Republic Bancorp (NASDAQ:RBCAA) Upgraded at Wall Street Zen

Republic Bancorp (NASDAQ:RBCAA) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Republic Bancorp in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.00.

Republic Bancorp Stock Performance

Shares of Republic Bancorp stock opened at $69.00 on Friday. Republic Bancorp has a 12 month low of $56.79 and a 12 month high of $78.25. The firm has a market capitalization of $1.35 billion, a P/E ratio of 10.27 and a beta of 0.60. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $71.24 and a two-hundred day simple moving average of $71.31.

Republic Bancorp (NASDAQ:RBCAA) last announced its earnings results on Friday, January 30th. The bank reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.13). Republic Bancorp had a net margin of 25.19% and a return on equity of 12.39%. The business had revenue of $94.27 million for the quarter, compared to the consensus estimate of $92.50 million.

Institutional Investors Weigh In On Republic Bancorp

Several institutional investors have recently modified their holdings of RBCAA. First Trust Advisors LP increased its holdings in Republic Bancorp by 651.0% in the 2nd quarter. First Trust Advisors LP now owns 78,077 shares of the bank’s stock worth $5,708,000 after buying an additional 67,681 shares in the last quarter. Millennium Management LLC grew its stake in shares of Republic Bancorp by 172.3% in the third quarter. Millennium Management LLC now owns 63,702 shares of the bank’s stock worth $4,602,000 after acquiring an additional 40,308 shares during the period. American Century Companies Inc. grew its stake in shares of Republic Bancorp by 13.8% in the second quarter. American Century Companies Inc. now owns 238,979 shares of the bank’s stock worth $17,472,000 after acquiring an additional 28,976 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Republic Bancorp during the third quarter valued at approximately $1,600,000. Finally, Geode Capital Management LLC raised its holdings in shares of Republic Bancorp by 9.0% during the second quarter. Geode Capital Management LLC now owns 234,101 shares of the bank’s stock valued at $17,118,000 after purchasing an additional 19,271 shares during the last quarter. 24.37% of the stock is owned by hedge funds and other institutional investors.

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.