Republic Bancorp, Inc. (NASDAQ:RBCAA) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 487,758 shares of the bank’s stock after purchasing an additional 5,351 shares during the quarter. Vanguard Group Inc. owned 2.52% of Republic Bancorp worth $21,486,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Republic Bancorp by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 96,695 shares of the bank’s stock worth $4,259,000 after purchasing an additional 1,972 shares during the period. Meridian Wealth Management LLC lifted its holdings in Republic Bancorp by 100.0% in the third quarter. Meridian Wealth Management LLC now owns 11,968 shares of the bank’s stock valued at $527,000 after acquiring an additional 5,984 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Republic Bancorp by 27.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,274 shares of the bank’s stock valued at $144,000 after acquiring an additional 705 shares during the period. Money Concepts Capital Corp acquired a new stake in Republic Bancorp in the third quarter valued at $201,000. Finally, Inspire Investing LLC acquired a new stake in Republic Bancorp in the third quarter valued at $311,000. 24.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Hovde Group initiated coverage on Republic Bancorp in a report on Monday, March 4th. They issued an “outperform” rating for the company.

Insider Transactions at Republic Bancorp

In other news, Director Michael T. Rust sold 1,400 shares of Republic Bancorp stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $47.43, for a total transaction of $66,402.00. Following the completion of the transaction, the director now owns 20,772 shares of the company’s stock, valued at approximately $985,215.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 55.50% of the company’s stock.

Republic Bancorp Price Performance

Republic Bancorp stock opened at $48.05 on Friday. Republic Bancorp, Inc. has a one year low of $37.23 and a one year high of $57.54. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.06 and a current ratio of 1.07. The business has a fifty day moving average of $49.44 and a two-hundred day moving average of $49.00. The company has a market cap of $932.17 million, a P/E ratio of 10.45 and a beta of 0.57.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings results on Friday, January 26th. The bank reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.28. The business had revenue of $105.57 million during the quarter. Republic Bancorp had a return on equity of 10.39% and a net margin of 21.16%.

Republic Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.407 per share. This represents a $1.63 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Thursday, March 14th. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.37. Republic Bancorp’s payout ratio is 35.43%.

Republic Bancorp Company Profile

Republic Bancorp, Inc operates as a bank holding company for Republic Bank & Trust Company that provides various banking products and services in the United States. It operates in six segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions.