Millennium Management LLC Lowers Position in Republic Bancorp, Inc. (NASDAQ:RBCAA)

Millennium Management LLC cut its stake in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 42.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,653 shares of the bank’s stock after selling 3,391 shares during the period. Millennium Management LLC’s holdings in Republic Bancorp were worth $325,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Empowered Funds LLC raised its holdings in Republic Bancorp by 5.0% during the fourth quarter. Empowered Funds LLC now owns 64,930 shares of the bank’s stock valued at $4,537,000 after acquiring an additional 3,105 shares during the period. New York State Teachers Retirement System raised its holdings in Republic Bancorp by 659.0% during the fourth quarter. New York State Teachers Retirement System now owns 759 shares of the bank’s stock valued at $53,000 after acquiring an additional 659 shares during the period. Rhumbline Advisers raised its holdings in Republic Bancorp by 4.1% during the fourth quarter. Rhumbline Advisers now owns 14,238 shares of the bank’s stock valued at $995,000 after acquiring an additional 567 shares during the period. Allworth Financial LP raised its holdings in Republic Bancorp by 3,326.8% during the fourth quarter. Allworth Financial LP now owns 11,137 shares of the bank’s stock valued at $756,000 after acquiring an additional 10,812 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Republic Bancorp by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 72,883 shares of the bank’s stock valued at $5,092,000 after acquiring an additional 1,932 shares during the period. 24.37% of the stock is currently owned by hedge funds and other institutional investors.

Republic Bancorp Price Performance

NASDAQ:RBCAA opened at $71.21 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.39 billion, a P/E ratio of 13.62 and a beta of 0.51. Republic Bancorp, Inc. has a 12 month low of $48.67 and a 12 month high of $80.68. The business’s 50-day moving average is $67.88 and its 200 day moving average is $68.34.

Republic Bancorp (NASDAQ:RBCAA) last posted its earnings results on Thursday, April 24th. The bank reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.56. Republic Bancorp had a return on equity of 10.60% and a net margin of 20.05%. The company had revenue of $135.84 million for the quarter, compared to the consensus estimate of $126.90 million.

Republic Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, June 20th will be given a dividend of $0.451 per share. The ex-dividend date is Friday, June 20th. This represents a $1.80 dividend on an annualized basis and a yield of 2.53%. Republic Bancorp’s dividend payout ratio (DPR) is presently 29.65%.

Analysts Set New Price Targets

Separately, Hovde Group raised their price target on Republic Bancorp from $64.00 to $69.00 and gave the company a “market perform” rating in a report on Friday, April 25th.

About Republic Bancorp

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.