Geode Capital Management LLC Reduces Holdings in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Geode Capital Management LLC lessened its position in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 215,642 shares of the bank’s stock after selling 3,986 shares during the quarter. Geode Capital Management LLC owned about 1.11% of Republic Bancorp worth $15,069,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Republic Bancorp by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 514,866 shares of the bank’s stock worth $35,974,000 after acquiring an additional 19,756 shares during the last quarter. State Street Corp boosted its position in shares of Republic Bancorp by 2.2% during the third quarter. State Street Corp now owns 210,298 shares of the bank’s stock worth $13,816,000 after buying an additional 4,429 shares during the period. American Century Companies Inc. grew its stake in shares of Republic Bancorp by 14.0% in the fourth quarter. American Century Companies Inc. now owns 186,117 shares of the bank’s stock valued at $13,004,000 after buying an additional 22,818 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Republic Bancorp by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 72,883 shares of the bank’s stock valued at $5,092,000 after buying an additional 1,932 shares during the period. Finally, Empowered Funds LLC lifted its stake in Republic Bancorp by 5.0% during the 4th quarter. Empowered Funds LLC now owns 64,930 shares of the bank’s stock worth $4,537,000 after acquiring an additional 3,105 shares in the last quarter. 24.37% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP John T. Rippy sold 3,082 shares of Republic Bancorp stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $65.99, for a total value of $203,381.18. Following the transaction, the executive vice president now directly owns 23,105 shares of the company’s stock, valued at $1,524,698.95. The trade was a 11.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David P. Feaster sold 1,406 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $66.42, for a total value of $93,386.52. Following the completion of the transaction, the director now directly owns 4,303 shares in the company, valued at approximately $285,805.26. The trade was a 24.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 56.40% of the company’s stock.

Republic Bancorp Stock Performance

Shares of RBCAA stock opened at $64.09 on Monday. Republic Bancorp, Inc. has a 52 week low of $48.10 and a 52 week high of $80.68. The firm has a 50 day moving average of $64.54 and a two-hundred day moving average of $68.35. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $1.25 billion, a PE ratio of 12.25 and a beta of 0.46.

Republic Bancorp (NASDAQ:RBCAA) last released its earnings results on Friday, January 24th. The bank reported $0.98 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.22). Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%.

Republic Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, March 21st were given a $0.451 dividend. The ex-dividend date of this dividend was Friday, March 21st. This is an increase from Republic Bancorp’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.81%. Republic Bancorp’s dividend payout ratio is currently 34.42%.

Analyst Ratings Changes

Separately, Hovde Group cut their price target on shares of Republic Bancorp from $72.00 to $70.00 and set a “market perform” rating on the stock in a research note on Monday, January 27th.

Republic Bancorp 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.