AlphaQuest LLC Makes New Investment in Republic Bancorp, Inc. $RBCAA

AlphaQuest LLC bought a new position in shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,175 shares of the bank’s stock, valued at approximately $159,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RBCAA. CWM LLC lifted its holdings in Republic Bancorp by 68.0% during the 2nd quarter. CWM LLC now owns 608 shares of the bank’s stock worth $44,000 after buying an additional 246 shares in the last quarter. US Bancorp DE raised its position in shares of 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 acquiring an additional 560 shares during the last quarter. State of Wyoming raised its position in shares of 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 acquiring an additional 246 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Republic Bancorp by 33.3% during the second quarter. Public Employees Retirement System of Ohio now owns 2,000 shares of the bank’s stock valued at $146,000 after acquiring an additional 500 shares during the period. Finally, Strs Ohio acquired a new stake in Republic Bancorp in the first quarter worth about $243,000. Institutional investors and hedge funds own 24.37% of the company’s stock.

Republic Bancorp Price Performance

RBCAA opened at $65.45 on Tuesday. The stock has a market cap of $1.28 billion, a P/E ratio of 10.02 and a beta of 0.53. Republic Bancorp, Inc. has a 12 month low of $56.79 and a 12 month high of $80.68. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $72.64 and a 200 day simple moving average of $71.72.

Republic Bancorp (NASDAQ:RBCAA) last announced its quarterly earnings results on Friday, October 17th. The bank reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.14. Republic Bancorp had a return on equity of 12.40% and a net margin of 24.53%.The company had revenue of $93.54 million during the quarter, compared to the consensus estimate of $92.50 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Republic Bancorp in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Republic Bancorp currently has an average rating of “Hold” and a consensus price target of $69.00.

Insider Buying and Selling

In other news, EVP Christy Ames sold 400 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $75.79, for a total transaction of $30,316.00. Following the completion of the sale, the executive vice president owned 4,738 shares of the company’s stock, valued at $359,093.02. This represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Juan Montano sold 1,223 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $75.53, for a total value of $92,373.19. Following the transaction, the executive vice president owned 4,434 shares of the company’s stock, valued at approximately $334,900.02. This trade represents a 21.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 56.40% of the company’s stock.

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.