Republic Bancorp (NASDAQ:RBCAA) Sets New 52-Week High – Time to Buy?

Shares of Republic Bancorp, Inc. (NASDAQ:RBCAA) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $93.85 and last traded at $92.3480, with a volume of 10995 shares changing hands. The stock had previously closed at $92.32.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RBCAA shares. Zacks Research raised Republic Bancorp to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Republic Bancorp in a research note on Tuesday, June 9th. Finally, Wall Street Zen raised Republic Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Republic Bancorp Trading Down 1.5%

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 1.05. The business’s 50-day simple moving average is $84.66 and its two-hundred day simple moving average is $76.17. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 14.03 and a beta of 0.56.

Republic Bancorp (NASDAQ:RBCAA) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.63. The company had revenue of $114.57 million during the quarter, compared to analyst estimates of $96.60 million. Republic Bancorp had a net margin of 25.22% and a return on equity of 11.32%. On average, research analysts anticipate that Republic Bancorp, Inc. will post 6.65 earnings per share for the current fiscal year.

Republic Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, September 18th will be given a $0.495 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a $1.98 annualized dividend and a yield of 2.2%. Republic Bancorp’s dividend payout ratio (DPR) is 30.56%.

Insider Activity

In other Republic Bancorp news, EVP Christy Ames sold 340 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $87.90, for a total transaction of $29,886.00. Following the transaction, the executive vice president owned 6,145 shares in the company, valued at $540,145.50. The trade was a 5.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Anthony T. Powell sold 3,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.54, for a total value of $250,620.00. Following the completion of the sale, the executive vice president directly owned 24,691 shares of the company’s stock, valued at $2,062,686.14. The trade was a 10.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 55.90% of the company’s stock.

Hedge Funds Weigh In On Republic Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Formidable Asset Management LLC lifted its position in shares of Republic Bancorp by 0.6% during the fourth quarter. Formidable Asset Management LLC now owns 30,776 shares of the bank’s stock worth $2,224,000 after purchasing an additional 184 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Republic Bancorp by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 5,072 shares of the bank’s stock valued at $371,000 after purchasing an additional 187 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Republic Bancorp by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,945 shares of the bank’s stock valued at $316,000 after purchasing an additional 234 shares in the last quarter. Silver Oak Securities Incorporated grew its holdings in Republic Bancorp by 9.4% during the 1st quarter. Silver Oak Securities Incorporated now owns 3,486 shares of the bank’s stock valued at $246,000 after purchasing an additional 300 shares in the last quarter. Finally, Quarry LP acquired a new stake in Republic Bancorp during the 3rd quarter valued at $27,000. Hedge funds and other institutional investors own 24.37% of the company’s stock.

About Republic Bancorp

Republic Bancorp, Inc is a bank holding company headquartered in Louisville, Kentucky, that operates through its principal subsidiary, Republic Bank & Trust Company. The company provides a full suite of commercial and retail banking services tailored to individuals, small businesses and middle‐market clients. Core offerings include deposit accounts, consumer and commercial lending, treasury and cash-management services, mortgage financing, SBA lending and wealth management solutions. Republic Bancorp also supports specialized financing needs through equipment leasing and small business advisory services.

Republic Bancorp’s branch network spans key markets in the U.S.