Jacobs Levy Equity Management Inc. Boosts Position in Republic Bancorp, Inc. $RBCAA

Jacobs Levy Equity Management Inc. increased its holdings in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) by 132.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,935 shares of the bank’s stock after purchasing an additional 6,799 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.06% of Republic Bancorp worth $762,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RBCAA. US Bancorp DE lifted its stake in Republic Bancorp by 294.7% during the first quarter. US Bancorp DE now owns 750 shares of the bank’s stock worth $48,000 after purchasing an additional 560 shares during the last quarter. State of Wyoming lifted its stake in Republic Bancorp by 34.1% during the first quarter. State of Wyoming now owns 967 shares of the bank’s stock worth $62,000 after purchasing an additional 246 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Republic Bancorp during the fourth quarter worth approximately $70,000. Bessemer Group Inc. purchased a new stake in Republic Bancorp during the first quarter worth approximately $128,000. Finally, Lazard Asset Management LLC lifted its stake in Republic Bancorp by 41.7% during the fourth quarter. Lazard Asset Management LLC now owns 3,271 shares of the bank’s stock worth $228,000 after purchasing an additional 962 shares during the last quarter. Hedge funds and other institutional investors own 24.37% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James Financial started coverage on Republic Bancorp in a report on Friday, June 27th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.00.

Republic Bancorp Stock Down 1.6%

Republic Bancorp stock opened at $75.85 on Friday. Republic Bancorp, Inc. has a fifty-two week low of $56.79 and a fifty-two week high of $80.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.08. The company has a market capitalization of $1.48 billion, a P/E ratio of 11.89 and a beta of 0.58. The stock has a 50-day simple moving average of $73.64 and a 200-day simple moving average of $69.82.

Republic Bancorp (NASDAQ:RBCAA) last posted its earnings results on Friday, July 18th. The bank reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.19. Republic Bancorp had a return on equity of 12.23% and a net margin of 23.98%.The business had revenue of $93.00 million during the quarter, compared to the consensus estimate of $93.50 million.

Republic Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, September 19th will be given a $0.451 dividend. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, September 19th. Republic Bancorp’s payout ratio is 28.21%.

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.