republic Bancorp to $50.00 in a research note on Thursday, October 27th. Piper Sandler lowered their target price on Republic Bancorp to $42.50 in a research note on Thursday, September 29th.

Republic Bancorp Price Performance

RBCAA opened at $41.33 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.00 and a quick ratio of 0.99. The company has a market capitalization of $816.14 million, a price-to-earnings ratio of 9.33 and a beta of 0.58. The firm’s fifty day moving average price is $42.96 and its two-hundred day moving average price is $43.64. Republic Bancorp has a 1 year low of $38.17 and a 1 year high of $52.54.

Republic Bancorp (NASDAQ:RBCAA – Get Rating) last posted its quarterly earnings data on Friday, October 21st. The bank reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.31. The firm had revenue of $73.08 million for the quarter, compared to the consensus estimate of $67.20 million. Republic Bancorp had a net margin of 27.49% and a return on equity of 10.50%. As a group, analysts anticipate that Republic Bancorp will post 4.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Republic Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in Republic Bancorp by 4.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 78,724 shares of the bank’s stock valued at $3,014,000 after acquiring an additional 3,314 shares during the period. Alliancebernstein L.P. increased its position in shares of Republic Bancorp by 2.2% during the third quarter. Alliancebernstein L.P. now owns 61,432 shares of the bank’s stock valued at $2,353,000 after buying an additional 1,300 shares during the period. State Street Corp increased its position in shares of Republic Bancorp by 1.1% during the third quarter. State Street Corp now owns 199,421 shares of the bank’s stock valued at $7,706,000 after buying an additional 2,102 shares during the period. Algert Global LLC increased its position in shares of Republic Bancorp by 53.3% during the third quarter. Algert Global LLC now owns 9,515 shares of the bank’s stock valued at $364,000 after buying an additional 3,310 shares during the period. Finally, Two Sigma Advisers LP increased its position in shares of Republic Bancorp by 26.1% during the third quarter. Two Sigma Advisers LP now owns 18,841 shares of the bank’s stock valued at $722,000 after buying an additional 3,900 shares during the period. 23.83% of the stock is currently owned by institutional investors.

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.